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These non-GAAP measures include non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP income tax expense, non-GAAP net income, non-GAAP net income, or earnings, per share, and free cash flow.
ENGADGET: NVIDIA posts Q4 2013 earnings: $1.1 billion in revenue, $174 million in profit
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In all cases the actual expense is lower. (By the way that is total income tax expense all in federal, state and foreign).
FORBES: How Double Taxed Are Investors ?
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You see that income tax expense on the financial statements is not what is on the returns.
FORBES: How Double Taxed Are Investors ?
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In total for the three years about 2 billion of GAAP income tax expense on net is deferred.
FORBES: How Double Taxed Are Investors ?
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Your income tax expense under GAAP is a make-believe computation.
FORBES: How Double Taxed Are Investors ?
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That is your income tax expense under GAAP.
FORBES: How Double Taxed Are Investors ?
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Running for president is legally considered a personal expense, nondeductible under the income tax.
CNN: Why do the Romneys pay so little in taxes?
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When we first read the fairly short section covering the Medicare surtax on unearned income, we found it to be pretty straightforward and assumed all unearned income, loss and expense would be summarized and taxed just like the self-employment tax on earned income is summarized and taxed, now.
FORBES: IRS Should Fix Net Investment Tax Proposed Regulations
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The oft-repeated objection is that tax reform benefits high-income taxpayers at the expense of low-income taxpayers.
FORBES: A Kinder, Gentler Flat Tax
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For the period ended Dec. 30, Wendy's Co. said its net income rose sharply because of a larger tax benefit and lower interest expense.
NPR: Wendy's Stands By Outlook Amid Transformation Push
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On page 84 you can see what the income tax of the company would have been for the last three years if the expense had been 35% reconciled with the actual expense.
FORBES: How Double Taxed Are Investors ?
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Of course, all of these exclusions from income come with a price: since life insurance is considered a personal expense, you cannot deduct the premiums you pay for life insurance policies on your federal income tax return.
FORBES: Taxes From A To Z (2013): L Is For Life Insurance