Tag

Taxable Income

All articles tagged with #taxable income

entertainment1 year ago•2 min saved

"Inside the $170,000 Oscars Gift Bag: Luxury Trips, Experiences, and Innovative Products"

The top acting and directing nominees at the 96th Academy Awards will receive swag bags from Distinctive Assets valued at over $170,000, including luxury travel experiences and products. However, these gifts are considered taxable income, with potential tax bills reaching over $60,000 for federal taxes and even more for California residents. The swag bags include items such as a $50,000 trip to the Swiss Alps, skincare products, a micro-needling treatment, and a wine fridge. The Oscars will be broadcast live on Sunday, March 10th.

via Robb Report|

#distinctive-assets #entertainment #nominees

entertainment2 years ago•1 min saved

"Inside the $500K Golden Globes Swag Bag: Lavish Gifts for Winners and Presenters"

The Golden Globes swag bags for this year's awards show are valued at half a million dollars, making it potentially the most valuable gift bag ever. While not all recipients receive every item, the bags are given to all 83 nominees, who can select from a catalogue of luxury items. The swag bag includes extravagant offerings such as private-jet credits, yacht charters, and the world's most expensive bottle of wine. However, any gifts accepted by celebrities are considered taxable income.

via The Cut|

#awards-season #entertainment #golden-globes

finance2 years ago•0 min saved

"IRS Reveals 2024 Tax Brackets, Deductions, and Contribution Limits"

The IRS has announced higher federal income tax brackets and standard deductions for tax year 2024. The top rate of 37% will apply to individuals with taxable income above $609,350 and married couples filing jointly earning $731,200. The standard deduction will also increase, with married couples filing jointly able to claim $29,200 and single filers able to claim $14,600.

via CNBC|

#finance #income-tax-brackets #irs