Tax Guru – Ker$tetter Letter

Helping real people win the tax game.

  • Enter your email address to subscribe to this blog and receive notifications of new posts by email.

    Join 628 other followers

  • Blog Stats

    • 240,915 hits
  • Posts By Day

    August 2014
    M T W T F S S
    « Jul   Sep »
     123
    45678910
    11121314151617
    18192021222324
    25262728293031
  • Subscribe

  • Special Pages

Public Shaming Is Working

Posted by taxguru on August 6, 2014

The campaign by the BHO Regime and its MSM allies to shame companies into avoiding tax savings strategies, such as shifting income to lower tax countries, seems to be working.  Walgreens just announced it will keep its corp HQ in the USA rather than move it to an overseas country with much lower tax rates.  According to this news story, the potential negative publicity over this tax savings strategy was a key factor in the decision.

Walgreen Co. reveals details on new ‘Walgreens Boots Alliance’

We can expect more of this kind of pressure to be exerted on companies and persons who use legal tax savings techniques.  They will be labeled as “evil” and “unpatriotic” for having the gall to want to hold onto more of their hard earned income.  

By no means am I advising against using tax savings strategies.  However it would also be wise to not broadcast it to the world.  Those who can’t or won’t use those ideas themselves will just resent you and possibly influence their elected representatives to reduce or eliminate them.  That is how we lost the deduction for 50% of business meals and the depreciation on expensive cars.  People who were taking those deductions bragged so much about them that the resentment worked its way to DC.  If you are using great tax savings tactics, keep it between yourself, the IRS and your professional tax advisor.

 

Sorry, the comment form is closed at this time.

 
%d bloggers like this: