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(NYPost)   3 Martini lunch will rescue economy   ( divider line
    More: Spiffy  
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1856 clicks; posted to Main » on 04 Oct 2001 at 8:20 AM (16 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»

7 Comments     (+0 »)
2001-10-04 08:55:11 AM  
Grimes: Well, some kind of farm animal anyway. And earlier today, I saw him asleep inside a radiation suit. Can you imagine that he, he was hanging from a coat hook.

Lenny: He had three beers at lunch. That would make anybody sleepy.
2001-10-04 09:02:17 AM  
What about the average shmo. Can i tax deduct my taco bell meal?
2001-10-04 09:09:35 AM  
The "3 Martini lunch" is a cute way to dismiss the issue, but it's more complex than that.

There's a computer trade show coming next weekend. I've got some people going, and Saturday night, they go out for a big dinner and relax and celebrate. Bill, $100, and not a drop of alcohol need be involved. (Could easily be a lot more depending on how many and where.)

In the books I have to keep for the SEC, that's an expense for $100, reducing my monthly profit for $100. But for the books I have to keep for the IRS, that's an expense for $50, reducing my taxable income by only $50. I'm being taxed for $50 of income I didn't get, though if I'd spent that $100 on advertising it would all been accepted by the IRS.

So, the IRS wants me to spend money with advertisers, not with restaurants. If that's the policy, cool, I can go with that. Is that the policy we want?
2001-10-04 09:12:13 AM  
FarkDaPoor, nope, you can't deduct your taco bell meal. Nor can my employees deduct what they pay on meals, when I tell them that since the tax law declares that paying them for a meal isn't really a business expense, no more after convention meal.

Naw, I won't do that to them. But I'll be having fewer people traveling, and fewer events at restaurants.
2001-10-04 09:40:28 AM  
Now that's what I call a good move!

There's nothing better than coming back to work blasted.
2001-10-04 10:35:11 AM  
"To alcohol...the cause of, and solution to, all of life's problems!"
2001-10-04 11:22:22 PM  
And, if it doesn't, we'll still be too drunk to care!
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