If you're battling tax season stress with therapeutic adult coloring books, stop using the dandelion crayon! It's now a classic, after Crayola announced on Friday, March 31 (which is National Crayon Day) that they will be retiring dandelion in favor of a new, yet-to-be-revealed blue shade1 and Crayola enthusiasts will be able to participate in a naming contest for the new color. The dandelion crayon will be embarking on a 4-week retirement tour.
While this is not the first time Crayola has retired colors, it is the first time that a color included in the 24-count box had been removed.2 They retired maize, lemon yellow, blue gray, raw umber, green blue, orange red, orange yellow, and violet blue in 1990 and replaced them with vivid tangerine, jungle green, cerulean, fuchsia, dandelion, teal blue, royal purple, and wild strawberry.
To honor the dandelion crayon, there is a special 15-inch, two-pound version for sale, handmade made by "expert Crayonologists using formulas and techniques dating back to 1903." There is also a limited edition 64-count box of ONLY dandelion crayons available.
1 www.cnbc.com/2017/03/31/crayola-ditches-dandelion-to-add-new-blue-crayon-to-box.html
2 www.usatoday.com/story/money/nation-now/2017/03/31/crayola-gives-two-clues-dandelion-crayon-replacement/99862420/
2017 is becoming the year of the rally cry, and the newest addition to the arsenal is a plug for Christine Garcia's second attempt to repeal sales tax on feminine hygiene products: "Basics before booze and ladies over liquor."1
This is the second time Garcia has introduced a bill proposing a sales tax break for feminine hygiene products — last year's AB 1561 passed the Senate and Assembly, and then was shot down by The Man, who was veto-crazed last year.
AB 9 exempts certain feminine hygiene products from sales tax, but offsets the loss with a $1.20 per gallon excise tax on liquor, for a total excise tax of $4.50 per gallon. Lawmakers estimate that would be an additional 1.5 cents per serving.
Garcia quotably noted: "There is no happy hour for menstruation. Our tax code needs to reflect the fact that it's not okay to tax women for being born women. No one can claim liquor is a basic necessity of life." Well… that last part might be going a bit too far.
Of Garcia, I think we can say, "Nevertheless, she persisted."
Here's a stumper for you … click below to reveal the answer.
Your client Esteban, a chef of growing acclaim, recently left New York because he couldn't stand the thought of a burrito being classified as a sandwich and was forced to pay sales tax on his most notable creation, the Spicy Mayan Lobster Burrito con Mojo. He came to California to be a part of the wildly expanding culinary scene in Los Angeles and plans to open his own restaurant at Row DTLA, an exciting and massive complex in the downtown Arts District. In the meantime, he has met Siouxzi, a creative mixologist who makes an astonishing cranberry lime margarita. The two want to form a business.
Esteban and Siouxzi are trying to decide whether to form as an S corporation or an LLC. They plan to invest $25,000 each, and they believe they will operate at a $75,000 loss per year for the first two years. To cover the losses, the business will have a $100,000 line of credit, which they both must personally guarantee. Under which business structure will Esteban and Siouxzi be able to deduct all of the losses?
Answer:
The should form an LLC, because they will be able to include the loan guarantee as part of their basis; whereas the S corporation basis is limited to their contributions and loans they personally make to the business. For more information, see Spidell's Special Report, Life Cycle of LLCs and Partnerships.
Kathryn Zdan, EA, is not only director of the editorial department, she also "rocks the house" as a regular in curling bonspiels around the country. She also enjoys foreign and avant-garde film, baking, and the Investigation Discovery channel.
Last proud accomplishment: helping to launch Spidell's California Minute!
Diane Fuller is a woman of many talents which include writing children's poetry, taking unwitting challengers to town in poker, and whipping up Michelin-worthy dishes from scratch. Find her laughing with her two grandkids.
Last proud accomplishment: I finished a book of 10 children's poems about using the internet — need an artist
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Austin Lewis loves classic rock, despite being born a few decades late, and he goes to more concerts than anyone else in the office. He's also a big baseball fan, and his worlds collided in 2014 when he saw Paul McCartney at Dodger Stadium.