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https://www.wsj.com/articles/you-take-a-friend-on-your-yacht-is-it-a-taxable-gift-c590b6a0

You Take a Friend on Your Yacht. Is It a Taxable Gift?

Billionaire Harlan Crow took Clarence Thomas on lavish trips and more, and that’s shining a spotlight on U.S. gift taxes for everyone. ‘It’s not a gift, it’s a party,’ one tax pro says.

By
Laura Saunders

Taxes touch every aspect of Americans’ lives. Consider the controversy over benefits received by Supreme Court Justice Clarence Thomas from his longtime friend, Dallas billionaire and political donor Harlan Crow.

Crow provided Thomas with luxury travel on private planes and his yacht, paid private-school tuition for his grandnephew, and bought and improved his mother’s house while allowing her to live in it for the rest of her life, ProPublica has reported.      

The...

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