Monday, December 20, 2004
December's "Shop Talk" column in the Journal of Taxation revisits the tax consequences of Oprah Winfrey's giveaway of 276 new cars on her TV show (previously blogged here and here). The column focuses on three tax issues:
- The valuation of the cars for income tax purposes
- The timing of the income
- The marginal tax rate of the recipients
Although the Journal of Taxation's analysis is quite good, it does not quite stack up to Jon Stewart's (blogged here).