Tag: Taxes

Posted on

News You Can Use: 6/19/2019


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  • Does Amazon Really Pay No Taxes? Here’s the Complicated Answer

    So is Amazon getting a $129 million refund?
    Not necessarily. There are indications Amazon paid little or no federal income taxes for 2018. Its federal net operating loss carryforwards—accumulated losses that offset future taxable income—rose to $627 million at the end of 2018 from $226 million a year earlier, according to securities filings. Its federal tax credit carryforward—accumulated credits that offset future taxes—rose to $1.4 billion from $855 million, largely because of the research-and-development credit.

    Those are signals that Amazon accumulated losses and tax credits faster than it generated income and tax liability. The law lets carryforwards smooth tax payments across business cycles and a company’s lifespan.

    “Because we are in a low-margin industry and invest in innovation and infrastructure, we don’t make as much pretax profit as other tech companies, so our taxes are lower,” Amazon said in a statement.

    https://www.wsj.com/articles/does-amazon-really-pay-no-taxes-heres-the-complicated-answer-11560504602

  • Is It a Good Idea to Be Friends With Your Employees? This Entrepreneur Says Yes
  • Determine if a Hot Dog Is a Sandwich With the Cube Rule
    There are legitimate tax conversations around a variety of different sandwich-like foods, and the entire conversation is insane:

    Things start off reasonably enough—a single starch at the base makes a food “toast,” an additional starch on top makes something a sandwich, and a base plus two parallel walls means you’re dealing with a taco (which means a hot dog is a taco). But then you get to the fourth image, and you realize this chart is trying to classify an enchilada as “sushi.” Things get even crazier (and intentionally contradictory) if you go to cuberule.com, where they list nigiri sushi (a piece of raw fish on top of rice) as “toast.” It’s almost as if this rule wasn’t meant to be helpful.

    Verdict: The cube rule is wack in terms of identifying foods, but it’s a hack in that it identifies the utter futility of trying to fit things into neat little boxes (or cubes). Being technically correct isn’t always useful, and pedantry very rarely wins one any friends. Just as you would never suggest going out for enchiladas to satisfy a sushi craving, you probably wouldn’t suggest hot dogs if someone said they were in the mood for a sandwich. It doesn’t matter if a hot dog is a sandwich; a hot dog is good. And that, I think, is all we need to know.

    https://skillet.lifehacker.com/determine-if-a-hot-dog-is-a-sandwich-with-the-cube-rule-1835581739

Posted on

News You Can Use: 3/13/2019

  • If We’re Going to Break Up Big Tech, We Shouldn’t Forget Big Telecom

    In recent years, telecom giants like Verizon have been repeatedly caught covertly spying on customers and selling your private location data to a long chain of dubious middlemen, often with little oversight. Giant ISPs often help scammers rip off their own customers, earning them the worst customer satisfaction ratings of any business sector in America.

    Telecom presents a unique problem in tech. ISPs like Comcast and AT&T not only enjoy vast media and broadcast empires, but a clear monopoly over access to the internet itself thanks to limited broadband competition.

    This domination of both the conduit and the content creates unique anti-competitive opportunities ISPs are starting to exploit in a variety of sneaky ways. For example, telecom giants convinced the FCC in 2017 to neuter itself at lobbyists’ behest, demolishing numerous widely popular consumer protections like net neutrality along the way.

    https://motherboard.vice.com/en_us/article/vbwjvy/if-were-going-to-break-up-big-tech-we-shouldnt-forget-big-telecom

  • Philadelphia Bans ‘Cashless’ Stores Amid Growing Backlash

    The new law, signed by Mayor Jim Kenney last week, takes effect on July 1 and could lead to fines of up to $2,000 on businesses that do not take cash.

    But many transactions will be exempt, including those at parking lots and garages; businesses that sell goods through a membership model; rentals that require security deposits; online, telephone or mail-in transactions; and goods sold exclusively to employees.

    The bill amends the city’s Fair Practices Ordinance, which is administered by the Philadelphia Commission on Human Relations. Mike Dunn, a spokesman for the city, said on Thursday that the commission would have to set the penalties before the bill takes effect.

    https://www.nytimes.com/2019/03/07/business/cashless-stores-philadelphia.html
    This is the same city that makes it ever more difficult to use cash for public transportation. Philly – if you are making laws like this, you have to eat your own dog food.

  • Taxing the rich
  • Hip offices are part of our mental health crisis, here’s why

    Even with all the mental health days and in-office lounges, many employees still feel an inability to disconnect from the office mindset, which makes them feel overworked and exhausted for prolonged periods. Job-induced anxiety is on the rise as technology blurs the lines between work and home life. The idea of work-life balance has all but disappeared.

    According to a 2015 study put out by NAMI Massachusetts, one can attribute 64 percent of absenteeism from work because of poor mental health. And 81 percent of productivity loss occurs as a result of presenteeism, where people work when they’re sick (and should be resting).

    https://www.fastcompany.com/90313990/why-cool-offices-do-nothing-to-mental-health

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Posted on

News You Can Use: 2/20/2019

  • We Reject the Side Hustle

    Maybe this was all true, but what was also true is that working outside of work quietly became a major drain on my energy levels, negatively impacting my mental, emotional, and even physical health. I also started spending money more stupidly (some might say compulsively) as a response to rising stress, which had the perverse effect of making me feel that I needed that extra cash flow even more. Rather than acting as a financial security blanket, my outside income became a specter that I kept in my life mostly out of fear. When I finally bit the bullet and focused on having just one job at a time, unsurprisingly, all that extra stress and anxiety dissipated almost immediately. I slept more, I took fewer overpriced cabs, I was better at my actual day job.

    https://lifehacker.com/we-reject-the-side-hustle-1832566443

  • We need to stop striving for work-life balance. Here’s why

    Balance is a limiting concept, and if we set the bar too low, we won’t demand enough of ourselves, our leaders, and our companies. Right now, too many companies are still operating in an either/or mentality (though thankfully, it’s starting to change). That’s why there are still workplaces that penalizes parents who choose to take parental leave or assume that employees who don’t put in as much “face time” aren’t committed to their jobs.

    I always like the mantra that “you can have it all, just not all at once.” There are seasons of life where you’ll have less time for yourself and will devote more to school or family or work. This is part of the normal ebb and flow of life. When you think big and expect that you can have a positive experience with all that work and life have to offer, you’ll be more likely to make that happen.

    https://www.fastcompany.com/90308095/why-you-should-stop-trying-to-achieve-work-life-balance

  • Alexa, are you exploiting me?
  • Taxed out: Here’s why your refund may be smaller or nonexistent in 2019

    So far, the average refund paid to taxpayers is down 8.7% to $1,949, from an average of $2,135 this time in filing season last year, according to the IRS.

    Some taxpayers actually do owe more under the new tax law, which capped deductions for state and local taxes, especially affecting homeowners in high-property tax coastal states, and eliminated some deductions, such as those for unreimbursed expenses incurred as an employee.

    https://www.fastcompany.com/90308731/tax-refunds-2019-heres-why-yours-may-be-smaller-or-why-you-may-owe

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Posted on

News You Can Use: 1/23/2019

  • We Are Living in the Begging Economy

    In this new paradigm, workers still have to work, but they don’t get paid at all. Instead, they beg for money on social media. It’s like replying to your viral Tweet with a link to your Soundcloud, only if you don’t go viral you have to ration your insulin (one third of GoFundMe’s campaigns are already for medical costs). This has been the case for many government employees for the entire duration of the shutdown, including the TSA employees who are supposedly there to prevent the next 9/11. It’ll be the case for the thousands more starting soon, so the Interior Department can continue to sell oil and gas drilling leases in the Gulf of Mexico.

    https://motherboard.vice.com/en_us/article/a3m59p/we-are-living-in-the-begging-economy

  • Microsoft pledges $500M to create affordable housing around Seattle

    The money will be used in three ways: $225 million will be loaned at below-market interest rates to developers building units for households making between $62,000 to $124,000 a year; $250 million will be used for market-rate loans to support the construction of affordable housing for people making up to 60 percent of the local median income, or about $48,150 for a two-person household; and the rest of the money, $25 million, will be donated to services for low-income and homeless people. Loans will be made over a period of three years and any profit will be put back in the fund.

    https://techcrunch.com/2019/01/16/microsoft-pledges-500m-to-create-affordable-housing-around-seattle/

  • How tax brackets actually work
  • Sorry I Forgot Your Birthday, I’ve Stopped Checking Facebook

    Michael Haber had been at his cousin Jasmine’s house for nearly two hours—chatting, playing with her children—when she brought out a fluffy chocolate sponge cake with a whipped-cream filling. “What is this for?” asked Mr. Haber, 26, a web designer in Beirut, Lebanon.

    Jasmine explained that it was for her. It was her birthday.

    “It was pretty awkward. But how would I have known?” said Mr. Haber. “I quit Facebook . ”

    https://www.wsj.com/articles/you-quit-facebook-now-you-dont-know-anyones-birthday-11547652709

  • Receipts are secretly really bad–why are we still using them?

    “We started looking into this idea of receipts and whether we should move people towards electronic receipts,” says Phil Ting, a California assembly member from San Francisco. His staff calculated the amount of paper and water wasted to create receipts that often end up in the trash seconds later, and then learned about the health issues that receipts also pose. “As we did more research, we found out the receipts aren’t just printed with regular inkjet ink, which is recyclable. It’s [coated] with BPA which is not recyclable, and actually toxic.”

    https://www.fastcompany.com/90292886/receipts-are-secretly-really-bad-why-are-we-still-using-them

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