Tax-deductible lap dances

Nords

Nords

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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...
 
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.
 
Jay_Gatsby said:
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.
Click to expand...
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?
 
Jay_Gatsby said:
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.
Click to expand...
Are you referring to the success/failure of the merger; or to whether or not the stripper gave you the "Full Meal Deal".

Ha
 
Nords said:
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?
Click to expand...

I knew there would be someone who would start... :LOL:

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.
 
Jay_Gatsby said:
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.
Click to expand...

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.
 
retire@40 said:
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.
Click to expand...

Assuming there was a "happy ending", I doubt things could get any more personal than that... :D
 
cube_rat said:
Ugh, another hooker-like thread  :p
Click to expand...
I'm pretty sure that's not a tax-deductible entertainment expense...
 
Nords said:
I'm pretty sure that's not a tax-deductible entertainment expense...
Click to expand...

Not too sure. You got someone working on a laptop.
It's arguable. :)

JG
 
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