4 ms·

Is this fine tax deductible? What, then, is even the point?

• kolbe 10y ago
  Getting to write articles like this to make prosecutors look good, and for people feel like big bad Goldman Sachs is getting hurt. Here's another thing to grind your gears: much of the fine will be paid in "consumer relief," which so far has meant a tax writeoff upfront, then negligible consumer relief.
• IkmoIkmo 10y ago
  No, it's not tax deductible. Even if it is tax deductible, 'all' you're getting is a tax shield of your tax rate, if it's 30%, you still pay 70% of the fine. That's still about 50% of their annual net profit. It's nowhere near enough to me, but to say a 30% discount on a fine makes the fine pointless is exaggerated. Either way though, no it's not tax deductible.