Thetax law enacted under former President Donald Trump, which lowered the statutory tax rate from 35 percent to 21 percent, has been in effect for four years, and Netflix has reported current federal corporate income tax rates of either 1 percent or nothing in each of those years. This outcome will be very unlikely for Netflix to replicate in the future if Congress enacts the minimum corporate tax provision included in the Build Back Better Act passed by the House of Representatives in November.
These diverse tax breaks have one thing in common: they are each perfectly legal. The most obvious legislative response to this would be to repeal corporate tax breaks that do not benefit society enough to justify their costs. The corporate minimum tax provision in the Build Back Better Act passed by the House in November takes an indirect approach but would still raise hundreds of billions of dollars by blocking significant tax avoidance. It would require the largest corporations to pay 15 percent of the profits they report to potential investors if that is more than they would pay under the normal tax rules.
Under current rules, corporations use various tax breaks to report little or no income to the IRS even as they report hefty profits in their financial statements that they make public to inform shareholders and potential investors. Corporations might try to avoid the minimum tax by manipulating their financial statements, but this would mean they are reporting lower profits to potential investors, something they have strong incentives to avoid.
If some form of this minimum tax had been in effect for 2021, Netflix would almost certainly have paid a higher tax rate than 1 percent. A recent report from the office of Senator Elizabeth Warren estimates that Netflix would likely see its federal income tax bill boosted substantially under the minimum tax.
Quicken help was no good on this subject. I tried Netflix and they thought Quicken was a streaming app??? Anyway, I want to put ALL my bills in ebiller no matter that I pay myself or they are auto deducted as I need to make a budget. I am new to Quicken for Mac so I assume I have to put in all my bills thru E-billing so I can set up budget - or maybe not? If I can never get these to sync after I try each company to see if anyone even knows what Quicken is maybe I should set them up all as Manual and put in the amount as they are all the same amount every month? If anyone has any ideas on what to do, greatly appreciated.
In order to use E billing you need to either be paying for a Premier subscription to use Quicken's bill pay service, or your bank has to support Direct Connect with Bill Pay (which few banks do). Without E billing, you can still set up scheduled payments on the Bills & Income tab but you'll have to manage them yourself.
So, for creating a budget in Quicken Mac, you have to enter your projected income and expenses in the categories you want to track in your budget. then the budget will compare your projections against actual income and expenses as the year goes along. This gets easier in future years, because you can tell Quicken to create next year's budget as either a copy of the current year's budget or using the current year's actual as next year's budget numbers, and then tweak things however you want.
It takes some time to create a budget initially, but don't let it overwhelm you. You may want to start with the categories that account for most of your income and expenses and ignore, at least for the start, categories which have a small impact. It also depends on what you want together from your budget. For instance are you interested in the bottom line of all income and expenses? Then you need to budget and track all income and expenses. But some people budget for only what they consider their discretionary spending, to make sure they're staying in line in those categories, without building a complete budget for everything.
Wow @jacobs I'm now even more overwhelmed, but in a good way. I am wondering if I bit off more than I can chew with Quicken. I need to create a monthly (actually bi-weekly) budget. I put all the bills I could in Bills and Income. I was only trying to connect them with the bank or biller just to get the new amount to auto enter. Every month a credit card will be a different amount for instance so for budgeting I thought that would be wise. Now all the four who won't connect are the same amount monthly thankfully. I saw where I can mark "paid". I also daily auto update everything to sync that is. I am used to Mint, then again very loosely with budgeting. I created a spreadsheet as I have to see what has to be paid on one paycheck and then what the next paycheck (or what I can stretch). I guess I can enter those four that won't sync as Manual as I did my exterminator, etc. and then at least all are in the Billing and Income section. Now will have to read up about how to do a budget - ugh! I tried finding easy to follow videos on YouTube but they are all for Windows. Do you know where to find videos of all this stuff on a Mac?
@Jon thanks - I maybe misspoke in that I wanted EBiller not to send bills or anything, I do that myself except on a few I am forced to set on auto pay. I don't like auto pay generally. I thought again that I had to put them all in Bills & Income and connect to the institutions so they'd all pull up the most recent bills so that could help in the budgeting process. Who knows about budgeting I feel overwhelmed. I can just add those four that won't sync as manual anyway as 3 are auto pay and amounts don't change and Spectrum is same monthly, but not autopay. Thanks.
I just did a little searching and found this short video from Quicken Support. It's showing a version of Quicken Mac that's a few years old, but the budget features have barely changed since this version, so the video is accurate. It's a good start on how to construct a budget in Quicken Mac:
As the guy on the video says, it looks a little daunting when you create and click on Edit in a budget. So it may help to click categories and eliminate those you don't use, or any you don't need to include in your budget. Then start building your budget. Pick the first expense category. Decide if there's a fixed amount you want to budget every month, or an amount every quarter, or once a year. If you have any reports from Mint of your actual spending last year, use those as a basis for your budget for this year. When you click in a cell for January and type a value, a pop-up menu appears which lets you do things like copy that amount to all 12 months, or at various intervals. For instance, if you know you want to budget $50 a week for groceries, type 50 and then select to Fill Forward with the "50 per week" option, and Quicken will calculate that that's 216.67 per month, and fill that in every month. Once you play around with it a little, I think you'll see it's pretty easy to set up a budget. The hard part, of course, is figuring out what your budget should be! After you fill out all your income and expenses, you may discover your budget shows you're spending too much, so you can go back to the drawing board and find categories to reduce your budget until you get it where you want it.
@Jacob thank you SO much for your incredible details to help this newbie along! I've taught myself every software I've ever learned from the beginning of computers until now, so I am not going to let Quicken get the best of me. You obviously are well versed in all of this and the best is reading instructions and watching videos instead of my usual just jump in and try to figure it out! Thanks again!!!
The streaming company reported its latest earnings on Thursday (April 18), with Wall Street keeping a close eye on expected revenue and subscriber growth resulting from its recent password-sharing crackdown.
But no one expected the dramatic results it delivered: Netflix ended the first quarter with 269.6 million paying customers globally for an audience of more than a half billion people. Operating income, from subscriber fees as well as its burgeoning ad business, spiked 54%.
According to CEO Greg Peters, the decision reflects a shift in focus from solely measuring membership growth to a broader emphasis on revenue, operating margin and engagement as primary financial metrics.
Net Income is the total amount of profit earned by a company. This metric boils down to the overall profit that is left from the revenue that a company receives after taking out various operational line items like cost of goods sold, income tax expense, SG&A expense, etc. Eventually, all companies would want to have a consistent positive and growing net income, so that this can be used for various purposes like reinvesting into the company, paying off debt, and potentially paying out dividends to shareholders.
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At present, pay for prescription models are insufficient at containing costs and improving access to medicines. Subscription financing through tenders, licensing fees and unrestricted or fixed volumes can benefit stakeholders across the supply chain. Pharmaceutical manufacturers can reduce the need for marketing expenses and gain certainty in revenue. This will decrease costs, improve predictability in budget expenditure for payers and remove price as a barrier of access from patients. Inherently, low- and middle-income countries lack the purchasing power to leverage price discounts through typical price arrangements. These markets can realise substantial savings for branded and generic medicines through subscription financing. Procuring of on-patent and off-patent drugs requires separate analysis for competition effects, the length of contract and encouraging innovation in the medicine pipeline. Prices of competitive on-patent medicines and orphan drugs can be reduced through increased competition and volume. Furthermore, pooling expertise and resources through joint procurement has the potential for greater savings. Incentivising research and development within the pharmaceutical industry is essential for sustaining a competitive market, preventing monopolies and improving access to expensive treatments. However, technical capacity, forecasting demand and the quality of generic medicines present limitations which necessitate government support and international partnerships. Ultimately, improving access requires progressive financing mechanisms with patients and cost containment in mind.
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