Re:The Perks Are Great, Just Don’t Ask What We Do
by reitanqild on Tuesday May 31, 2016 @12:36PM
(#11807568)
From my very minimal accounting course I remember my teacher, who was serving as part of the tax appeals board at the time, telling us that we were allowed to use any opening in the law to save tax but we were not allowed to lie.
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Re:The Perks Are Great, Just Don’t Ask What We Do
by Phlarp on Tuesday May 31, 2016 @12:51PM
(#11807735)
The intent of my comment was to draw attention to the other side of this coin.
>You are allowed to use any opening in the law to save on taxes, but not lie.
The other side of that is:
If you (as a C(ETF)O of a company) do not use every opening in the law to save on taxes you may be violating a fiduciary duty to your shareholders.
Re:The Perks Are Great, Just Don’t Ask What We Do
by cmdrfred on Tuesday May 31, 2016 @01:42PM
(#11808359)
Oddly enough nobody is concerned with fiduciary duty when a CEO pulls a few million dollar bonus out of a failing company.
Re:The Perks Are Great, Just Don’t Ask What We Do
by PeterisP on Tuesday May 31, 2016 @03:15PM
(#11809264)
The shareholders and board very much are, although for a failing company often they will set up a CEO with the explicit goal to wind down the company my milking it to death (which often takes many months or years, and starts long before employees would be notified about the plan) and offer multimillion bonuses conditional on extracting dozens more millions for shareholders from a dead horse by riding it in sunset until all that's left is debt to "someone else".