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Hollywood swag remains;
Is tax still around, too?

January 13, 2008

Planning to watch the Golden Globes news conference tonight? Me neither.

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Half the fun of any awards show is watching the attendees and snarking about their attire, coifs, reactions and acceptance speeches.

But while the writers’ strike effectively killed the show itself this year, Hollywood swag lives.

Instead of handing out carefully packed swag bags, 2008 goodies were distributed last week at "gift suites" where celebrities could discreetly partake of myriad indulgences.

One distribution point was The Secret Room, an invitation-only event "at a private location in Brentwood, CA on January 10 and 11," according its PRNewswire announcement (printed here by Reuters).

The Secret Room sponsors handed out not only the standard jewelry, clothing and fragrance products, but also trips to resorts, cosmetic dental and surgery services, and even a year of free dining from one L.A. restaurant.

In addition, on-site services at The Secret Room included Botox, Restylane and massages provided by Bella of Beverly Hills, and lunchtime peels and Oxygen facials provided by The Treatment Room.

"Even though there’s a writers’ strike, it doesn’t mean that we shouldn’t be honoring actors for their accomplishments throughout the year," Gavin Keilly, a gift suite organizer, told the Associated Press.

Keilly, who operates GBK Productions, said that while some vendors were a bit uncomfortable, few of his clients canceled.

According to the New York Times, six companies (down from 10 last year) were still sponsoring gift events for the rich and the famous in conjunction with the Golden Globes.

"We were afraid no one was going to show up … and we almost backed out, but it really paid off," said Cindy Lott, who was touting Xtreme Lashes eyelash extensions at another event in Beverly Hills. "There were more RSVPs because people aren’t at their stylists."

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What about the swag tax?
No one’s talking, though, about any associated taxes this year.

Is it because there’s no consolidated, easy to evaluate gift bag to assess?

Or is it because the swag this year isn’t being given out in conjunction with perceived services performed by the recipients?

When Uncle Sam cracked down on swag bags last year, blogged about last year in "IRS makes call on booty," the position was that the goodies were payments to presenters and performers for doing a job at the ceremony, ergo taxable.

But with no ceremony this year, I guess sponsors of The Secret Room and similar events are just handing out very nice gifts, not paychecks.

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TAX-SAVVY WAYS 
TO WRAP UP 2026

It’s over! With October’s extended filing deadline behind us, it is now time to focus on year-end moves to reduce your 2026 tax bill. 

You’ll find ways to do just that on the Tax Tips page (see the More Tax Posts drop-down menu at the top of the blog), as well as the separate tax tip pages for each month, notably October through December. If you’re on the Tax Tips page, you’ll find a monthly list at the end of this column. If you’re on another blog page, you can head straight to the October tips; at the bottom of that tips page you’ll find links to all the other 11 months’ collections of tax advice.

Not to spoil what you’ll find in that tax advice, but it does cover such things as tax deductions for charitable donations, investment moves that could reduce tax due, and ways to max out your tax-favored retirement savings. 

Finally, as the year winds down, things get hectic. There are lots of other things to occupy our time, like the much more fun upcoming holidays. But don’t lose sight of taxes, since timing is key. To be of use, most tax moves must be made by the end of the tax year. That’s Thursday, Dec. 31, which also is the last business day of the year. 

So that you don’t miss that final tax year deadline, also keep an eye on the countdown clock below. It will keep you on top of just how much time is left to make important, tax-saving moves. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

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