AmEx Learns The Hard Way: Pigs Get Fed; Hogs Get Slaughtered
A tax-planning adage states, “Pigs get fed; hogs get slaughtered.” In pushing a “dodgy tax break” to business customers, AmEx taught itself and them a lesson they should have already known. AmEx’s Tax Alchemy AmEx wanted to boost commission fees from business customers. So, it suggested to owners of closely held businesses that they make …
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