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Yeah I've never thought that that was the win that people seem to think it is. When you're that high up in the company, you have so much stock that you can pre
by tombert 5mo ago
Yeah I've never thought that that was the win that people seem to think it is. When you're that high up in the company, you have so much stock that you can pretty easily get loans against for however much you need, and write off the interest in the process.
- rtkwe 5mo agoThey have to trot it out because otherwise there's not much else to pimp about Cohen as CEO and this attempted deal seems much more oriented to juice the total market value of GME to more easily meet the criteria for his recent pay package rather than a great idea for either company on it's own.
- valleyer 5mo agoWhat U.S. tax code provision allows an individual to write off (non-primary-mortgage) loan interest?
- tombert 5mo agoCan't you write off capital losses? I've been able to deduct margin interest from my capital gains.
- valleyer 5mo agoMargin interest is tax-deductible, but only when you're using the loan to buy more securities. So, in context, a CEO who "works for no salary" and just takes out loans secured by their stock holdings to fund their lifestyle does not get to write off that interest. Not to say the "no salary" thing isn't silly anyway, of course.