Re:Biggest companies pay the least tax, shows new research
by WalterBright on Sunday April 05, 2020 @04:16PM
(#22788320)
Ok, name one such company, read its Annual Report, and present your evidence.
> depreciation
Depreciation allowances are based on what was paid for the item, not its value. If it is sold for more than was paid for it, the difference is taxable income.
Value not realized is also not taxable income.
I took a class in basic business accounting one summer. It was time well invested. I recommend it. (Though that doesn't make me a qualified accountant, I still use a CPA for the company books and rely on his advice. I pay no attention to what journalists say about accounting, they know as much about it as about Quantum Mechanics.)
> depreciation
Depreciation allowances are based on what was paid for the item, not its value. If it is sold for more than was paid for it, the difference is taxable income.
Value not realized is also not taxable income.
I took a class in basic business accounting one summer. It was time well invested. I recommend it. (Though that doesn't make me a qualified accountant, I still use a CPA for the company books and rely on his advice. I pay no attention to what journalists say about accounting, they know as much about it as about Quantum Mechanics.)