California Travel Tips
Facebook Makes $1.1 Billion – Gets Back $429 Million in Taxes
Published on: February 18, 2013
Why is Mark smiling? Thanks to clever accounting, a company that earns over one billion dollars can actually earn more when it’s tax time — no wonder Facebook isn’t leaving California, even though the state just retroactively raised taxes on the rich! According to Citizens for Tax Justice, Facebook took advantage of tax deductibles on executive stock options which Facebook gave out. It will get nearly half a billion dollars in refunds, and looks forward to another $2.17 billion tax-option tax breaks for use in future years, making their strategy a winner for founder Mark Zuckerberg and the company he created.
Other Facebook news this past week included:
- Stories about parents joining the social network to spy on their kids, which is odd, because parents are the greatest addicts of social media…
- A fan page set up by supporters of Christopher Dorner who led Southern California police on one of the biggest manhunts in local history…
- Complaints by employees fired after sneaky bosses made anonymous requests to be friends on Facebook then fired those who griped and made negative comments about the employer and company. According to legal experts, you are not protected from being fired when you publicly post negative comments about your company and boss. Nothing is private anymore!
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