Inthemiddle
Rookie
- Oct 4, 2011
- 6,354
- 675
- 0
- Banned
- #1
Let's take a given company. We'll call them Biztime.
Biztime makes a certain amount of money every year. Of course they make more or less based on how well they run their business.
Biztime's income creates for them a certain tax liability.
But, Biztime's savvy tax accountants find a variety of tax credits, some of them maybe sounding almost silly on their face. Like a tax credit for a piece of machinery that is essentially a mega sized garbage disposal. Biztime found out about this credit and decided to go ahead and buy one for its employee cafeteria.
Biztime also realizes that they qualify for additional credits and subsidies simply to help them survive as a business. They decide that even though they don't really need them, they'll claim them anyway, because they qualify according to the rules. And it's all about having as much money as you can, right?
Biztime is, overall, a very successful company. They have no problem paying their bills, paying their employees, paying their executives, paying out to their share holders. In fact, they are one of the biggest companies in the country. They file their taxes, and reap the benefits of being attentive to the tax code and to all the various things for which they qualify.
After all this is said and done, I want to know what about this is wrong, or right, and why. What has Biztime done that is unethical, immoral, or whatever other reason that you might think up to insist that they shouldn't have reaped these benefits.
Biztime makes a certain amount of money every year. Of course they make more or less based on how well they run their business.
Biztime's income creates for them a certain tax liability.
But, Biztime's savvy tax accountants find a variety of tax credits, some of them maybe sounding almost silly on their face. Like a tax credit for a piece of machinery that is essentially a mega sized garbage disposal. Biztime found out about this credit and decided to go ahead and buy one for its employee cafeteria.
Biztime also realizes that they qualify for additional credits and subsidies simply to help them survive as a business. They decide that even though they don't really need them, they'll claim them anyway, because they qualify according to the rules. And it's all about having as much money as you can, right?
Biztime is, overall, a very successful company. They have no problem paying their bills, paying their employees, paying their executives, paying out to their share holders. In fact, they are one of the biggest companies in the country. They file their taxes, and reap the benefits of being attentive to the tax code and to all the various things for which they qualify.
After all this is said and done, I want to know what about this is wrong, or right, and why. What has Biztime done that is unethical, immoral, or whatever other reason that you might think up to insist that they shouldn't have reaped these benefits.