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Tuesday, October 1, 2013

Tom Hanks Leaves Captain Phillips Premiere Early to Avoid NYC Tax Man

Tom HanksThe National Enquirer, Tom Hanks IRS Avoidance:

Captain Tom laying low in NYC and it’s all because of his swanky abode in NYC that has the IRS up in arms!

Hanks, 57, has a primary residence in California which means the Tax Man only allows him to spend 183 days per year at his apartment in NYC and the Apollo 13 is already at about 149 days this year, so he has to be careful now with how he splits his time.

According to Showbiz411, the A-lister even had to skip out early at his Captain Phillips preem at the New York Film Festival last Friday night because he had to fly back to California so he didn’t take up an extra day of his New York time.

http://taxprof.typepad.com/taxprof_blog/2013/10/tom-hanks.html

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Comments

And I thought all lefties loved taxes. Huh.

Posted by: BruceC | Oct 1, 2013 6:06:33 PM

New York State it would seem. IRS taxes you the same no matter where you go...or try to hide.

Posted by: Anthony E. Parent, Esq. | Oct 1, 2013 6:11:07 PM

Taxes are for the little people.

Posted by: Richard McEnroe | Oct 1, 2013 6:23:06 PM

Typical rich lefty hypocrite.

Posted by: Fendell | Oct 1, 2013 6:23:09 PM

Another liberal hypocrite.

Posted by: jetty | Oct 1, 2013 6:23:28 PM

Variety Headline: "Hanks Yanked from Axis of Taxes"

Posted by: MarkJ | Oct 1, 2013 6:29:54 PM

this is the guy who voted for the clinton and obummer and gave them both large amounts of money. like most Hollywood types, they deserve while we must pay. what a d bag

Posted by: Deserttrek | Oct 1, 2013 6:41:27 PM

Rush Limbaugh refuses to work in NYC because of the taxes. Yet, they audit him every single year despite not living there in years.

Posted by: Kelly | Oct 1, 2013 6:45:18 PM

New York State it would seem.

No, it's New York City taxes. As odd as it may seem to everyone else, you pay city income taxes if you live in NYC.

Posted by: tsotha | Oct 1, 2013 9:02:41 PM

How much of a Lefty is Hanks really?

This is the guy who helped produce BAND OF BROTHERS.

He's never struck me as particularly political. I'm sure he's no constitutional small government social conservative, but that doesn't make him closet communist.

If New York is keen on fleecing him just because he has a place to sleep while he's in town, then maybe he should see about getting a comfortable pad in Jersey or CT, far enough over the state line to keep the hounds at bay, but close enough that he doesn't have to run all the way back to the PRK.

Posted by: Lee Reynolds | Oct 1, 2013 11:41:14 PM

How much of a lefty is Tom Hanks? "Back in World War II, we viewed the Japanese as ‘yellow, slant-eyed dogs’ that believed in different gods. They were out to kill us because our way of living was different. We, in turn, wanted to annihilate them because they were different. Does that sound familiar, by any chance, to what’s going on today?” Tom Hanks in 2010.

Posted by: Bruce | Oct 2, 2013 3:34:41 AM

I can understand your confusion, Lee, given some of the movies Hanks makes. But you have to be careful judging an actor's personal politics by his film-making. Hanks was a prominent Clinton supporter and I know of nothing saying his politics have changed.

The hypocrisy, it runs thick and deep with this crowd.

Posted by: tim maguie | Oct 2, 2013 4:06:08 AM

Please -- set the political stuff aside for a minute so that I can use this article in my tax class today. I thought the issue here is the federal tax deduction for expenses while 'away from home.' I did not think the "Tax Man" referred to here was a NY or NYC tax man -- won't NY and NYC insist that he pay NY and NYC income tax on the fraction of the year he in in NY?

Posted by: eli bortman | Oct 2, 2013 4:14:59 AM

wow, avoiding NY's 13% tax to pay California's 11%? seems like a lot of trouble for not a lot of gain. he should spend a few months a year in florida and save some real money!

Posted by: wchurch | Oct 2, 2013 5:41:13 AM

I approve of anyone, political stance be damned, legally minimizing their tax burden from local, state and federal taxation. Heck, I consider doing so almost a moral imperative.

Doing anything else is just stupid.

I applaud Mr. Hanks on following sound financial advice.

Posted by: mikee | Oct 2, 2013 5:56:57 AM

The much larger injustice is not that NYC merely wants to tax those who live there for half the year, but that the IRS taxes U.S. citizens who live and earn their money outside of the United States. This is an injustice that is made even more outrageous by the fact that those looking to escape US citizenship must pay an egregious Soviet style exit tax in violation of International Law and the Treaty obligations of the United States in order to escape their obligations to a Country in which they don't live or earn money.

Posted by: mak | Oct 2, 2013 6:08:12 AM

Everyone is a conservative when it comes to paying his own taxes.

Posted by: Bud Norton | Oct 2, 2013 6:47:09 AM

If he earns income in NY, he will pay NY tax on it, and likewise for CA. I think the issue is his investment income which is not necessarily earned where he is physically located. The investment income will be taxed by his home state. For Mr. Hanks, the 2% difference in rates could be significant - for example, 2% of $5 million is $100,000, and it could be a lot more than that.

Posted by: Mike S | Oct 2, 2013 6:58:33 AM

Leaving a huge carbon footprint in his wake.
Must be nice to burn through money (a percentage of it subsidized by the taxpayers), to avoid paying taxes - that are partially paying for your salary, freebies and bennies.

Posted by: yeah | Oct 2, 2013 6:58:47 AM

Hold on, who exactly is counting the number of nights Hanks has spent in NY? Are they getting paid for it? And what private information are they availing themselves of for their calculations?

Posted by: mwoelfle | Oct 2, 2013 7:43:13 AM

Wow, what a tremendous hypocrite Hanks is. He was more than happy to narrate Obama's propaganda re-election film last year, why not pay his FAIR SHARE?

Isn't that what the Left has been whining about? That the Rich won't pay their fair share? And here's Hanks, working to kill the elderly and let children starve just to keep more of his money?

Funny how it's different now that it's him, isn't it?

Again, hypocrite, heal thyself. This is the Left, in a nutshell, from Gore to Obama to Hanks. Do as I say, not as I do.

Posted by: acethepug | Oct 2, 2013 9:52:21 AM