It’s been a weird week, folks. Professional skateboarder Tony Hawk gave the keynote speech at an AICPA event. A tax prep titan could tumble, thanks to the Tax Cuts and Jobs Act. And the Ohio State Supreme Court is hearing arguments about bobbleheads, because why not.
To bobble, or not to bobble? The Cincinnati Reds give out free bobblehead figures of players to ticket buyers at certain games. The state of Ohio wants to tax the bobbleheads. The Cincinnati Reds, on the other hand, do not feel they should pay sales tax on the freebie bobbleheads. Now the Ohio Supreme Court is hearing arguments regarding the taxation of bobbleheads. And we’re making a big deal about it, because we just love typing the word “bobbleheads.” [Cincinnati Enquirer]
H&R Block stocks plummet, due to the Tax Cuts and Jobs Act. While Trump’s tax reform slashed corporate taxes from 35% to 21%, not every corporation is celebrating. Due to vastly simplified filing requirements for individuals, tax prep service H&R Block will be working on far fewer complex returns. As the company charges its clients based on the complexity of their returns, analysts predict disappointing consequences for the coming year. [Bloomberg]
[Sorry, we have to say it again – Bobbleheads.]
Skateboarders and accountants: a match made in heaven. Wednesday, professional skateboarder Tony Hawk gave the keynote speech at the AICPA’s Engage event in Las Vegas. You may be surprised to learn that Mr. Hawk is an astute entrepreneur, having started several successful companies (and some not-so-successful companies). He credits his accountant with keeping him on track. [Accounting Today]
New way to pay alimony: The tax advantages of alimony will only apply for couples divorcing prior to December 31, 2018. Expect negotiating IRAs to pick up the slack. [CNBC]
Wake Up With REM is The REM Cycle’s biweekly compilation of newsworthy articles pertaining to taxation, accounting, and life in general. Got a hot tip? Email us at REMCycle@rem-co.com.