taxes

  • emma thompson greg wise

  • "It would be an honor."

    News

    Julian Robertson’s Dream Of Being Appointed Obesity Czar So Close He Can Taste It

    He’ll get his wish (and golden fat poker) yet.

    / Feb 19, 2015 at 2:29 PM
  • May he live forever.

    Hedge Funds

    Carl Icahn’s Birthday Present To Himself: Proving Once Again He’s Still Smarter Than Everyone Else

    It’s like every day is Uncle Carl’s b-day.

    / Feb 19, 2015 at 12:26 PM
  • News

    Attention Mutual-Fund Investors

    Did you know that you have to pay taxes—like, all of them—on your mutual fund returns even when they suck? In fact, especially when they suck, but not badly enough? Well… When they sell their holdings, mutual funds have to pay out any profits as taxable capital gains unless they can offset them against losses. […]

    / Dec 30, 2014 at 12:45 PM
  • News

    Deutsche Bank Has No Idea What U.S. Is Talking About Re: Taxes

    Federal prosecutors in Manhattan on Monday sued Deutsche Bank, claiming that it owes the United States government about $190 million in unpaid taxes, penalties and interest. Prosecutors contend the tax liability stems from a transaction that Deutsche Bank undertook 14 years ago. The bank had acquired a company that held three million shares of Bristol-Myers […]

    / Dec 9, 2014 at 8:45 AM
  • mike_sorrentino

    News

    Things That Sound About Right: The IRS Would Like A Word With Mike “The Situation” Sorrentino

    MTV’s “Jersey Shore” star Michael “The Situation” Sorrentino and his brother were indicted Wednesday on charges of filing false tax returns involving $8.9 million income. Michael was charged with two counts and his brother Marc with three counts of filing false tax returns for 2010 through 2012, according to the Department of Justice. Michael Sorrentino […]

    / Sep 24, 2014 at 3:30 PM
  • quiznos

    News

    Puerto Rico’s Tax Benefits Almost Cancelled Out By Length Of Time You Have To Wait For A Prime Rib & Peppercorn Sandwich

    If you’re up to speed on the latest trends in Where Rich U.S. Citizens Are Talking About Moving To Beat What They Believe Is An Oppressive Tax Code, you know that Puerto Rico is high on the list. Working in its favor is the fact that it’s a relatively quick trip (versus, say, Singapore), the […]

    / Jun 26, 2014 at 5:02 PM
  • News

    UCSD Law Professor Dreams Up New Way For Obama To Get Hedge Fund Managers All Riled Up

    It seems all of the sound and fury—and then nothing—surrounding whether to close the carried-interest loophole/raise taxes on hedge and private-equity fund managers may have been (it wasn’t), but was certainly unnecessary. Maybe.

    / Jun 16, 2014 at 5:58 PM
  • News

    Now Everything Is Illegal In Singapore

    Including evading U.S. taxes. Singapore has reached a tax information-sharing agreement with the United States under a new law meant to combat offshore tax dodging by Americans, a U.S. Treasury Department spokeswoman said on Monday. The deal, which was expected for more than a year, will make it much easier for institutions in one of […]

    / May 6, 2014 at 5:05 PM
  • News

    Tax Day Watch ’14: The Travails of The 1%

    Sure, the top hundredth earned a bunch of extra money, on average, last year. But did you know that they have to hand some of that over to the federal government so it can buy those 47% ciphers healthcare or teachers or some other bullshit? And that next year, after they earn about $330,000 more […]

    / Apr 15, 2014 at 1:28 PM
  • Banks

    Wall Street Reallocates G.O.P. Donations To Cover Potential Tax Hike

    Of course, that money could be redeployed to any politician willing to listen to reason. Surely, someone wants Ken Langone’s vote. And check.

    / Mar 18, 2014 at 3:09 PM
  • precedence

    News

    Philistine Sees No Art In A Good Lap Dance

    Related, if you’ve got any cash to spare, the Hustler Club could use some right about now.

    / Feb 11, 2014 at 5:42 PM
  • News

    Bitcoin Is Getting More Real Every Day

    You can buy discount broadloom, see a last-place team, donate to fringe political candidates, waste more time and money at a coffee shop, accumulate hotel rewards and buy porn, travel with some difficulty, run a massive online black market and throw your money away in Vegas, all with bitcoins. And soon, you’ll be taxed on […]

    / Jan 22, 2014 at 4:02 PM
  • muffiepotteraston

    News

    Area Socialites Having None Of This Bill de Blasio Guy

    At a gathering on Monday night at 740 Park Avenue in Manhattan for Diana Taylor, the girlfriend of New York City Mayor Michael Bloomberg, some of New York’s wealthiest considered a future without the billionaire in charge. There was considerable alarm about Bill de Blasio’s lead in the polls, along with his plan to raise […]

    / Oct 9, 2013 at 3:28 PM
  • philfalconeofficehockeystick-260x3371

    News

    Phil Falcone Gets An Extra Couple Years To Devote His Energies Entirely To LightSquared

    Back in 2009, hedge fund manager Phil Falcone came up with an idea considered genius only if you take an elastic view of securities laws, which Falcone certainly did (does?). Upon being notified by his personal accountants that he owed the government more than $100 million in state and federal taxes, and turning down the […]

    / Oct 7, 2013 at 3:50 PM
  • he'll school ya

    News

    Renaissance Technologies: Buy-And-Hold Investor

    You can think of a margin loan as being like an option on the underlying security: if I lend you $50 (nonrecourse) against a $100 share of stock, and tomorrow the stock is worth $45, then you’ve lost $50 and I’ve lost $5, same as if I wrote you a $50 strike put option on […]

    / Jul 1, 2013 at 10:13 AM
  • Look at this face, does this face look like a tax avoider, etc.

    News

    Senate Discovers There’s A Tax Code

    Here’s a math problem: what does this sentence, from John McCain, tell you? “Apple claims to be the largest U.S. corporate taxpayer, but by sheer size and scale, it is also among America’s largest tax avoiders,” he said in Monday’s pre-hearing comments. The answer, of course, is that Apple is among the most profitable companies […]

    / May 21, 2013 at 11:06 AM
  • flagbig

    News

    Puerto Rico Not Picky, Will Take Felipe, Esteban, Carlos, Or Guillermo If Juan Paulson Won’t Make The Move

    Earlier this month, Bloomberg reported that John Paulson was considering making Puerto Rico his home for a little more than half the year, having been intrigued by the idea of working from the beach and not having to pay capital gains taxes. For its part, PR was pretty excited about the prospect of the hedge fund manager calling the island home on tax forms, as his presence would create a much needed you scratch our back we’ll scratch yours situation for the local economy. And while a spokesperson for Paulson has categorically crushed the dreams of the Commonwealth, apparently everyone has gotten over it pretty quickly and would like to make it clear that anyone with money to spend is welcome, nay, encouraged to come on down. Millionaires would be good, billionaires are better but beggars/choosers/etc.

    / Mar 26, 2013 at 3:50 PM
  • News

    No Jobs? No Economic Recovery? Let Them Have (Marginally Cheaper) Beer!

    [caption id="attachment_100177" align="alignleft" width="260"] I’ve never heard of a “pint” before, but I hear the working classes like them.[/caption]

    What do you do when you’re Chancellor of the Exchequer and everything’s going wrong, possibly because of your policies, and you have to introduce a budget today full of evidence of failure? Do you abandon those policies in favor of something that might work and might not cause a triple-dip recession?

    / Mar 20, 2013 at 2:30 PM
  • John-Paulson

    News

    John Paulson Won’t Work From The Beach, Will Pay Your God Damn Capital Gains Taxes

    Despite reports to the contrary. Nueva York it is.

    / Mar 15, 2013 at 1:07 PM
  • thingsthatarealotlikeaminimumsecurityprison

    News

    No Amount Of Money Worth Living Here, Puerto Rico Resident Tells John Paulson

    The U.S. territory’s leaders are seeking to lure mainland residents such as hedge-fund billionaire John Paulson. Moving to Puerto Rico could allow Paulson and other top-earning taxpayers to shield future income from the Internal Revenue Service without giving up their passports…Even with potential tax advantages, Paulson and others considering a move to Puerto Rico should […]

    / Mar 14, 2013 at 1:54 PM
  • IT'S MONEY WITH EYES

    News

    If You Tax Derivatives, Only Derivatives Will Pay Taxes

    In general when something is headlined “A Sensible Change in Taxing Derivatives,” or “A Sensible Anything,” that’s a good sign that it’s not; things that are sensible don’t have to advertise. Also: ooh derivatives are evil ooh, so the odds are even worse. But this particular sensible change – a Victor Fleischer DealBook column about […]

    / Feb 7, 2013 at 7:13 PM
  • intense Lloyd

    Banks

    Goldman Exits A Tax Trade Early

    Here is an important cultural difference between the US and the UK that you should, like, stick in the boot of your lorry or whatever: in the UK, it’s apparently not socially acceptable to put off paying bonuses by two months to save your employees five percentage points in taxes. In America, it’s considered perfectly […]

    / Jan 15, 2013 at 2:48 PM
  • cliffasnessdesk

    News

    Area Billionaire Threatens “Legal And Illegal Tax Avoidance” To Protect Comic Book Funds From Drum Circling Hippie Freeloader Idiots

    “The only way to finance a big European-style state is to have it paid for by massive taxation of everyone, mostly the middle class. Right now, we are avoiding honest debate on this fact…The first truth is that the current tax rates cannot support the promises made to middle-class Americans. The most unaffordable items in fiscal projections are Social Security for everyone and government-sponsored health care for the middle class. You cannot preserve these even with Draconian slashing of military, infrastructure, welfare, education, and other expenditures. The second truth is that you cannot pay for the Life of Julia, or any vision of a cradle-to-grave welfare state, without massive and increasingly regressive middle-class taxes. The poor don’t have the money to pay for a European-style welfare state, and the rich, rich as they are, don’t have anywhere near enough. Not only that, it’s easy to tax middle-class assets and transactions — things like payrolls, sales, and real estate — but soaking the rich means taxing investments. Investments are complicated and can be restructured to minimize taxes. Also, investments are the lifeblood of economic growth. Raising significantly more taxes from the rich also requires higher marginal tax rates — and their rates are already quite high. High marginal rates distort the economy and yield less revenue than anticipated because they increase the rewards for legal and illegal tax avoidance…to achieve anything like the European-style entitlement state they advocate, we need to tax everyone a lot more, not just the 1 percent. Despite all the drum circles protesting the inequitable distribution of resources, the wealthy just don’t have enough. The middle class and even the poor must step up to carry more of the burden if this is our desired endgame. [The American, related]

    / Jan 7, 2013 at 1:26 PM
  • News

    Wall Street Adrenaline Junkies Juiced By Our Two Hours Careening Over The Fiscal Cliff

    It wasn’t pretty or timely and didn’t seem to make anyone happy, but the fiscal cliff is no more… for another two months.

    / Jan 2, 2013 at 1:50 PM
  • We may not get enough David Bonderman around here.

    News, Private Equity

    Ungrateful LPs Don’t Even Have The Decency To Pay Private Equity Firms’ Taxes

    I feel like this came out wrong: The idea that capital gains treatment should only be available to those with money to invest would advance a policy that puts a higher value on financial contributions than vision, hard work and other forms of sweat equity. That’s from Steve Judge, president of the Private Equity Growth […]

    / Oct 1, 2012 at 5:12 PM
  • News

    Chesapeake Is Making It Uncomfortable For Other Oil Companies To Pay Low Taxes Just Because They Take In Negative Money

    If you were at, say, Range Resources, wouldn’t you be SO PISSED at Chesapeake? Uniquely in modern memory, every media report during Chesapeake’s meltdown has had immediate and dire results. Aubrey’s a bit of a scoundrel? Strip him of his chairmanship. His founder participation program creates conflicts of interest? Terminate it. There was maybe a […]

    / Jul 2, 2012 at 4:56 PM
  • News

    Securities And Exchange Commission Still Hung Up About The Time Phil Falcone Borrowed Money From A Gated Fund To Pay Personal Taxes

    Remember the time Harbinger Capital Partners founder Phil Falcone was a little short on cash, and decided to “borrow” $113 million from a fund in which redemptions had been suspended in order to pay personal taxes? Unfortunately for Big P, the SEC does. (The regulator also recalls he time he allegedly played favorites with Goldman and allegedly manipulated some markets.)

    Philip Falcone, the billionaire founder of Harbinger Capital Partners LLC, faces a lawsuit from U.S. regulators as soon as this week over claims he improperly borrowed client funds to pay his taxes and gave preferential treatment to Goldman Sachs Group Inc., according to two people familiar with the matter. Falcone, 49, may also face a market manipulation claim related to trading in bonds of MAAX Holdings Inc., said the people, who asked not to be identified because the matter isn’t public. The Securities and Exchange Commission voted to authorize enforcement staff to file the case, the people said.

    While perhaps not the best news Falcone has received in a while, it likely does not come as a surprise, as the SEC has been talking about the aforementioned offenses since last December (when they tried to get him banned from the securities industry). Either way, Phil, who should probably just not going home tonight unless he wants an earful, is planning to “contest to the suit.”

    SEC Said To Authorize Lawsuit Against Harbinger’s Falcone [Bloomberg]

    / Jun 26, 2012 at 3:03 PM

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