It hasn’t drawn much attention, but Facebook’s first annual earnings report contains an accounting gem: a multibillion-dollar tax deduction for the cost of executive stock options and share awards.
Even though Facebook (FB) reported $1.1 billion in pre-tax profits from U.S. operations in 2012, it will probably pay zero federal and state taxes—and even receive a federal tax refund of about $429 million—according to a Feb. 14 statement from Citizens for Tax Justice. More here:
Meanwhile, how's YOUR paycheck doing? Did you notice a little decrease in your check as Obama says "we all must sacrifice."
Yes, you know how HE'S sacrificing? That's right, a little golf outing with Tiger Woods. But he MEANS well ... he only wants the best for us ... and all he needs is a little bit more of our money and liberty to spread around to his buddies bring us to Utopia.
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