Today in let's-make-asinine-statements-in-regards-to-tax-policy-news, Arkansas Governor Mike Beebe recently told a large crowd that, “[a]nyone standing in the way of [the wind] industry, frankly, they’re unAmerican.” Right. Because anyone that opposes federal tax dollars being redistributed into the hands of specific corporations and industries are clearly communists. [The Cabin via David Brunori]
Related Posts
Tax Pros Don’t Need to Sweat the IRS Budget Cuts
- Caleb Newquist
- June 12, 2012
This is the first post from our slew of freelancer candidates. The following is by […]
Should Derek Jeter Be Asking for a Stake in the Yankees?
- Caleb Newquist
- November 30, 2010
Fay Vincent is making the suggestion that sports stars, like DJ, should be negotiating for shares of their respective teams.
My question is why sports figures are not taking steps to generate tax-favored income by bargaining to get ownership interests in their teams. Imagine how much better off old timers like Mickey Mantle and Roger Maris would have been if they had been able to obtain even tiny shares of the Yankees franchise in 1961. In today’s context, it is true enough that the tax rate on capital gains income may soon rise to 20%—but that’s still far below the rates levied on top income earners.
Since Vincent – a former entertainment lawyer – has been around the block with big-time earners, he might be on to something here, although maybe the Steinbrenners aren’t interested, being the shrewd business family that they are (George died in a year with no estate tax for crissakes). Since neither Jeets nor the Yanks are budging in the negotiations, this idea could work. It’ been floated in the Times so it’s not like this option is a huge secret. Make something happen, people.
By most accounts, Jeter wants to finish his career in New York and the man has been the franchise for over the last decade. Forget the cash, ask for shares and save on some taxes. It’s not complicated.
Okay, maybe it’s a little complicated.
These Videos More or Less Portray What It’s Like Being an Accountant for Celebrities
- Caleb Newquist
- April 13, 2011
Celebrities suck at taxes. This is known. From Young Buck to Jaime Pressly, there are no shortage of talented-ish people that find themselves in a world of hurt when in comes to complying with the IRC. How any accountants to the stars manage to keep their clients from completely losing their shit this time of year is anyone’s guess.
Luckily for us (everyone out there seems to be suffering from a busy season hangover), a couple of videos we stumbled across more or less put this niche expertise into perspective:
Alan Kaufman, Rock Star Accountant from Dan Meth on Vimeo.
The question over at TV.com, however, is whether or not SNL got its idea for Mort Mort Feingold, Celebrity Accountant from Alan Kaufman, rock star accountant. You can debate that if you feel so inclined but the realism of each is what’s noteworthy here. Anyone with firsthand experience in the A, B, C, or D celebrity clients is invited to share anecdotes at this time.