Uncategorized Facebook CEO Joined $1 Salary Club to Reduce Tax Bite Leer el artÃculo Abrir el cajón compartido Escrito por TurboTaxLisa Modificado Ago 23, 2019 1 minutos de lectura Facebook Who said the rich and famous don’t need to worry about their tax bill? Facebook CEO, Mark Zuckerberg, joined the CEO $1 salary club in 2013 to take the bite out of his tax bill. Typically CEOs have been known to lower their salaries to $1 after their company’s stock takes off and Mark Zuckerberg was no different. Since he knew his stock options would be heavily taxed, Zuckerberg limited his Facebook salary to $1, however his reduction in salary didn’t help him eliminate his tax bill too much since he racked up a 3.3 billion gain last year by exercising his stock options in Facebook. But what does that mean for his taxes? Since the IRS may view stock options as ordinary income if they are held for less than one year, Zuckerberg will be taxed at the top federal tax rate of 39.6% and his tax liability is estimated at $2.3 billion. Zuckerberg being the man with the plan is covering his tax bill by selling 41.4 million of his Facebook shares worth 2.3 billion and making a substantial charitable deduction. Publicación anterior IRS Announces Immediate Tax Benefits for Contributions to Philippines Typhoon… Siguente publicación IRS is Officially Open for the 2014 Tax Season Today! Escrito por Lisa Greene-Lewis Lisa has over 20 years of experience in tax preparation. Her success is attributed to being able to interpret tax laws and help clients better understand them. She has held positions as a public auditor, controller, and operations manager. Lisa has appeared on the Steve Harvey Show, the Ellen Show, and major news broadcast to break down tax laws and help taxpayers understand what tax laws mean to them. For Lisa, getting timely and accurate information out to taxpayers to help them keep more of their money is paramount. Más de Lisa Greene-Lewis SÃguenos en Twitter. Los comentarios están cerrados. Buscar artÃculos relacionados Vida Reporte de tendencias tributarias de TurboTax Trabajo Hobby Meets Hustle: Consejos sobre impuestos de traba… Vida El IRS ofrece alivio tributario para las vÃctimas de l… Vida ¡NUEVO! TurboTax lanza TurboTax Live Full Service en E… Vida ¿Puedes reclamar a tus padres de edad avanzada en tus … Vida Anuncian retraso en la implementacion del reporte del u… Vida Cómo preparar tus finanzas en el caso de que se produz… Vida Ley de Reducción de la Inflación de 2022: lo que si… Vida 10 cosas que debes saber sobre el periodo de inscripciÃ… Vida Beneficios tributarios que cambiarán para el año fisc…