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List some possible tax implications for Mr Laliberte

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Reference no: EM132907021

Question - A trip to outer space by Guy Laliberte in 2009 was a taxable benefit. The trip was $41.8 million, paid and reimbursed to Cirque du Soleil's founder, as a business expense. The judge fixed the amount of the business-related portion of the trip to be about 10 percent or $4.2 million.

List some possible tax implications for Mr. Laliberte as an employee & the Cirque Du Soliel as the company.

Why would the company want to pay for the trip like this?

Reference no: EM132907021

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