John, the tax advisor had just reached home and read the story of Cinderella to his five-year-old daughter for the first time.
The little girl was fascinated by the story, especially the part where the pumpkin turns into a golden coach. Suddenly she piped up, "Daddy, when the pumpkin turned into a golden coach, would that be classed as income or a long-term capital gain?"
Wednesday, June 13, 2007
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