Bezos May Have Trouble Securing Tax Benefits With WaPo
by Frank L. Brunetti on August 21, 2013
Amazon.com founder and chief executive Jeff Bezos turned some heads when the
billionaire decided to purchase the Washington Post for a reported $250 million. While it
remains to be seen what direction Bezos will take the newspaper, one thing some experts agree on is that he will need to utilize a hands-on approach with it to make it a viable business once again and reap major tax benefits.
After the announcement, Bezos noted he plans to remain in Seattle, where he continues to oversee many aspects of his online retail giant, meaning he personally won't be working on restructuring WaPo on a day-to-day basis. This, experts told the source, is why tax benefits may elude Bezos.
Congress has passed tax law measures in recent years to ensure that business owners
won't be able to secure tax breaks for companies they don't oversee the operations of on a regular basis. Thus, it may behoove Bezos to rethink his position on how he plans to run The Post in the future.
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