Skull Pilot
Diamond Member
- Nov 17, 2007
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Berkshire Hathaway owes a billion dollars in back taxes.
Update: Warren Buffett’s Company Owes Nearly $1 Billion in Taxes | TheBlaze.com
Berkshire Hathaway Annual report link
http://www.berkshirehathaway.com/2010ar/2010ar.pdf
Now we all know that Buffett scams the tax code by paying himself a paltry 100K a year in salary for running a multibillion dollar company so as to avoid income taxes.
How does he get away with that when my own accountant said that I has better take a salary of 75K for running my business that grosses about 1.2 million a year?
How does a hypocrite like Buffett become the darling of the current administration when he clearly is one of the biggest tax dodgers around?
The answer is simple.
Warren Buffett has entered into a quid pro quo arrangement with the government where he will use his reputation to stump for higher taxes so his billion dollar tax bill will be erased.
So once again people will do anything to raise taxes on everyone but themselves.
As I said before anyone who wants to pay higher taxes is a moron and I don't think Warren Buffett is a moron because he has figured out how to pay less than most.
Update: Warren Buffett’s Company Owes Nearly $1 Billion in Taxes | TheBlaze.com
According to page 56 of the company report, At December 31, 2010 net unrecognized tax benefits were $1,005 million, or about $1 billion. McCarty explained, Unrecognized tax benefits represent the companys potential future obligation to the IRS and other taxing authorities. They have to be recorded in the companys financial statements.
He added, The notation means that Berkshire Hathaways own auditors have probably said that $1 billion is more likely than not owed to the government.
$1 billion is not an insignificant chunk of change, even for Buffett, representing about 0.2 percent of the companys $372 billion in total assets.
Berkshire Hathaway Annual report link
http://www.berkshirehathaway.com/2010ar/2010ar.pdf
Now we all know that Buffett scams the tax code by paying himself a paltry 100K a year in salary for running a multibillion dollar company so as to avoid income taxes.
How does he get away with that when my own accountant said that I has better take a salary of 75K for running my business that grosses about 1.2 million a year?
How does a hypocrite like Buffett become the darling of the current administration when he clearly is one of the biggest tax dodgers around?
The answer is simple.
Warren Buffett has entered into a quid pro quo arrangement with the government where he will use his reputation to stump for higher taxes so his billion dollar tax bill will be erased.
So once again people will do anything to raise taxes on everyone but themselves.
As I said before anyone who wants to pay higher taxes is a moron and I don't think Warren Buffett is a moron because he has figured out how to pay less than most.