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A comment on The public has a right to know how companies that pay no taxes pull it off. Parent comment

Re:The public has a right to know how companies that pay no ... by closeparen on Tuesday November 03, 2020 @02:45AM (#24977367)
If it's a real loophole, the government is out of luck; best it can do is remove it next year.

When the money flowing through a corporation actually makes someone rich, it becomes his personal income. It's not clear that corporations paying their own taxes is even a good idea vs. collecting the same revenue through higher marginal tax rates on the beneficial owners.

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Re:The public has a right to know how companies that pay no ... by wolco2 on Tuesday November 03, 2020 @02:55AM (#24977429)
Expensives can be hidden at the corporate level but used personally. The company plane can be used for both personal/business and those are hard to separate.
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Re:The public has a right to know how companies that pay no ... by gnicholas on Tuesday November 03, 2020 @03:03AM (#24977468)
There are actually very detailed rules about how personal use of corporate planes needs to be reported for both tax purposes and shareholder reporting purposes.

Even if a plane is already going from City A to City B for business purposes, if the CEO brings a spouse along for personal reasons, there can be reporting consequences. Of course, this only matters if the company is under sufficient scrutiny to actually report such details.

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Re:The public has a right to know how companies that pay no ... by srtjstjsj on Tuesday November 03, 2020 @08:01AM (#24979218)
Donald Trump deducts all his personal expenses from his businesses because he claims his personal lifestyle is a marketing program for his businesses.
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Re:The public has a right to know how companies that pay no ... by hugh-avherald on Tuesday November 03, 2020 @03:14AM (#24977537)
Tax loopholes can generally be closed retrospectively.
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Re:The public has a right to know how companies that pay no ... by gnicholas on Tuesday November 03, 2020 @03:26AM (#24977607)
At least in the US, there are constitutional issues created by changing tax laws with retroactive effect.
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