TIL the reason Abba wore ridiculous outfits was to avoid paying taxes through a weird loophole in Swedish tax law.
TIL the reason Abba wore ridiculous outfits was to avoid paying taxes through a weird loophole in Swedish tax law.
New book reveals band's style was influenced by Swedish laws that allowed cost of outfits to be deducted against tax
According to Abba: The Official Photo Book, published to mark 40 years since they won Eurovision with Waterloo, the band's style was influenced in part by laws that allowed the cost of outfits to be deducted against tax – so long as the costumes were so outrageous they could not possibly be worn on the street.
We have the same tax law in America. Can't deduct clothing that you could wear for non work.
You'll never believe this one crazy Swedish law that most modern tax codes also have!
My aspie ass laughs at the squares in the tax office and their droll perspective on casual wear!
I can't wear a suit if I'm not working. Sounds like claim time.
I also can't use suit while working. Ok I'll come clean, I don't have any suits.
LOL wut?! Quote me chapter and verse please, actual law, case law or tax code.
Y'all really believe anything anyone says as long as it conforms to your preexisting beliefs, don't ya? Dunno, sounds like a rather conservative mindset to me.
LOL wut?! Quote me chapter and verse please, actual law, case law or tax code.
Uniforms are tax deductible... The point of it being a uniform is that you distinctly wear it for work purposes. This is well known. Not sure why you're acting like a twat about it. https://turbotax.intuit.com/tax-tips/jobs-and-career/how-to-use-work-clothes-as-a-tax-deduction/L59P1ocW1
Wouldn’t it be cheaper just to wear normal clothes when you perform?
Or were they so broke that they wore their costumes as normal clothes “on the street”?
This isn’t making a lot of sense to me either way.
I prefer performers resemble superior race ambassadors from a yet undiscovered groovy exoplanet
I'm guessing they didn't pay for the costumes themselves. They just got to write off the cost because they were wearing them. But I don't know how it works for sure.
Band member 1 makes a costume for band member 2. Material cost: $12. Band member 1 sells it to band member 2 for $15,000.
Band member 2 makes costume for band member 3...
Write off not just the materials cost, but the purchase price.
The costume making income is below the taxable income so it's not taxed.
Band income goes into a trust, rather than being paid directly to members. Members are all board members on the trust and get paid a salary.
And so it goes, round the washing machine of accounting.
They probably wanted nicer clothes than normal but were able to save more by springing for something that qualified for a deduction.
You don’t know what I’m willing to wear on the street, Swedish tax laws!
Did the guardian cut off the article on accident?
There's this passage at the end of it that just doesn't seem to relate to the rest:
In 2007 Ulvaeus was wrongly accused of failing to pay 85m kronor (£7.9m) in Swedish taxes between 1999 and 2005, and went on to successfully appeal against the decision.
Like, OK, it is about taxes but specifically about the taxes on the stage clothes of the 70s/80s, so how does talking about his taxes between 99 and 05 add anything to the discussion?
Maybe that's how this smart tax strategy got uncovered?
Editors are clearly woke
Take those write-offs where you can, I get it
Why does this tax exists? For taxing ads? Like for promoting a clothes brand?
I think you are missing the point. You can declare products you buy as a business expense, as long as they are used mostly for business purposes. In Swedish law, you can't declare clothing as a business expense because you will wear those clothes in you day to day life. The only exception is clothes that would look silly in day to day, like a clown suit, or mechanic overalls.