Here’s a morbid bit of creative accounting, courtesy of the Wall Street Journal: if you work for Bank of America, J.P. Morgan Chase, or Wells Fargo, your employer may have taken out a life insurance policy on you.
A.I.G. is suing the government to recover over $300 million in tax breaks that the insurance company says were improperly denied. What sort of tax breaks? The sort otherwise known as illegal Cayman Island tax shelters.
Why bother with frequent flier miles when you can donate them to charity?
The donations are tax-deductible, making them an attractive alternative to the Sisyphean challenge of ferreting out an eligible seat.
Many non-profit organizations have frequent flier mileage donation packages, and several major air carriers have developed charitable programs using earned miles. Some are exclusive partnerships geared to one or two specific charities, while others have multiple organizations with quarterly or monthly rotations, allowing all the participating charities equal time to receive miles.
Peter Greenberg lists several charities that accept miles as donations, from the Make-A-Wish Foundation, to Save The Dogs, an Italian non-profit committed to rescuing stray dogs in Romania. — CAREY GREENBERG-BERGER
Energy Star appliances will save you enough money to warrant you purchasing them regardless of tax breaks, but hey, why not get some tax breaks?