But why are we giving tax returns to corporate?

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Caleb Hammer

Caleb Hammer hosts a show discussing financial topics, including personal finance, business models, and challenging guests' financial decisions and behaviors.

9 videos4 creators

Why it worked

The video likely performed well due to the relatable and often surprising topic of taxes, presented in a conversational and engaging podcast format. The creator's personal brand and the clear correction of a common misconception likely resonated with viewers.

Summary

The video discusses the misconception that big companies receive tax refunds. The host clarifies that companies may receive tax money back if they overpaid estimated taxes, and explains the concept of quarterly estimated taxes for individuals versus corporations. The discussion touches on a specific instance involving Chase Bank receiving a tax refund.

Structure

1Misconception about corporate tax refunds
2Clarification on tax returns vs. overpaid estimated taxes
3Explanation of quarterly taxes for individuals

Original caption

She Thought Big Companies Got Tax Refunds… Caleb Had to Correct Her 😳 #fyp #calebhammer #financialaudit #finance #money

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Product placement

Chase Bank: ACTS - provides financial services, including tax-related services and refunds. Removing it would change the context of the discussion about tax refunds. Caleb Hammer: ACTS - host of the show, discusses financial topics. Removing him would change the video's content.

On-screen text

She Thought Big Companies Got Tax Refunds... Caleb Had to Correct Her 😳 BUT WHY ARE WE GIVING TAX RETURNS TO CORPORATION? TAX RETURNS? YES. NO, WE'RE GIVING TAX. TAX RETURNS. YES. TAX RETURNS. TAX RETURNS. YES. TAX RETURNS. TO PEOPLE WITH KIDS. TAX RETURNS? WHAT ARE YOU TALKING ABOUT? YOU'RE TALKING ABOUT WHERE THEY SPEND MORE MONEY THAN THEY MAKE ON PAPER, SO THEY HAVE TO PAY LESS TAXES. WHAT CONTEXT IS IT WHEN THEY. THEY GOT, UM. THEY WENT TO A NEW AREA AND THEY A CITY. NO, LIKE A CHASE OF. THIS IS PROBABLY FROM BUT CHASE BANK GOT, UH. TAX RETURN. I KNOW. AND WHAT WAS THE CONTEXT ON WHAT YOU'RE SAYING? CHASE IS NOT A TAX NET CONTRIBUTOR? I HAVEN'T HEARD OF THIS SPECIFIC CHASE THING. I'M GONNA CHECK IT, BUT OKAY. SHE'S MOST LIKELY REFERRING TO CHASE, APPARENT COMPANY OF RECEIVING A NET 1.1 BILLION U.S. FEDERAL INCOME TAX REFUND ON CASH BASIS FOR 2025. LET'S GET THE CONTEXT THOUGH. IT? BECAUSE THEY OVERPAID ESTIMATED TAXES IN THE PRIOR YEAR. YOU'RE YOU'RE SO OH, I LOVE IT. THANK YOU FOR MAKING MY SHOW POSSIBLE. FOR LITERALLY NOT KNOWING ANYTHING CAUSE THAT WAS SUCH AN EASY LOOK UP. SAME THING WOULD HAPPEN HERE. WE HAVE TO DO QUARTERLY AND IF I PAY TOO MUCH, THEN I WOULD GET MONEY BACK.

Transcript

Tax returns. No, we're giving tax tax returns. Yes. Yes. Tax returns. Tax returns. Yes. We have tax returns to people with kids. Tax returns. What are you talking about tax returns? You're talking about where they spend more money than they make on paper so they have to pay less taxes. What do you mean tax returns to? There are like Fortune 100 companies that got that have gotten tax money back. What kind of tax? Is it when they they got um they went to a new area and they reached a deal with a city. No, like a chase of this is probably from a couple years ago, but Chase Bank got uh tax return. I know what what was the context on what? You're saying Chase is not a tax net contributor. I haven't heard of this specific Chase thing. I'm going to check it, but okay, she's most likely referring to JP Morgan Chase the company of Chase Bank receiving a net 1.1 billion US federal income tax refund on cash basis for 2025. Let's get the context though. Why did they do it? Because they bypassed estimated taxes in the prior year. You're You're so Oh, I love it. Thank you for making my show possible for literally not knowing anything. Cuz that was such an easy look up. Same thing would happen here, we have to do quarterly estimated taxes and if I pay too much then I would get money pack.