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(Score: 1, Interesting) by Anonymous Coward on Wednesday January 24 2018, @10:42PM
by Anonymous Coward
on Wednesday January 24 2018, @10:42PM (#627436)
There are several others which are shared by numerous people here, but surprisingly, Tax Accounting was one of the favorite classes I had ever taken (albeit I did poorly).
Considering the following in-class assignment: "Meet Bob Smith, CEO of a private manufacturing company, revenue of $5m a year. He currently pays himself a salary of $250k a year. List literally every way you can to save him taxes. Now rank each of these ways from 1-Perfectly-Legal to 4-IRS-Glimpses-You-Are-In-Jail."
We came up with everything from 1-Reincorporate in Delaware for passive holding tax, through 4-burn down the inventory storage warehouse and get the insurance money tax free.
(Score: 1, Interesting) by Anonymous Coward on Wednesday January 24 2018, @10:42PM
There are several others which are shared by numerous people here, but surprisingly, Tax Accounting was one of the favorite classes I had ever taken (albeit I did poorly).
Considering the following in-class assignment: "Meet Bob Smith, CEO of a private manufacturing company, revenue of $5m a year. He currently pays himself a salary of $250k a year. List literally every way you can to save him taxes. Now rank each of these ways from 1-Perfectly-Legal to 4-IRS-Glimpses-You-Are-In-Jail."
We came up with everything from 1-Reincorporate in Delaware for passive holding tax, through 4-burn down the inventory storage warehouse and get the insurance money tax free.
Who says tax planning has to be boring?