Is Corporate America Getting Away With Too Little Tax?
It’s an argument that’s all too common in the business world: big multi-national companies don’t pay their fair share of taxes. A new study will only serve to add more fuel to the fire, as according to its findings, seven of the 30 biggest companies in the United States reportedly paid more to their CEOs in 2013 than they did in taxes.
The Companies
The seven companies who showed up on the list included Ford, Verizon, Boeing, General Motors, Citigroup, Chevron and JPMorgan Chase & Co. According to the study, which was conducted by the Institute for Policy Studies and the Center for Effective Government, the average CEO salary for each of these seven companies was $17.3 million.
The Other Side of the Story
However, not all of these companies agree with the numbers. For its part Verizon refutes the claim that it paid more to its CEO than it did in income taxes. The company issued a statement claiming that its total income tax bill in 2013 was $422 million. The company did not disclose a breakdown between state and federal amounts, but it did state that its CEO made much less than what it paid in federal income tax.
More Debate
All of the companies, except JPMorgan Chase, have had some kind of response to the study, and each of the companies have stressed that they abide by all tax laws and regulations, both here and abroad.
Investing with Style
Investing with Style How do you define your approach to investing? There may be many answers to that question. One answer goes to the style of investing that you choose: value or growth. Are you looking for value? The goal of a value investor is to seek out “bargains,” finding those companies whose stock may…
Introducing the “Total Return” Trust
Introducing the “Total Return” Trust The fundamental purpose of most trusts is to create a plan of financial protection for more than one beneficiary, often beneficiaries in different generations. “All the trust income to my surviving spouse, with the balance to be divided among our children at her death” might be used in a marital…
Making Tax-wise Investments
Making Tax-wise Investments Tax considerations are not, and should never be, the be-all and end-all of investment decisions. The choice of assets in which to invest, and the way in which you apportion your portfolio among them, almost certainly will prove to be far more important to your ultimate results than the tax rate that…
Reducing Risk With a Diversified Portfolio
Reducing Risk With a Diversified Portfolio Have you been worried about the stock market’s recent volatility? You’re not alone. The stock market in March was a roller-coaster ride that served as a reminder to investors that the market’s ups and downs can be a little dizzying. But a volatile market should not leave you feeling…