That’s Insane! Part Three:

bribes

Our series of ridiculous tax avoidance tactics continues with corrupt businessman William Zack and his illegal bribes. Mr. Zack ran several companies throughout the years that apparently weren’t making him enough money. In 1984, he began doing business with Ford where he started creating fake invoices in order to take money from his company undetected. This, however, required that he have some Ford employees in on the gig. Zack handed out bribes totaling more than $180,000.

Zack was eventually caught and charged with fraud, but being the “savvy” businessman that he was, Zack petitioned the US Tax Court in order to write off the bribes he paid in order to reduce his now rather large tax bill. The court agreed, seeing the bribes as operating losses. The idea of deducting illegal activities is actual 100% legal in many foreign nations such as Germany – the catch? You just have to report who the bribe was paid to. If you have tax trouble, contact our office at 816-524-4949 or check out our website at Hoorfarlaw.com.

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