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I wonder if they write off fines as expenses and still turn a profit.
by rambojazz 6y ago
I wonder if they write off fines as expenses and still turn a profit.
- skybrian 6y agoThey are expenses, but companies do try to avoid paying for stuff they don't have to. Legal risks are a thing, and some manager somewhere is going to get backup from legal when they argue against doing this, using this story as an example.
- Someone1234 6y agoThey will. All fines are deductible except IRS ones[0]. It has nothing to do with them turning a profit either way though. They still have to pay the fine even if it isn't counted towards their taxable profits. [0] https://www.investopedia.com/ask/answers/102915/are-irs-penalties-tax-deductible.asp https://www.investopedia.com/ask/answers/102915/are-irs-pena...
- kohtatsu 6y agoGP is wondering if it will be financially worthwhile despite the (non-taxable) fines.
- dfxm12 6y agoYeah, what would the penalty have to be to get companies to stop doing this?