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Tax-deductible lap dances
Old 12-28-2005, 01:19 PM   #1
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Tax-deductible lap dances

I don't know if anyone has been following the sad tale of Robert McCormick, who was just trying to be a good businessman entertaining his clients with a night on the town and ended up being hit with a $241,000 American Express charge statement.

A thrifty consumer, McCormick (now the ex-CEO) says that he only spent $20K. I can see how that would happen in a strip club, especially if you're not careful with the tits tips.

It appears that the Mother of All Chargebacks has been successfully negotiated to a settlement. Sure hope you're not holding shares in Savvis, Inc.

I think the best part of the article is the author's keen sense of sarcasm...
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Re: Tax-deductible lap dances
Old 12-28-2005, 01:21 PM   #2
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Re: Tax-deductible lap dances

I've attended several M&A closings that were held in strip clubs. The entire "experience" (including the flat rate for the women assigned to the private party) was deducted as food/entertainment expenses associated with the transaction.

I don't know about you, but absent a "happy ending" a visit to a strip club to relieve the pressure from months of negotiations would seem to be counter-productive.
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Re: Tax-deductible lap dances
Old 12-28-2005, 01:27 PM   #3
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Re: Tax-deductible lap dances

Quote:
Originally Posted by Jay_Gatsby
I've attended several M&A closings that were held in strip clubs.* The entire "experience" (including the flat rate for the women assigned to the private party) was deducted as food/entertainment expenses associated with the transaction.

I don't know about you, but absent a "happy ending" a visit to a strip club to relieve the pressure from months of negotiations would seem to be counter-productive.
I'm just not going to touch, so to speak, any of those setups in that post. And that's independent of your definition of the term "straight man".

TH? Cut-Throat? Jarhead? Anyone else?
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Re: Tax-deductible lap dances
Old 12-28-2005, 01:36 PM   #4
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Re: Tax-deductible lap dances

Quote:
Originally Posted by Jay_Gatsby
I don't know about you, but absent a "happy ending" a visit to a strip club to relieve the pressure from months of negotiations would seem to be counter-productive.
Are you referring to the success/failure of the merger; or to whether or not the stripper gave you the "Full Meal Deal".

Ha
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Re: Tax-deductible lap dances
Old 12-28-2005, 01:58 PM   #5
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Re: Tax-deductible lap dances

Quote:
Originally Posted by Nords
I'm just not going to touch, so to speak, any of those setups in that post.* And that's independent of your definition of the term "straight man".

TH?* Cut-Throat?* Jarhead?* Anyone else?
I knew there would be someone who would start...

One caveat to my annecdote -- the closings were during the heyday of the dot-com boom, where everyone looked the other way as long as the money kept flowing.
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Re: Tax-deductible lap dances
Old 12-28-2005, 03:10 PM   #6
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Re: Tax-deductible lap dances

Quote:
Originally Posted by Jay_Gatsby
I've attended several M&A closings that were held in strip clubs.* The entire "experience" (including the flat rate for the women assigned to the private party) was deducted as food/entertainment expenses associated with the transaction.
It may have been deducted, but if the amounts were excessive, they were probably not deductible. The IRS doesn't allow deductions for expenses that could be deemed more personal in nature than business.
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Re: Tax-deductible lap dances
Old 12-28-2005, 03:35 PM   #7
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Re: Tax-deductible lap dances

Quote:
Originally Posted by retire@40
It may have been deducted, but if the amounts were excessive, they were probably not deductible.* The IRS doesn't allow deductions for expenses that could be deemed more personal in nature than business.
Assuming there was a "happy ending", I doubt things could get any more personal than that...
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Re: Tax-deductible lap dances
Old 12-28-2005, 04:23 PM   #8
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Re: Tax-deductible lap dances

Ugh, another hooker-like thread :P
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Re: Tax-deductible lap dances
Old 12-28-2005, 04:36 PM   #9
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Re: Tax-deductible lap dances

Quote:
Originally Posted by cube_rat
Ugh, another hooker-like thread* :P
I'm pretty sure that's not a tax-deductible entertainment expense...
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Re: Tax-deductible lap dances
Old 12-28-2005, 05:50 PM   #10
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Re: Tax-deductible lap dances

Quote:
Originally Posted by Nords
I'm pretty sure that's not a tax-deductible entertainment expense...
Not too sure. You got someone working on a laptop.
It's arguable.

JG
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Re: Tax-deductible lap dances
Old 12-28-2005, 06:22 PM   #11
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Re: Tax-deductible lap dances

Quote:
Originally Posted by Nords
TH? Cut-Throat? Jarhead? Anyone else?
Nah, i'm not into the cheap and easy today.
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Re: Tax-deductible lap dances
Old 12-31-2005, 12:12 AM   #12
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Re: Tax-deductible lap dances

This just encourages thinking inside the box... :
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