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So they took a big chargeoff on an old mistake so they didn't have to pay taxes on a great quarter? That's what it looks like to me, anyway.
by tsotha 14y ago
So they took a big chargeoff on an old mistake so they didn't have to pay taxes on a great quarter? That's what it looks like to me, anyway.
- tomkarlo 14y agoGAAP earnings are not necessarily the same as earnings for taxes. IANA tax lawyer, but I don't think you get a tax break on the write down unless you shut down the acquired business entirely. Otherwise it would be too easy to game your taxes simply by declaring these kinds of goodwill write downs.