Large corporations like Wells Fargo and General Electric pay no taxes. This is accomplished with teams of experts who know how to exploit the exceptions and loopholes in the U.S. tax code (many of them used to work for the IRS and the Treasury). Among the loopholes: Multinational companies don’t have to pay U.S. income taxes on overseas profits until they are transferred back. Companies just leave their profits in overseas tax havens. Corporations can write off punitive damages as a business expense. Exxon’s $1.1 billion Alaska oil spill settlement actually cost the company $524 million after taxes. NASCAR racetrack owners can deduct the depreciation of their tracks over a seven-year period instead of the 39-year government estimate. This break was put in place in 2004, but renewed in the bailout in 2008.
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Use this fact sheet to explain 3 key differences between Life Insurance and Roth IRAs to your clients.
Tools to help you survive in the post-DOL rule world.
The Perfect First Appointment from a $30 Million Producer
Jul 19, 2017
The first compliance deadline for the DOL’s fiduciary rule has kicked in … are you in compliance?
Jun 29, 2017
Join this complimentary webcast to dive into the imperative demand benefits professionals, employers, and HR representatives must meet when it comes to customizing benefits packages,...
Jun 28, 2017
Clients want to discuss health care costs in retirement. We can help break down options and costs so your clients can better prepare.