All Eyes Are on England for Royal Baby Watch

Update: The baby who would be king has a name. He is George Alexander Louis and will be referred to as His Royal Highness Prince George of Cambridge.
 
What Are the Odds? And the Tax Implications?
People love to guess and, better still, to bet on the outcome of events like a high-profile birth. In the days leading up to the birth on July 22, CBSNews reported that two bookies had "George" as the favorite boy's name for the new arrival. One bookmaker was giving 6/1 odds George would be the pick for the first name, and another was giving 10/1 odds. "Alexander" as the first name had 18/1 odds from one bookie, and 20/1 from another, but it ended up being the royal baby's middle name. The baby's third name, "Louis," would've paid 25/1 odds had it been chosen as the first name.
 
There's no end to the way people seek to make a little free money, and some people surely did rake in the winnings on this one. Not to be a wet blanket, but . . . just a reminder for those US gamblers who won some money on baby George – those winnings are taxable!
 
###
 
Update: England has a new royal! It's a boy, born at 4:24 p.m. July 22. He's third in line to the British throne, after his grandfather Prince Charles and his father, Prince William.
 
While we don't know the baby's name yet, we do know he's eight pounds and six ounces. 
 
###
 
By Teresa Ambord
 
All eyes is right. At least the eyes of females. Employers across the United States as well as across the pond are scratching their heads wondering why nothing is getting done. But at least one British journalist said she already warned her boss she'd be updating the Daily Mail home page every half second, waiting for news of the latest royal tax deduction.
 
Don't fault the females too soon. Every March, US employers know ahead of time their male employees (at least mostly male) will be distracted by March Madness . . . and that runs all the way into April. 
 
So today, it's our turn. If US employers notice production is slightly off, it may be because all female eyes (at least mostly female) are tuned to the UK news. I don't suppose business interruption insurance will kick in for that.
 
According to Fox News, Kate Middleton was admitted to St. Mary's Hospital early this morning, July 22. She and Prince William arrived in a private car. The new royal heir will be born in the same wing of the hospital where his/her daddy and Uncle Harry were born. 
 
Thus far, Kate's exact due date has been a closely guarded secret, keeping interested parties on the edge of their seats. Once the future monarch is born, protocol requires that Queen Elizabeth II  the great-grandmother  will be the first to be notified.
 
So far, all that's known is that "things are progressing as normal," according to Sky News royal correspondent Paul Harrison, who added Kate is doing very well.
 

Already a member? log in here.

Editor's Choice

Upcoming CPE Webinars

Dec 3The materials discuss the concepts and principles in the AICPA’s new special purpose framework.
Dec 8Kristen Rampe will cover how to diffuse the tension in challenging situations in this one-hour webinar.
Dec 9A key component to improving your firm’s workflow efficiency while enhancing your profitability at the same time is how you leverage emerging technologies.
Dec 16Kristen Rampe will give tips on how to bring confidence into the room and build a valuable network.