FedEx, Taxes, and Paying for Infrastructure

#33
#33
And the $500,000 luxury boxes and $100,000 golf club memberships are also perks needed to secure the best talent. I don't totally buy that, and I certainly don't like it, but I get it.........just like with taxes. The consumer ends up funding spending they don't agree with that goes to people they feel shouldn't be getting the help.
Those luxury boxes are far more about rewarding employees and client perks. My wife's company has one. I have never seen a C-Suite member in it.
 
#35
#35
I haven't seen ads, but I'm sure whatever was/wasn't paid is all legal and based off TCJA and Cares Act.

Yes, FedEx does generate a large GAAP profit each year. For IRS purposes, FedEx takes advantage of bonus depreciation and various tax credits (i.e. locating in distressed areas, hiring disadvantaged employees, and R&D) to lower it's current year tax bill. The depreciation is a "timing" item since it will reverse in future years. Per FedEx's 10K, they have nearly 5 billion in a deferred tax liability assocated with differences between GAAP depreciation and IRS depreciation that they will have to pay back in future years.

The ironic aspect is Obama extended 50% bonus depreciation several times during his Presidency and Biden has voted for many of the tax credits as a Senator that FedEx is claiming on their returns.
 
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#38
#38
#44
#44
You don't. You took deductions for your kids that i didn't get. How is that fair? Your are more of a strain on the infrastructure than my wife and I yet you paid less. Explain your definition of fair again.
I never defined it the first time.
But I think tax deductions for kids are completely fair.
After all, they are the future producers.
View it as a deduction for the present costs of providing for the future.
 
#45
#45
I never defined it the first time.
But I think tax deductions for kids are completely fair.
After all, they are the future producers.
View it as a deduction for the present costs of providing for the future.
Nobody is shocked that you can rationalize taking someone else’s money to suit your own needs
 
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#46
#46
Applying your usual logic the only proper response is to ban luxury suites and raise taxes.

the answer is always “ban ______ and raise taxes”
No it's not.
I'm just pointing out the idiocy of corporate love combined with government hate. They are far more similar than dissimilar in many ways..
 
#48
#48
No it's not.
I'm just pointing out the idiocy of corporate love combined with government hate. They are far more similar than dissimilar in many ways..
Yes it is. All costs of a company are paid by their customers. If part of those costs are a luxury box for client or employee entertainment that’s up to them and if they are public their stock holders. You aren’t going to affect their choice of having that box by raising taxes nor are you going to get the money for paying for that box as taxes instead.

As usual your example is stupid and not applicable.
 
#49
#49
Just to throw this out there, corporations do not get to deduct most of the cost of a luxury box on their taxes and as a result of the 2017 reform corporations won't get to deduct most of the "golden parachutes" going forward...
 
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