Is Corporate America Getting Away With Too Little Tax?

Money,,Financial,,Business,Growth,Concept,,Miniature,Figures,Businessmen,Stand,On

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.

Posted in ,

Is Trump’s Tax Avoidance a Crime?

Is Trump’s tax avoidance a crime?  Every Presidential candidate since 1976 has released their tax returns to the public, everyone except for Donald Trump.  The New York Times was able to obtain years of Trump’s tax returns, and on September 27th, 2020, launched the following headline across the web: LONG-CONCEALED RECORDS SHOW TRUMP’S CHRONIC LOSSES…

Bodyguards and Panic Rooms- Is Now the Right Time?

Bodyguards and Panic Rooms- Is Now the Right Time?

Executive Protection, i.e. Bodyguards and Panic Rooms Now may be the right time for bodyguards and panic rooms. Looking several years back, I met an interesting individual during a family office networking event. Based on the crowd in attendance, I expected him to be a successful entrepreneur, but as it turns out he was a…

family office

Can DAFs Maximize Family Office Charitable Dollars?

Can DAFs Maximize Family Office Charitable Dollars? When you hear the name John D. Rockefeller, an image of the first, made in the USA, billionaire may come to mind.  Brilliant and extraordinary, yes, but we’re going to discuss his son and only heir to the immense Rockefeller fortune.  John D. Rockefeller Jr. who spent much…

Radical New Plane to Revolutionize Private Flight

Is there a radical new plane to revolutionize private flight?  Can the aviation industry experience the same tech driven disruption so common in other markets?  This past month, an odd-looking aircraft was spotted flying in Southern California. It was small with thin wings, bullet like in shape and had a rear facing propeller on the…