Bain Capital Under Investigation For Tax Avoidance-Romney Denies Any Benefit
Source: Forbes
New York Times is reporting that Bain Capital, the private equity firm founded by GOP presidential nominee Mitt Romney, is among a number of firms being investigated by New York Attorney General, Eric Schneiderman, for failing to pay taxes.
The New York AG’s Taxpayer Protection Bureau has issued subpoenas to at least twelve financial firms, including Bain, looking into whether the companies converted management fees (taxed as ordinary income) paid by investors into fund investments which are taxed at a dramatically lower rate.
The controversial tax avoidance scheme came to light last month when Bain Capital internal financial information was published online by Gawker.com , however the investigation had reportedly commenced prior to the publication and is not believed to be tied to the document dump.
According to the Times
The tax strategy — which is viewed as perfectly legal by some tax experts, aggressive by others and potentially illegal by some — came to light last month when hundreds of pages of Bain’s internal financial documents were made available online. The financial statements show that at least $1 billion in accumulated fees that otherwise would have been taxed as ordinary income for Bain executives had been converted into investments producing capital gains, which are subject to a federal tax of 15 percent, versus a top rate of 35 percent for ordinary income. That means the Bain partners saved more than $200 million in federal income taxes and more than $20 million in Medicare taxes.
Read more: http://www.forbes.com/sites/rickungar/2012/09/01/bain-capital-under-investigation-for-tax-avoidance-romney-denies-any-benefit/
Not this one:
This one:
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= new reply since forum marked as read
"These bars are not the right height"
a cell management fee waiver, which is good for the taxpayer-investors who built this jail and invest in running it but the waiver is not good for me, the manager of my cell...no wait a minute, I'll convert my income from doing the jail laundry into a management fee waiver since I help the investor-inmates manage the laundry loads..."
Thanks for the pshop 
if that search field works. otherwise type Bane and Death Gate Cycle
I say that because my screen name is based on that series. you'd have to be a fan to know why. I could have been Haplo. And technically the Patryns were skewered by the other race but his boss is a badass anyway. and he was gonna hurt the dog. oh Haplo was not having any of that.
But according to the financial "experts" at CNN/Fortune/Money, the Gawker documents prove nothing -- unless, of course, it's true that it's not really illegal. In which case this story could be a plant to generate sympathy and make it look like the liberals are all just picking on Mitt.
rocktivity
This "management fee waiver" sounds like sleazy business. Yeah, right, it's "all for the investor," and not to evade taxes, sure. I don't believe it. 
Show us the tax returns, Rmoney!
The fact that they're converting it doesn't seem like it should matter -- it's not as if they're deferring it into 401K's or something.
