Tag Archives: Tax

The Proposed Billionaire Tax and Its Effect on Non-Billionaires

Austen Weinberg – Elon Musk, one of the wealthiest men in the world, has recently been involved in discussions regarding how billionaires should be taxed. On November 6, 2021, Musk posted a poll on Twitter, asking his followers whether they support his proposition to sell 10% of Tesla stock in order to address the issue […]

Are Cryptocurrencies Currency? Why The Answer Matters For Corporate Tax Purposes

Lauren Assayag – This July, Tesla announced it will likely accept Bitcoin as payment again. If you purchase a Tesla using a cryptocurrency, like Bitcoin, would Tesla recognize the receipt of an asset and record ordinary business income?  How would you account for your purchase of the Tesla in exchange for Bitcoin?  Would different tax and […]

The Return of Internet Gambling

CHAD PASTERNACK — In 2006, the Unlawful Internet Gambling Enforcement Act (“UIGEA”) took the online gaming community by storm and made wagering on games of chance illegal. Subject to the definitions of the statute, which forbid games predominantly subject to chance, online poker ceased to exist legally in the United States, despite requiring skill. The UIGEA […]

Taxes and Penalties of the Affordable Care Act

ANTONIO ROMANO — “The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several states, and without regard to any census or enumeration.”  In 1913 the states ratified the 16th Amendment, and in doing so gave birth to the Federal Income Tax.  At its advent, the […]