I get a kick out of the leftwing loons. The endorse all kinds of government programs then turn on them when they need to feel morally superior.
Meanwhile, Joe Biden uses an S-Corp to reduce his taxes.....
https://www.washingtonexaminer.com/...t-amazons-taxes-they-just-want-to-raise-taxes
However, their federal corporate liability is zero because they used several bipartisan tax deductions and credits which were designed to promote investment and growth:
Meanwhile, Joe Biden uses an S-Corp to reduce his taxes.....
https://www.washingtonexaminer.com/...t-amazons-taxes-they-just-want-to-raise-taxes
However, their federal corporate liability is zero because they used several bipartisan tax deductions and credits which were designed to promote investment and growth:
- The research and development credit, which allows companies to quickly recover the cost of expenditures for research and experimentation. This credit has bipartisan support — it was first created under President Ronald Reagan and was routinely extended and then made permanent by Congress with the support of President Barack Obama.
- Full business expensing, which allows companies to deduct the cost of new equipment purchased. In the words of the Obama White House, expensing allows businesses “to expand or hire new workers right now, and provides a strong incentive to increase investment now, creating even more jobs.”
- Carry forward of Net Operating Losses from previous years.
- Deductions for stock compensation granted to employees. As noted by Bloomberg, the stock compensation deduction may leave the government better off because the income is taxed at a higher rate (the 37% top individual rate rather than the 21% corporate rate).
