| Cult of Mac

Apple downplays asset value in pursuit of tax rebate

By

Apple Park
Apple has beef with the folks calculating its asset value.
Photo: Matthew Roberts/Maverick Imagery

Apple plays down its financial milestones these days, and there’s a good reason for that: tax.

According to a new report, Apple is one of a few companies which are “particularly aggressive” in downplaying the value of the property they own for tax purposes. Specifically, Apple thinks it’s been overtaxed on the buildings, land, lab equipment, and other expenses — and it wants to reclaim millions of dollars as a result.

Apple lists good deeds to avoid Cupertino ‘head tax’

By

Apple Park Close up
Apple has long been based in Cupertino, where Steve Jobs grew up.
Photo: Apple

Apple is the reason why most non-locals know the name Cupertino. Just in case free international advertising wasn’t enough, however, the company just sent a letter to the Cupertino City Council, outlining all the nice things Apple does to benefit its hometown.

Although it doesn’t mention it, the letter conveniently arrives on the eve of a discussion on whether to impose a “head tax” on Apple employees in the area.

Cupertino postpones vote on ‘head tax’ on Apple employees

By

Apple leases new offices near to Apple Park
Cupertino decided to not raise additional taxes this year on employees working at Apple Park.
Photo: Duncan Sinfield

Cupertino’s city government decided to ask voters next year whether it should charge businesses a tax on every worker. Apple is the city’s largest employer, so most of the cost would have fallen on the iPhone maker.

The original plan, while vague, was to use the additional revenue to create more affordable housing options and improve Cupertino’s transit system.

What to expect from Apple’s first earnings call of 2018

By

Earnings call
Apple's Q1 2020 earnings report will probably break some records.
Photo: Jim Merithew/Cult of Mac

The first big Apple earnings report for 2018 is nearly here. And, based on analysts’ expectations, it will likely be Apple’s biggest moneymaking quarter ever.

After weeks of waiting, investors will finally get their first look at how well the iPhone X is selling. Apple’s holiday sales probably hit historic levels. But with recent reports that Apple slashed iPhone X orders in half, there could be quite a few surprises in store.

As usual, Cult of Mac will be here to liveblog all the action as it transpires on Thursday, February 1, at 2 p.m. Pacific. Get ready to watch for these six things during the call:

How Apple’s going to spend its massive fortune, this week on The CultCast

By

CultCast Tim Cook money
Apple's bringing home its massive fortune.
Photo: Business Insider

This week on a very spicy edition of The CultCast: Tim Cook is thrilled with the new U.S. tax overhaul, and has some exciting plans to spend Apple’s massive fortune. Plus: Forget other smart speakers — we’ll tell you why we’re now even more excited for HomePod. And stick around for our favorite movies, shows and sausages in an all-new, very weird “What We’re Into!”

Our thanks to Squarespace for supporting this episode. It’s simple to accept Apple Pay and sell your wares with your very own Squarespace.com website. Enter offer code CultCast at checkout to get 10% off any hosting plan.

Leaked documents reveal Apple’s newest tax haven

By

Apple is made of money.
Apple's tax practices save it billions of dollars.
Photo: Ste Smith/Cult of Mac


Dodging taxes is still one of Apple’s top priorities.

The iPhone-maker has come under serious fire in both the U.S. and internationally for its tax practices, but according to a new batch of leaked documents, the company is still doing everything it can to avoid paying the full amount.

Apple’s new Irish data center gets support from 300+ person rally

By

Ireland
A mock up of Apple's proposed data center in Ireland.
Photo: Apple

Over the weekend, more than 300 people in Ireland staged a rally in support of Apple’s proposed 850 million ($960 million) euro data center in Athenry, County Galway.

The new data center was officially given the go-ahead over two years ago, although construction on it has been delayed by continuing legal issues. If built, the data center will help power Apple Music, the App Store, iMessages, Maps and Siri — while providing plenty of jobs to locals.

Europe sues Ireland over unpaid Apple taxes

By

What’s it like to have your startup bought by Apple? Stressful
The E.C. is continuing its battle with Silicon Valley.
Photo: Ste Smith/Cult of Mac

The European Commission is continuing its battle with Silicon Valley tech giants by taking Ireland to court, demanding that it reclaim a $17.6 billion tax payment it is owed by Apple.

In addition, it is demanding that Amazon pay it 250 million euros ($294 million) on the grounds that is has enjoyed an illegal “sweetheart deal” in Luxembourg.

Tim Cook gets ready to stare down EU over giant tax bill

By

Tim Cook takes home $125 million for Apple’s best year since 2009
The only three things that are for sure: death, taxes, and thinner iPhones.
Photo: Jim Merithew/Cult of Mac

So far, most of Apple’s wrangles concerning its European tax issues has been carried out by the company’s accountants and legal team.

That could change in 2017, however, when none other than Tim Cook has been requested to attend a meeting in Dublin, Ireland, alongside the EU competition commissioner Margrethe Vestager.

Majority of Irish voters want government to oppose Apple’s giant tax bill

By

money
Irish people are backing Apple.
Photo: Ste Smith/Cult of Mac

A new poll suggests a majority of Irish voters support the Irish government in opposing Apple’s enormous $14.52 billion tax bill for unpaid back taxes in the Republic of Ireland.

47 percent of respondents said they agreed the Irish government was right to back Apple, compared to 39 percent who say it’s wrong to do so, and 14 percent who had no opinion on the subject.