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Friday, June 4, 2004
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Heard on the radio
The free admission is taxable.
Let's think about this for a moment.
Okay...
If something is taxed it isn't free is it? This probably falls under the same rules as lotteries. Except the people holding the event get to hold onto the "tax money" for a few weeks/months until they have to report it to the taxman. So... the people attending pay something, the people holding the event get the interest made while the money is in the bank, and the tax man gets the taxes... sounds like a loophole to me.
I'm assuming I misunderstood... because there is no way this could be legal.
10:05:45 PM 
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© Copyright
2009
Andy Stoffel.
Last update:
7/19/09; 10:11:55 PM.
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