Misinformation Watch: Do Big Companies Pay Their Fair Share ...

  • 📰 AllSidesNow
  • ⏱ Reading Time:
  • 60 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 27%
  • Publisher: 51%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

MISINFORMATION WATCH: One claim that we hear often is that big companies with massive profits pay little to no taxes. But is that accurate?

In regard to federal taxes, the definition of taxable income in the legal code has a significant impact on how much taxes corporations pay. It’s not that these companies are just “choosing” not to pay taxes; they are taking advantage of statutes in the legal code and capitalizing on loopholes.

First, the tax code allows companies to deduct past losses from their profits. This prevents corporations, companies and individuals with long-term net losses from being taxed as much as they would be taxed otherwise. In other words, if a company had major losses over the last two years but made a small profit this year, it would still have an overall loss over three years.

Which expenses that can qualify as an immediate expense versus which expenses must be depreciated over a period of time is governed by a dense part of the U.S. Internal Revenue Code known as. Generally, immediate expense reduction can encourage more capital investment in the economy by reducing the taxes companies pay that year, the same year they make the capital investment.

So, just because a business pays “zero income taxes” doesn’t mean it’s not paying any taxes at all, nor does it necessarily mean it is “getting away with something” considering it may just be making up losses from past years or have other deductions that might be considered reasonable. The phrase “tax loopholes” may imply that a company is getting away with something, but that is not necessarily true.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.

You guys should take a minute and spellcheck/edit this piece.... there's a few glitches in it.

Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 572. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Layoff tracker: Mass layoffs by tech companies big and small hit the Bay AreaMeta, Twitter, Stripe, Robinhood, Lyft, Netflix. Here's an overview of Bay Area tech companies that have recently executed a mass layoff.
Källa: abc7newsbayarea - 🏆 529. / 51 Läs mer »

Private companies to face revaluation cuts next year, executive at big tech investor warnsTech investor Baillie Gifford has warned of a tough 2023 for private companies as the market has not felt the "gravitational force" of higher...
Källa: MarketWatch - 🏆 3. / 97 Läs mer »

Big Tech Companies Lay Off Thousands of WorkersOne after another, big tech companies laid off thousands of workers in recent months. See potential bias and similarities in coverage from CNBC, CNNBusiness and FoxBusiness: TechLayoffs Economy
Källa: AllSidesNow - 🏆 572. / 51 Läs mer »