[JimRed]

In businesses, income can refer to a company’s remaining revenues after all expenses and taxes have been paid.

I have no objection to writing off the legitimate costs of doing business and taxing net income. A company car and a weekend hideout for the CEO are NOT legitimate business expenses, for example.

[thackney]

And who get’s to decide “legitimate”?

If a company decides a jet makes them more responsive to the market, who gets to deny it?