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Memorial Weekend Footnotes: Sands Goes with Deloitte; Fat Joe Blames ‘Fancy Guys in Bow Ties’; Where’s the Marijuana Tax Sweet Spot? | 05.24.13

~ That's it for us! Have a great weekend and we'll see you on Tuesday.

Sands Names Deloitte as Auditor Deloitte & Touche was chosen amid a competitive bidding process. It will be paid more than PwC but under $10 million a year, said a person familiar with the matter. PwC was paid around $5.9 million a year for its services, according to company filings. Most major companies use one of the Big Four accounting firms as their auditor, so when a company like Las Vegas Sands switches, it has limited options—and its choice may be even more constricted because audit firms tend to specialize by industry. Only three of the Big Four firms audit major gambling firms. [WSJ]

Apple Shows It's Time to Abolish Corporate Taxes [Bloomberg]

Jonathan Weil Is Simply Wrong Here About Apple's Taxes [Forbes]

Fat Joe Blames His Tax Evasion Problems On ‘Fancy Guys In Bow Ties’ [Radio]

Social Media: Ten Things Accountants Should Never Do [AWEB]

When (and If) You Should Ever Work For Free [Lifehacker]

Mary J. Blige owes more than $3.4M in federal taxes [USAT]

Seven thrilling [!!] facts about carbon taxes from the CBO [Wonkblog/WaPo]

IRS Safeguards Toothless in Tea Party Nonprofit Cases [Bloomberg]

The Joys of No Income Tax, the Agonies of Other Kinds [NYT]

Finding Just the Right Tax Rate In a contribution to the New York Times' Room for Debate, Kim Rueben argues if the tax rate for marijuana is too high, people will continue to buy weed from the guy on the street. However, setting the tax rate too low leaves revenue on the table and use might boom. [TPC]

McDonald's CEO Responds to 9-Year-Old Girl Who Claims Kids Are Being Tricked [ABC]

Boyfriend and Girlfriend Stab Each Other Over American Idol Winner [Gawker]


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