By Steve Huff 9/17/12 3:22pm

Dance

Nite Moves (screengrab)

Nite Moves Strip Club Seeks Same Tax Exemptions as New York City Ballet

Nite Moves, a strip club in Albany, N.Y., deserves the same treatment as the New York City Ballet in the eyes of the tax man. That’s the basic argument before New York’s highest court right now. Nearly a half-million dollars are at stake if the establishment wins the case and achieves tax-exempt parity with other fine purveyors of the terpsichorean arts. Public Radio International’s Studio 360 reports that the club has been victorious in the past: Read More

By Foster Kamer 9/13/12 1:06pm

TAX ON TAX ON TAX

george-bush-kanye-west-statement

Mitt Romney’s Tax Rate Enshrined in New Kanye West Song

If there’s one thing all Americans likely understand in some cursory manner about Mitt Romney, beyond the matter of his religion, it’s that something is curious about the way he pays his taxes. Most Americans, for example, don’t have dealings with shell corporations in the Cayman Islands. Also, in the circumstance that they’re asked for their tax returns, most Americans usually don’t have a choice as to whether or not they’re going to produce them. But as of yet, the Republican candidate for the highest office in the land hasn’t exactly seen his tax returns become a matter of interest within pop culture. Until now. Read More

By Kim Velsey 6/14/12 10:00am

Money troubles

Start saving! (Tax Credit, flickr)

The Tax Man Cometh for Your Condo: Albany Must Act or Unbalanced Apartment Taxes Will Jump

Time. We really have so little of it. Just a few years ago it seemed like condo and co-op owners had all the time in the world with their beloved tax abatement and now it’s expiring.

There are plenty of abatements out there, of course—ones for new construction and capital improvements, senior citizens and veterans, but this one is special. This is the one that gives a generous 17.5 percent property tax reduction to just about all co-op and condo owners. And it’s going to die on June 30 if an extension doesn’t come along to save it.

The situation has looked bad before, of course. The abatement, first passed in 1996 to help offset the disparity between the tax rates of co-op and condos versus one- to three-family houses, has required several renewals. Still, have things ever been this dire? Read More

By Foster Kamer 4/10/12 1:30pm

RADVERTISING

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The Buffett Rule: A Slice of Advertising and Marketing Genius

President Barack Obama is set to roll out his backing of The Buffett Rule, which will be at the center of his campaign, reports the Financial Times. The Buffett Rule is being pitched as a “simple principle” of American tax codes inspired by Warren Buffet’s now-famous claim that his secretary pays a higher tax rate than himself because of the voodoo implicit in capital gains tax rates and the like that benefit the country’s top earners. It is brilliant, if only for already being one of the most well-branded pieces of politics in the history of legislation. Think about this less as a political play, or a piece of propaganda, and more one of brilliant advertising work.

Consider: Read More

By Elise Knutsen 12/06/11 11:32am

Manhattan Transfers

Clarissa and Edgar Bronfman

Edgar Bronfman Jr. Loves His Wife to the Tune of $16 M.

Edgar Bronfman Jr. announced yesterday that he was stepping down from his position as the chairman of Warner Music Group, effective January 31. Turns out he is stepping down from his perch at 812 Park Avenue, as well.

According to city records, Mr. Bronfman has transferred sole control of the triplex penthouse to his wife Clarissa Bronfman, with whom he bought the home in May for $16 million. Read More