Tag Archives: Taxes

Consultant’s gripe: Why is the US tax code 9,000 pages?

April 15 is tax day in the United States for individuals. There are other tax days (e.g., March 15 for corporations), but yesterday was the day most people know – and loathe. People take off work, look for receipts, download bank statements, and answer questions from self-service software like TurboTax. “The hardest thing in the world to… Read More »

Accounting 101: What is depreciation?

In my mind, depreciation has two meanings – the common sense definition most people know intuitively, and the financial accounting definition which dictates how costs of fixed assets are spread out over many years. Note – if you are CPA, feel free to call me out on things I describe incorrectly. All feedback welcome. 1) Common sense… Read More »

Amazon margins and online sales tax

Amazon reported Q4 earnings on Tuesday. Q4 revenues soared to $21 billion, up 22% Y-o-Y. Net income was a dramatically different story at $97 million. Looking at the net margin, it comes out to about 0.5%.  It reminds you of the imaginary quote “Don’t worry about the profits, we will make it up on volume.”… Read More »

Consultant’s View on Romney’s Comment: 47% of Americans Don’t Pay Income Tax

Taxes are a universal complaint regardless of where you live. It is the stuff of bar conversations, news reports and Presidential debates. It is mentioned in the bible and let’s not forget that one of the twelve disciples was a tax collector (Matthew).  Okay, Mitt Romney, here we go. . . Is it true 47%… Read More »