Cheddar In, Cement Out
Open full sizeDebits & Credits, September 15, 2026. Laughs are nonrefundable.
Transcript. Panel 1, a night dock at 11:59. An importer with a clipboard stands beside a pallet of cheddar, Portland cement, toilet paper, and a motorboat. Client: “Midnight the list flips. Cheddar in. Cement out.” Panel 2, Debit holds a battered pamphlet, Tariff Act of 1930 §338. Client: “IEEPA is dead. 122 sunset. What hook is this?” Debit: “Smoot-Hawley. It still picks up.” Panel 3, Debit’s office, September 15 circled, Est. tax due, the “It depends.” mug. Debit: “Pay the estimate. We can classify the Gouda after lunch.”
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This alert is for general information only and is not tax, legal, investment, or accounting advice. Consult your own advisers before acting. Carlos A. Schmidt, MBT, MBA, CPA · Managing Member · carlos@lapresallc.com · (917) 558-6393.