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An important thing that this joke misses is that both economists now also owe federal income tax and social security tax.
by sssilver 8mo ago
An important thing that this joke misses is that both economists now also owe federal income tax and social security tax.
- TedDoesntTalk 8mo agoWere the payments considered income?
- direwolf20 8mo agoYes, but they just didn't tell the IRS and nobody was any the wiser
- jermaustin1 8mo agoYes, but they were under the 1099 reporting limits, while they both owe taxes on them, neither were required to report it to the IRS... assuming this is the one and only time they paid each other for services rendered.
- RobotToaster 8mo agoIf they routed the payments through a shell company it would be written off as business entertainment expenses.