Replies

RE: Thoughts on Video about indictment.

Basically boils down to the benefits. Should they have been taxable?

RE: Apartment. Sometimes, when a company is doing a lot of business in a city they maintain an apartment, instead of renting hotel rooms, because it’s cheaper-fully deductible.

RE: Children’s education - not sure, but I think that under “flexible benefit plans” it might have been an option. Basically there are “benefit plans” that larger companies set up that reduce the taxable income to the Employee.

If the company doesn’t have an official plan, then it’s a taxable benefit to the employee.

It varies by company, which I’ve always felt was not a “fair” taxation policy, but was lucky that my employers were a large enough company to take advantage of the existing laws.

I’ve never thought that an income tax, should have been made constitutional(I know some people dispute that). I tend to support a sales tax or other revenue measures.

That said, as a CFO, I would never file my taxes without making sure that there was no questionable deductions/exclusions from income.

I do recall Obama’s Sec. of Treasury just shrugging off his tax “errors” - he just answered the questions on the software.