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How Did Amazon Avoid Paying Taxes From Last Year's Success?

During the pandemic year, Amazon’s growth was remarkable. Yet, during 2020, Amazon’s effective tax rate was only 9.4%, a rate that is much lower than the standard 21% corporate tax rate. One of the many tax strategies Amazon uses includes tax credits, depreciation, and many more. If Amazon pays 21% of corporate tax from its profits, its tax payment would have been $4.1 billion, but the Company only paid $1.8 billion, a large tax saving of $2.3 billion! Unlike tax evasion, tax avoidance is legal. If you run a successful business, you would want to make sure that proper tax planning strategies are implemented so that you would avoid giving away your hard-earned money.

If you want to learn more about tax avoidance and how you can save thousands or more in taxes, please do not hesitate to call us at (832) 295-3353. You can also set up an appointment with us at Last but not least, please like and share our daily posts. #taxes #business #tax #taxplanning #taxpreparation #amazon

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