» Easy money (PDF link warning)

Facebook made a billion dollars in taxes last year…

…and will get a tax refund of $429 million because executive stock options are tax deductible. The costs of these options are considerably lower for book purposes. So for book purposes it looks like the company’s doing great and then when it comes time to report to the IRS they’re suddenly a charity case. Facebook is not the only company making out like a bandit, but they’re obviously the poster child. I already don’t like Facebook, but it’s the law that needs to be changed.

Or…

Hang on a sec, I gotta go incorporate.

(Via Jim Ray.)