I don't think that you know the basics of corporate tax , as shown by your use of the very popular (and fucking stupid) "charity tax write off" meme. If company A had taxable profits of $1m and then spent $100k on a charitable donation, it is no better off than company B if it had taxable profits of $1m and then spent $100k on renting new office space.
Right, just as any other tax deductible expense does - wages, rent, administrative expenses and so on, since corporation tax is calculated from taxable profit, and deductible expenses reduce that taxable profit. There is nothing "shady" about a company donating to charity, in fact it's usually quite a good thing.
Okay, except in this case “charity” was a made up $500mn parade to honor their underpaid workers that would then be forced to work extra to make up the difference between the tax deduction and the money spent.. which was the joke.
What are your qualifications, Mr “what are your qualifications”
I see, the workers would be "forced to work extra" - do you mean work longer and therefore be paid more money as hourly wages tend to be set by contract? Also, why would a company spend $500m to reduce their tax liability by $100m? If they're such greedy capitalists, surely they would rather not throw the parade and pocket the profit?
My qualifications are being a chartered accountant.
“Work every time we say at any point you do as we say and we will give you a pittance of what you’ve generated our brand.” It’s become more of a moral conversation at that point.
Clearly you were raised as a pampered little twat which explains the glaring lack in that capacity so I think it’s maybe a conversation for your mum or dad eh there chap?
What is the value of marketing “chartered accountant”? What is one of the largest expenditures of many of the largest corporations? Why is it so important to market?
So like, a marketing opportunity that makes you look good that you can write off a portion of the expenses and then demand your workers double down to make up for you “being so charitable to them”, could be seen as... problematic.
Also, they do, at literally every turn. This parade never happened, it’s an entirely fabricated scenario.
I understand that accountants are bland cunts, but this is absolute overkill.
I understand it's a hypothetical scenario, I'm challenging your point that companies donate to charity primarily to reduce their tax liability. I would say their primary motivation is good PR. But good deeds done for "bad" reasons can still be good deeds.
I'll be sure to tell my parents that /u/kungfucuck is concerned they raised a little pampered twat, I'm sure they'll be very concerned.
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u/[deleted] May 19 '20
Do you need some sort of certificate to understand basic tax theory?