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Started By
Message
I’ll bet not one if you tax nerds can tell me how much income tax NYT
Posted on 9/29/20 at 6:03 pm
Posted on 9/29/20 at 6:03 pm
9
Posted on 9/29/20 at 6:03 pm to Robin Masters
Zero
Posted on 9/29/20 at 6:12 pm to Robin Masters
what do you think you have here?Posted on 9/29/20 at 6:15 pm to Jorts R Us
quote:
hat do you think you have here?
I’m not sure. That’s why I challenged you guys to tell me. Lol.
Posted on 9/29/20 at 6:15 pm to Robin Masters
Can someone explain to me what is suppose to be going on in this thread?
Posted on 9/29/20 at 6:19 pm to Robin Masters
Don't know...
But the NYT said Trump has paid 24 million over the last decade in the same article they claim he only paid $750 2 years.
Of course if you read the article the 24 million was paid because of the Alternative minimum tax law.
They use semantics to claim Trump hasn't been paying income tax, when he is paying AMT. AMT is an income tax law that basically says regardless of losses, regardless of charity giving, regardless of tax shelters written in to the tax code, if you make more than x you have to pay a minimum of y
But the NYT said Trump has paid 24 million over the last decade in the same article they claim he only paid $750 2 years.
Of course if you read the article the 24 million was paid because of the Alternative minimum tax law.
They use semantics to claim Trump hasn't been paying income tax, when he is paying AMT. AMT is an income tax law that basically says regardless of losses, regardless of charity giving, regardless of tax shelters written in to the tax code, if you make more than x you have to pay a minimum of y
Posted on 9/29/20 at 6:22 pm to Loserman
quote:
But the NYT said Trump has paid 24 million over the last decade in the same article they claim he only paid $750 2 years.
I’ve been seeing allegations that NYT paid no tax in 2017 but I can’t confirm because I’m a tax noob. Their financial statement seems to indicate they didn’t but I’m not sure.
Posted on 9/29/20 at 6:23 pm to Robin Masters
Judging things purely off taxes being paid is insane.
Source: CPA
Source: CPA
Posted on 9/29/20 at 6:23 pm to Robin Masters
quote:
I’ll bet not one if you tax nerds can tell me how much income tax NYT
quote:
Zero...
what do you think you have here?
Posted on 9/29/20 at 6:23 pm to Robin Masters
Come on man!
Posted on 9/29/20 at 6:25 pm to roadGator
quote:
Zero
Actually the correct number.
Companies don't pay INCOME TAX, individuals do.
Companies pay taxes on their earnings
Posted on 9/29/20 at 6:26 pm to Robin Masters
quote:
I’m not sure. That’s why I challenged you guys to tell me. Lol.
Pretty hard to look at a 10k and zero in on a tax liability. That's not how it works. However, you can read the footnote and observe a few things:
(1) In 2017, they likely paid little to no income tax. In fact, they address this and note it's because of stock awards. My guess is the awards were granted when the stock was lower and a sizable batch vested. Also indicative of the low tax liability is the receivable as of 12/31/17.
(2) For 2018 and 2019, the effective tax rate is pretty close to the statutory rate plus a blended state rate if you adjust for out of period adjustments and the activity in their reserve for uncertain tax positions.
There's really nothing juicy there. I guess you could point to their stock comp boon in 2017 but that's not really aggressive or complex tax planning. The fact that they hover at or around statutory for most years tells me there's not a lot of fun and games in their tax structure.
This post was edited on 9/29/20 at 6:28 pm
Posted on 9/29/20 at 6:27 pm to Loserman
What do I win?
Posted on 9/29/20 at 6:27 pm to Loserman
quote:Which for the NYT was .... wait4it .... ZERO!
Companies pay taxes on their earnings
Posted on 9/29/20 at 6:28 pm to Loserman
quote:
Companies don't pay INCOME TAX, individuals do.
They have line items for “income tax expense”.
Posted on 9/29/20 at 6:29 pm to Jorts R Us
quote:Except the fact they are attacking """Corporations""" for doing just what they are, paying no tax.
There's really nothing juicy there
Posted on 9/29/20 at 6:31 pm to NC_Tigah
quote:
Except the fact they are attacking """Corporations""" for doing just what they are, paying no tax.
I meant in terms of aggressive tax planning. I'm well aware of their piece on FedEx which I was critical of back in February when it was published.
You're also referencing a single year, which is easily the murkiest of the 3 because of the TCJA impacts.
This post was edited on 9/29/20 at 6:33 pm
Posted on 9/29/20 at 6:32 pm to Jorts R Us
quote:
Pretty hard to look at a 10k and zero in on a tax liability. That's not how it works. However, you can read the footnote and observe a few things:
I see that tax benefit and tax liability are similar in 2017. Did those offset to give you the zero amount owed?
Posted on 9/29/20 at 6:33 pm to Robin Masters
Goose egg
Posted on 9/29/20 at 6:45 pm to Robin Masters
I don't know but $1.7 billion in revenue is a lot of sorry arse motherfrickers buying newspapers. I try not to send any money to any companies that work out of New York when I can help it.
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