100% Marijuana Tax?
According to the IRS tax code, Section 280E, marijuana businesses are required to pay taxes on their gross profits, not net profits like every other business. This section of the code denies even legal dispensaries tax deductions since marijuana remains a federally controlled substance. The IRS says it has "no choice but to enforce the tax code"...right, as much as I'm sure the IRS would like to do something about it, their hands are tied...Read More
They Used to Say You Just Rent It...
...And now they say, “we’ll recycle it." Check this out… Last week, organizers at Northern Europe’s largest music festival, Roskilde, and the Danish Agriculture & Food Council partnered to collect 25,000 liters of urine from more than 100,000 festival goers. In a program they’re calling, “From piss to pilsner.” That right, the collected goods will be sent to local farmers to fertilize barley crops that will then be used to make beer! This program is expected to create 425 kegs of beer that will be sold at the Festival in 2017...I guess everything really does come full circle!...Read More
If It Ain't Broke Don't Fix It
That's the lesson in the airline industry has learned over the last several years. A recent report found that ancillary fee revenue grew at a double-digit pace last year. Yes, you heard that right. If you've flown anywhere in the last few years you've undoubtedly experienced this thorn in your side. Well, it amounted to a record $38 Billion in additional revenue for airlines. In 2007, ancillary revenue was about $2.5 Billion. So don't be surprised to see these nit picky charges continue to pop-up...if we're willing to pay it, they'll be willing to charge for it!...Read More
How Much Is That Doggy In The Window?
The American Pet Products Association estimates that Americans will spend over $60 Billion on pets in 2015. That's up about 25% from 2010. Dogs, not surprisingly, are the most popular pets for U.S. households, and they also tend to be the most expensive. Basic expenses per dog, not including ACL surgery or a new hip, are expected to reach $1,641 per year. Good thing Starbucks doesn't charge for the "puppy lattes" or "pup-uccinos"...Read More
Does Jack Welch Know About This?
General Electric, the global industrial giant, has announced they're implementing a "permissive approach" to paid time off. The idea is that you can take as much time off as you need, provided you are getting your work done and have gotten manager approval. The new policy affects about 43% of its salaried U.S. workforce or 30,000 employees...According to the Society for Human Resource Management, only 2% of employers have a policy like this in place and most of them are start-ups. Looks like GE is taking a page from Steve Jobs' book rather than ole' Jack Welch...Read More
100% Marijuana Tax?