Seriously, the IRS lets us do all sorts of things.
In his interview today at the AllThingsD D11 conference, Apple CEO Tim Cook responded to questions from Kara Swisher and Walt Mossberg about Apple taxes. Relating his time with the congressional subcommittee this past week, Cook, said that he felt strongly about how the company was portrayed by lawmakers.
Cook said that he wanted to be a catalyst for a discussion, coming to the hearing with a proposal rather than a defense, one for a revenue-neutral and major overhaul of corporate taxes nationwide.
Cook said that he felt simplicity was good, and how Apple approaches everything. The current tax system, he said, results in a two foot high tax return every year. When asked what he would like to do with it, he replied, “I would suggest we gut it.”
Traveling for business? Don’t forget to pack an expense tracker app.
Traveling for business is a lot different from taking a vacation. While you may get to experience far off cities, meet new people, and have some genuine fun on a business trip, you’ll also need to work, worry about delays that could make you miss critical meetings, ensure you leave your hotel room looking your most presentable, and keep track of every expense related to the trip.
Of those stress factors, tracking expenses so that you can submit them for reimbursement or explain charges you make to a company credit card may not seem the most stressful. The majority of the time it isn’t (unless you lose some big-ticket receipts or have unusual charges to justify). It is, however, often tedious drudgery that is prone to human error and mistakes.
There are many iOS expense tracking apps out there and there are some very good reasons to invest in one of them.
Apple's taxes due and tax rate for 2011 don't match reported numbers
Earlier in this day, we reported on a New York Times piece in which the paper claimed that Apple was using a variety of measure to avoid paying U.S. income tax. It turns out that the Times based key pieces of its information on a study that had been discredited two weeks prior.
The data used by the Times included a report by the Greenlining Institute, which made errors in computing Apple’s supposed tax rate at 9.8% for the 2011. The data used by the report effectively compared Apple’s 2011 profit with taxes paid by the company for profits in 2010 and drew unfounded conclusions as a result.