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Democrats seize on report of FedEx's $0 tax bill to slam Trump's tax plan

SheWolf said:
First of all, you're not reading the article correctly and you need to check the facts. Fed Ex didn't pay anything taxes for the fiscal year ended 2018.

Secondly, tax accountants calculate quarterly estimated payments, and the goal is that the client doesn't owe anything when they file their return. So if that's in fact what happened with Fed Ex, it wouldn't be news.

See below
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The only reason it is news is that OMG they are saying they didn't pay any taxes.
they paid taxes in their quarterly tax payments.

at the end of the year given the new rates along with deductions on capital investments that were made and advance depreciation they had no tax liability at the end of the year.
again stop being dishonest.

The NYT is spreading fake news again. imagine that.
 
ludin said:
The only reason it is news is that OMG they are saying they didn't pay any taxes.
they paid taxes in their quarterly tax payments.

at the end of the year given the new rates along with deductions on capital investments that were made and advance depreciation they had no tax liability at the end of the year.
again stop being dishonest.

The NYT is spreading fake news again. imagine that.
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Oh I see, you're going with the fake news argument because you don't want to believe the reports... ok... have a good day... :lol:
 
MTAtech said:
The 2017 tax cut was a boon to corporations and the wealthy, while nothing promised in the bill came true, namely increased business investment, higher wages and more hiring. Raises and bonuses did happen in 2017 (before the law went into effect) and research showed it was because those bonuses and raises would be able to be deducted in 2017, when the tax-rates were higher, making the company's tax bills lower.
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This is a very good point. When Reagan cut tax rates in half on the wealthy it coincided with the "wage freeze" on their workers. The more the rich get to keep the less they want to pay their employees. Yet another good reason to raise the top rates.

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SheWolf said:
Oh I see, you're going with the fake news argument because you don't want to believe the reports... ok... have a good day... :lol:
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why was this not an issue in the past few years that they didn't pay taxes?
ol yea doesn't create the false narrative.

so i will assume that your not a tax accountant since you don't know how this works.
 
Never believe a rat.

Fed Ex invested billions in capital items eligible for accelerated depreciation and made large contributions to our employee pension plans. These factors have temporarily lowered our federal income tax, which was the law’s intention to help grow [gross domestic product], create jobs and increase wages.

The had a 92% retention rate. A 91% 401k investment rate (with a killer return). Salaries and incomes increase with 2/3s of the increase committed to hourly wage employees. More employees. Secured retirement funds.

And BTW...YOU didnt pay for those things...THEY did. What you are complaining about is not that you gave them money...you didnt...but that the government didnt force them to give more of their money to YOU.
 
JacksinPA said:
Democrats seize on report of FedEx's $0 tax bill to slam Trump's tax plan | TheHill

Democrats are seizing on a report published by The New York Times on Sunday that found FedEx didn’t owe anything in taxes in fiscal year 2018, a year after President Trump signed off on a $1.5 trillion tax cut that sharply reduced tax rates for corporations in the country.

According to The Times, the package signed by Trump in December 2017, which FedEx reportedly lobbied heavily for, spelled good news the following year for the shipping company, which would later see a 34-percent drop in its effective tax rate in fiscal year 2018. Its tax rate was reportedly brought to less than zero at the time.
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And the poor & middle-class picked up the tab, the ones who can least afford to subsidize big corporations & fat cat beneficiaries like the Waltons.
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Your sense of partisan outrage <SARC>over a corporation paying 100% of the taxes that it was legally required to pay</SARC> is duly noted.
 
MTAtech said:
The 2017 tax cut was a boon to corporations and the wealthy, while nothing promised in the bill came true, namely increased business investment, higher wages and more hiring. Raises and bonuses did happen in 2017 (before the law went into effect) and research showed it was because those bonuses and raises would be able to be deducted in 2017, when the tax-rates were higher, making the company's tax bills lower.
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Since you are well aware that there was absolutely nothing IN the bill that "promised" any of "increased business investment", "higher wages", or "more hiring", your initial sentence can only be classified as one thing.

[The above form of "Internet Rebuttal" has been specifically and officially approved and endorsed by "Devoted Online Lovers of Trump" Inc. (a non-partisan, independent, research and analysis organization exempt from federal taxation that is dedicated to bringing you the true truth and not the false truth that anyone who doesn't believe 100% of what Donald Trump says tries to tell you the so-called "facts" are), "Pro-Life United Gun Enthusiasts and Manufacturers for Jesus", and “"The ‘First Amendment Rights Trust’ Foundation”.]
 
apdst said:
Quarterly taxes are madatory. If they waited til the end of the year there would be penalties and interest.
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"Quarterly taxes" are based on the company's ESTIMATE of its current year end profit. If the company does NOT ESTIMATE that it will have an end profit during the current tax year, then it has no "quarterly taxes" to pay.

My instructor in tax law was required to pay his taxes in quarterly instalments and ALWAYS estimated that his current year's taxable income would be $0.00.
 
JacksinPA said:
Democrats seize on report of FedEx's $0 tax bill to slam Trump's tax plan | TheHill

Democrats are seizing on a report published by The New York Times on Sunday that found FedEx didn’t owe anything in taxes in fiscal year 2018, a year after President Trump signed off on a $1.5 trillion tax cut that sharply reduced tax rates for corporations in the country.

According to The Times, the package signed by Trump in December 2017, which FedEx reportedly lobbied heavily for, spelled good news the following year for the shipping company, which would later see a 34-percent drop in its effective tax rate in fiscal year 2018. Its tax rate was reportedly brought to less than zero at the time.
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And the poor & middle-class picked up the tab, the ones who can least afford to subsidize big corporations & fat cat beneficiaries like the Waltons.
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What did FedEx due to lower their Corporate Tax bill to zero?

Any clue? A guess?
 
apdst said:
You need to call whatever online accounting course you took and demand your money back.
Estimated Taxes | Internal Revenue Service
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Did you read as far as the

Corporations generally have to make estimated tax payments if they expect to owe tax of $500 or more when their return is filed.


You may have to pay estimated tax for the current year if your tax was more than zero in the prior year.
(emphasis added)
​

bit?

Do you know the legal and accounting import of the words that I have put in bold face?
 
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