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bigfan
 Post subject: CPA/ACCT in Da House?
PostPosted: Tue Sep 29, 2015 11:11 am 
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Yahoo about to sell its Alibaba shares and incur a $16 bill Tax burden, they claim is tax free?

Any REAL tax guys have opinions on this one?

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bigfan
PostPosted: Tue Sep 29, 2015 11:15 am 
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The Cliff notes version would be appreciated. The Sini version I can google later if no answer suffices

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Jaw Breaker
PostPosted: Tue Sep 29, 2015 11:18 am 
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Matt Levine is someone I try to follow...here is his take:

http://www.bloombergview.com/articles/2 ... -tax-limbo

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bigfan
PostPosted: Tue Sep 29, 2015 11:21 am 
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So, due to the IRS not approving or disapproving a plan, there is no answer.

Awesome Government work right there. Dont committ to anything, thus you cant get in trouble. I never said YES, I never said NO. Sounds like City Hall.

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badrogue17
PostPosted: Tue Sep 29, 2015 11:23 am 
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Jaw Breaker wrote:
Matt Levine is someone I try to follow...here is his take:

http://www.bloombergview.com/articles/2 ... -tax-limbo

Really.Smart.Guy.

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JORR
PostPosted: Tue Sep 29, 2015 11:29 am 
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I took a single basic accounting class in college and I took one thing with me that I remember to this day. The prof said, "You can do whatever you want on a return, but if it looks like income and counts like income, the IRS considers it income."

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bigfan
PostPosted: Tue Sep 29, 2015 11:33 am 
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Joe Orr Road Rod wrote:
I took a single basic accounting class in college and I took one thing with me that I remember to this day. The prof said, "You can do whatever you want on a return, but if it looks like income and counts like income, the IRS considers it income."


I know the tribune tried to bury its Cub profit in the BS law about leaving 5% of ownership in an entity for X years, then pull it out and pay nothing on the whole thing. I believe thats the basis of that BS scam used by major corps.

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