>There's a lot of ways to siphon money out of firms. People declare their car as a "work vehicle", CEOs fly to the beach on the company's jet, etc.
That's why there are specific IRS regulations for this[1]. "Company cars" basically disappeared as a result. Moreover contrary to what you imply, corporate taxes don't really solve this issue either. Corporate taxes are paid on profit, not revenue, and expenses like "work vehicles" or private jets aren't taxed either way.
That's why there are specific IRS regulations for this[1]. "Company cars" basically disappeared as a result. Moreover contrary to what you imply, corporate taxes don't really solve this issue either. Corporate taxes are paid on profit, not revenue, and expenses like "work vehicles" or private jets aren't taxed either way.
[1] https://www.irs.gov/publications/p15b