Tax Rates

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Bada-Ching!

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The acting world lost one of its brightest lights when Sopranos star James Gandolfini died of a sudden heart attack while touring Italy with his family last month. Gandolfini was the iconic face of HBO's acclaimed drama, which made cable television, rather than the movies, the place for serious actors to "make their bones." Gandolfini himself became the model for a new breed of anti-heroes like Breaking Bad's Walter White and Mad Men's Don Draper. Few critics would dispute The Sopranos place as one of the greatest dramas in TV history.

Hollywood stars have always been famous for bringing home the big bucks, and Gandolfini was no exception. He fought as hard as a real mobster to maximize his pay. But he was legendarily generous, too. Co-star Steve Schirripa, who played Bobby Baccalieri on The Sopranos, recalled that in Season Four, Gandolfini gave each of his co-stars $33,000 for "sticking by him." And after holding up filming on

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The IRS at the Wedding

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You've all heard that April showers bring May flowers. That's fine and all, and it doesn't leave anything for the IRS unless you're a farmer or a florist. But June brings brides — young brides, old brides, blushing brides, even bridezillas. Now the IRS pays attention, because now the IRS gets to reach out for all sorts of extra taxes from the happy couple.

So, Mike and Sarah meet in college, fall in love, and get married. Maybe they host the big day at their college chapel. Maybe they get creative with the reception and throw a barbecue in a barn. What will the IRS think?

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You Think Your Taxes Are High?

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The United States and France have been friends for centuries. The French navy provided much of the military might we needed to defeat the British in the Revolutionary War. The French Revolution inspired our own founders to the promise of republican government. And French territory, acquired in the Louisiana Purchase, provided land for 15 of today's 50 states. While the United States and France never shared the same sort of "special relationship" as the United States and England, the two countries have traditionally shared a warm bond.

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Very Serious Stuff

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When most of us think "taxes," we think of federal taxes — the IRS, Form 1040, and everyone's favorite holiday, April 15. It's true that the IRS is full of Very Serious People collecting Very Serious Taxes. But we can't forget state and local governments either. They collect their fair share of serious taxes — but they impose some pretty silly tax laws, too. Here are some of our favorites:

  • California offers a tax exemption for income you receive to settle claims arising out of the Armenian genocide. If you or your ancestors were persecuted by the Ottoman Turkish Empire between 1915 and 1923, your income from that settlement is tax-exempt. But sadly, if the persecution occurred in 1924 or later, your friends in Sacramento want a share.
  • California also imposes a 33% tax on fresh fruit bought from vending machines. Apparently, the folks in charge of promoting healthy lifestyles would rather see you buy cookies or potato chips!
  • Maryland imposes a $5.00/month "Chesapeake Bay Restoration Fee" on homeowners and businesses to raise funds to improve sewer treatment plants that

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More Gossip About Presidents and Taxes

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If you saw your 2012 tax return splashed all over the internet, you'd probably be pretty unhappy. Maybe you don't want your family, friends, or colleagues to know just how well you did last year. Or maybe you'd want them all to think you had done better than in reality. (Donald Trump is famous for pestering the folks who compile the Forbes 400 list of the richest Americans to rank him higher than they do.) But most of us would rather put our most embarrassing eighth-grade class photo online than our taxes.

Well, President Obama and his family don't have that luxury. Legally, presidential tax returns are as private as anyone else's. However, presidents, vice-presidents, and major party nominees dating back to Richard Nixon have released at least some of their tax return information. The Obamas released their 2012 returns on Friday, and they reveal an intriguing snapshot of presidential finances.

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Heeeeere's . . . Jimmy!

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Newsman Edward R. Murrow famously said that television is a vast wasteland. But that doesn't stop millions of Americans from tuning in every night for their favorite comedians. Jay Leno, David Letterman, Conan O'Brien, the two Jimmies (Fallon and Kimmel) and their wannabe imitators squeeze out one last wisecrack before bedtime.

NBC's Tonight Show has been broadcasting since 1954, which makes it the longest-running entertainment program on air. Amazingly, it's had just five hosts since it's inception: Steve Allen from 1954-57, Jack Paar from 1957-1962, the legendary Johnny Carson from 1962-1992, Jay Leno from 1992-2009, and Conan O'Brien for eight short months in 2008-2009. Leno returned in March of 2010, but, in Hollywood's worst-kept secret, announced last week that he would be giving up his chair to current Late Night host and Capitol One pitchman Jimmy Fallon. Leno congratulated Fallon in his