Berkeley CSUA MOTD:Entry 52264
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2025/05/24 [General] UID:1000 Activity:popular
5/24    

2008/12/17-2009/1/2 [Reference/Tax] UID:52264 Activity:nil
12/17   http://www.bloomberg.com/apps/news?pid=20601087&sid=aznONFlyupOI
        "Goldman Sachs Group Inc., which got $10 billion and debt guarantees
        from the U.S. government in October, expects to pay $14 million in
        taxes worldwide for 2008 compared with $6 billion in 2007.
        \_ Goldman Sachs cuts average pay 45 percent!!  ... down to $364K.
           lowest compensation since 2004.  oh the humanity!
2025/05/24 [General] UID:1000 Activity:popular
5/24    

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Cache (1078 bytes)
www.bloomberg.com/apps/news?pid=20601087&sid=aznONFlyupOI
Goldman Sachs, which today reported its first quarterly loss since going public in 1999, lowered its rate with more tax credits as a percentage of earnings and because of "changes in geographic earnings mix," the company said. Robert Willens, president and chief executive officer of tax and accounting advisory firm Robert Willens LLC. "Clearly they have taken steps to ensure that a lot of their income is earned in lower-tax jurisdictions." Lloyd Doggett, a Texas Democrat who serves on the tax-writing House Ways and Means Committee, said steps by Goldman Sachs and other banks shifting income to countries with lower taxes is cause for concern. "This problem is larger than Goldman Sachs," Doggett said. "With the right hand out begging for bailout money, the left is hiding it offshore." David Trone, an analyst at Fox-Pitt Kelton Cochran Caronia Waller, expected the fourth-quarter tax credit to be 28 percent. The tax-rate decline may raise some eyebrows because of the support the US government has provided to Goldman Sachs and other companies this year, Willens said.