Letters to the editor for Thursday, May 13, 2021

Letters to the editor for Thursday, May 13, 2021
Letter writers
More on taxes
In a letter to the editor in today's (May 10) paper, a writer said that income taxes were not an expense.
Financial statements have income and expense and taxes fall under the category of expenses. The writer seems to think that taxes, no matter the size are not expenses. How many companies would continue if taxes were 100% or more of profits? From an individual's perspective, if you receive a salary and taxes are deducted, isn't that an expense? If taxes were 100% of salary, would you still say it was not an expense? It is certainly not money you can spend.

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