Taxes - McGraw-Hill Introduction to Business

Beware of Phony IRS Calls This Tax Season

January 30, 2018

Yesterday, the filing period officially opened for the 2018 tax season, an annual event that many Americans dread. Along with the standard pain that comes with writing checks to Uncle Sam, people also get stressed by worrying whether or not they calculated their tax bill correctly. Matters can become even worse for these anxious earners if they receive a phone call from the Internal Revenue Service regarding back taxes they never knew about.

But while these calls are certainly intimidating, Continue reading →

Security, Crime, Taxes, IRS, Ethics, Regulation

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 17: Accounting, Bonus Chapter A: Business Law, Bonus Chapter D: Personal Finance

Portland Institutes Tax on Companies with High CEO Salaries

December 15, 2016

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In 2010 the median salary for the 200 highest-earning executives in the U.S. topped out at nearly $10 million. Just five years later, though, that number doubled to almost $20 million. Meanwhile, researchers at the Economic Policy Institute found that CEOs in 2013 earned more than 300 times the salary of average workers. For comparison, in 1965 chief executives brought in just 20 times more pay than their average employees.

To combat this increasing inequality, last week government administrators in Continue reading →

Management, Taxes, Motivation, Leadership, Ethics, Portland, Compensation, Executive Compensation, Regulation

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 7: Management & Leadership, Chapter 10: Motivation, Bonus Chapter A: Business Law

[VIDEO] Does the U.S. Have the Highest Corporate Tax Rate?

July 29, 2016

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While the U.S. corporate tax rate looks tough on paper, this brief video demonstrates how large companies can use legal loopholes to drastically decrease what they owe to Uncle Sam.

Questions:

1. Should companies be able to exploit legal loopholes to lower their tax rate?

2. Would corporations be more likely to leave the U.S. if the government enforced stricter corporate tax standards?

Ethics, Regulation, Taxes, Corporate Tax Rate, Loopholes

Chapter 4: Ethics and Social Responsibility, Chapter 17: Accounting, Videos

Cupertino Mayor Demands Apple Pay More Taxes

May 10, 2016

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A few weeks ago, a team of investigative journalists detailed the tax-avoiding habits of numerous rich individuals and organizations in a massive data dump called the Panama Papers. The release of these documents inspired debates in the media about corporate tax avoidance and whether the government should put stronger regulations in place to prevent it. While some politicians tried to avoid these arguments, at least one has thrown himself into the fray as a strong advocate for closing tax Continue reading →

Tax Avoidance, Cupertino, Ethics, City Services, Silicon Valley, Taxes, California, Apple

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Bonus Chapter A: Business Law, Bonus Chapter B: Technology and New Media

Tax Dodging Corporations Cost the U.S. Billions

August 1, 2014

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For decades big companies have done their best to avoid hefty corporate tax rates levied by Uncle Sam. The U.S. government collects 35 percent of a domestically based corporation’s income, a figure based on the entirety of the company’s worldwide revenue. This mighty bite from the bottom line leads many firms to reincorporate their companies in places like the Cayman Islands or Ireland, where the corporate tax rate is just 12.5 percent. While this process of “inversion” is entirely legal, Continue reading →

Cayman Islands, Global, Ethics, Regulation, Taxes, Ireland

Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 17: Accounting, Bonus Chapter A: Business Law