[mrguyorama]

The SEC does not police tax loopholes. As long as everything they do is documented and legal, the SEC allows it. Hollywood accounting isn't some myth, giant companies like apple do it, where you can "lease" or "sell" intangibles like "IP" consisting only of your brand identity to a separate legal entity in a different jurisdiction that taxes it differently, allowing you to play games with who owns what, and who books what revenue, and who claims what income.

This is all SOP in any company big enough to have its own accounting department. That's like, their entire job and industry.