Accentuating the caveat emptor perspective with critical commentary on financial disclosure. I adopt a skeptical persona and look for chinks in the teflon coating of financial disclosure. My job is to identify financial warts. Perhaps a Black Swan. Disclosure: I do not hold positions in stocks mentioned for three trading days before or after blog post.
Saturday, October 10, 2009
Obama Peace Prize Tax Deduction
So President Obama wins the peace prize. Seems a little early in his administration but we all wanted him to get it. The Nobel Peace Prize comes with a very serious cash award which is welcome by almost all manner of recipients. President Obama to his credit claims he will donate the funds to charity. This should generate a nice tax deduction. But will he claims the Peace Prize as income or is this considered to be a non taxable windfall. If its not taxable income and he gets a tax deduction, the US citizen just subsidized a peculiar manoeuvre in personal finance.