Goukosan 2,258 Posted April 19, 2023 Share Posted April 19, 2023 And agreed that the statements made against Dominion were false. Now Fox has another lawsuit to deal with from smartmatic for publishing false news...to the tune of 2.6 billion dollars Dominion also has cases against Sydney Powell, Giuliani and the my pillow guy etc. Link to post Share on other sites
Mr. Impossible 411 Posted April 20, 2023 Share Posted April 20, 2023 It's funny how certain people have no interest in this topic lol. Link to post Share on other sites
Cooke 2,031 Posted April 20, 2023 Share Posted April 20, 2023 (edited) https://www.levernews.com/fox-can-claim-tax-writeoff-for-defamation-settlement/ And the tax payers are paying for it the things big businesses get to do while the little guy gets screwed everytime. Reminds me of when Pfizer was sued for 2.3 billion. They still made massive profits off the drugs that killed thousands and then was able to write off most of the settlement. Edited April 20, 2023 by Cooke Link to post Share on other sites
Goukosan 2,258 Posted April 21, 2023 Author Share Posted April 21, 2023 7 hours ago, Cooke said: https://www.levernews.com/fox-can-claim-tax-writeoff-for-defamation-settlement/ And the tax payers are paying for it the things big businesses get to do while the little guy gets screwed everytime. Reminds me of when Pfizer was sued for 2.3 billion. They still made massive profits off the drugs that killed thousands and then was able to write off most of the settlement. When you don't read your stretch of an article but only read the headline. "If any of Fox’s settlement payment is covered by insurance, Fox could not write off that portion of the payment." If if if if... Link to post Share on other sites
Tears of the Cows 1,212 Posted April 21, 2023 Share Posted April 21, 2023 Fox News are generally, nut jobs. I don’t watch it. Link to post Share on other sites
Cooke 2,031 Posted April 25, 2023 Share Posted April 25, 2023 On 4/20/2023 at 7:10 PM, Goukosan said: When you don't read your stretch of an article but only read the headline. "If any of Fox’s settlement payment is covered by insurance, Fox could not write off that portion of the payment." If if if if... Link to post Share on other sites
Goukosan 2,258 Posted April 25, 2023 Author Share Posted April 25, 2023 (edited) 4 hours ago, Cooke said: The legal fees are a tax write off... As businesses can claim a percentage of that. The actual settlement is not a write off. Fox's revenue for this year will be less by 3/4 billion... So thier taxable revenue will be lower. Edited April 25, 2023 by Goukosan Link to post Share on other sites
Cooke 2,031 Posted April 25, 2023 Share Posted April 25, 2023 56 minutes ago, Goukosan said: The legal fees are a tax write off... As businesses can claim a percentage of that. The actual settlement is not a write off. Fox's revenue for this year will be less by 3/4 billion... So thier taxable revenue will be lower. They will be saving over 200 million on their taxes because of this lawsuit. So ultimately it's closer to 500 million. Still a lot but it's just proof that corporations and rich people can use the tax code in a way regular people can't Link to post Share on other sites
Goukosan 2,258 Posted April 25, 2023 Author Share Posted April 25, 2023 (edited) 1 hour ago, Cooke said: They will be saving over 200 million on their taxes because of this lawsuit. So ultimately it's closer to 500 million. Still a lot but it's just proof that corporations and rich people can use the tax code in a way regular people can't No they won't. They can claim a percentage of the legal cost...unless the legal fees was 2 billion they're not saving over 200 mill just on legal fees. Plus that doesn't matter.. Win or lose you claim a percentage of the legal costs. But... They can't write off the settlement. It counts as negative revenue.... The settlement lowers their revenue by 3/4 of a billion so now their taxable income is lower because they made less money. You're taxed a percentage of your revenue. What people are doing is guesstimating how much their tax bill maybe reduced by because of the pay out but that's not them saving money... That's them making less money because of the lawsuit. Edited April 25, 2023 by Goukosan Link to post Share on other sites
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