Taxes

Cash-starved Italy claims Apple owes them €1 billion in taxes, Apple says figgetaboudit

Italian authorities are claiming that Apple owes them money - namely €1 billion in taxes - and they want to collect. Apple, of course, says no way. Manuela D'Alessandro, writing for Reuters:

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Apple already pays $1 out of every $40 tax dollars the U.S. collects. How much more does the Senate want?

Ahead of the testimony it will be giving before the U.S. Senate tomorrow, Apple (via The Loop) offered up a nicely detailed 17-page PDF document with all sorts of good information inside. The most interesting number is this: Apple pays $1 out of every $40 of income tax collected by the US Treasury. Isn’t it incredible to think that one company is responsible for 2.5% of all US income tax collection?

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Apple vs the U.S. Congress: Can Apple convince Congress to fix cash repatriation tax laws?

It’s quite popular for people reporting on Apple’s financial position to quote the absurdly high level of cash the company holds on its balance sheet. At the end of last quarter the $145 billion is more than a rainy day fund, which is why the board of directors approved a massive stock buyback and dividend hike. Of course Apple won’t be using much of its cash to do this. Instead, it raised debt. Why? Because so much of the cash -- about $102 billion -- is not on US soil. Instead this money is held in other countries.

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Kashoo shows off simple online accounting at Macworld|iWorld 2013

I'd put off procrastinating if I could, never mind far more onerous tasks like expenses, taxes, and... oh, never mind, I'll finish explaining it later. Where was I? Oh, yeah, Kashoo. A simple, online accounting service, Kashoo aims to take "out of sight, out of mind" and make it so quick, so easy, it's faster just to get it done than put it off.

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Apple avoids billions in corporate taxes, states all their practices are legal and ethical

Each year Apple -- an many, many other tech companies -- manages to avoid billions in corporate taxes around the world and across the U.S. They do this by setting up offices and funneling money to tax-friendly places like Ireland and Reno, Nevada. Even though Apple's corporate headquarters is in Cupertino, California, having offices to collect profits and invest money in countries and state with little or no corporate tax, they legally hang on to vast amounts of profit each year.

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TurboTax 2011 comes to iPad

No one likes doing their taxes, but TurboTax is here to make the daunting chore a little easier. With TurboTax 2011 for iPad, you can files your federal and stated tax returns and receive your refund in as little as 7 days. If you used TurboTax online, iPad or Desktop, you can transfer all your info, speeding up the process.

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