Michael Bekas quoted in "Jeter baseball fan catches bad tax advice"July 13, 2011
The fan who caught Derek Jeter’s 3000th career hit ball and returned it received lots of baseball goodies including box seat tickets for the remainder of the Yankees 2011 season. Since the story broke, there has been much speculation about the value of the gifts and how much tax the fan, Christian Lopez, will have to pay the IRS.
Jeter is expected to donate that winning ball to the Baseball Hall of Fame in Cooperstown, NY. But what if Lopez had kept the ball and donated it himself? What might his tax liabilities be?
AccountingWeb spoke to several tax specialists including Marks Paneth’s Tax Partner, Michael Bekas, who “hit the ball out of the park with his analysis of the situation”, according to the article. In the summer of debt ceiling wrangles and UK hacking scandals, we thought you might enjoy reading “Jeter baseball fan catches bad tax advice” for some interesting tax angles and information.
Please click here to read the Accounting Web article.