Word: deductible
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Dates: during 2000-2009
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...CONCERNS. You'll forgo some tax benefits associated with investing in real estate, says Islandia, N.Y., financial planner Michael Kresh. You usually can't deduct depreciation, and when you begin withdrawing money from a traditional IRA or SEP-IRA, those funds will be taxed as regular income. Since a Roth IRA lets you withdraw funds tax free after age 59 1/2, that may be your best option...
...most jobs. Most small businesses don't pay corporate income tax. Instead, their profits are treated as income to their owners. So cutting ordinary income-tax rates is "really pumping capital into ... small business." The new tax bill also quadruples, to $100,000, the amount a small business can deduct each year for new equipment. Bush called this limit a "cap on investment...
...capable of destabilizing Elf. We had to shut them up or make sure they were with us." To what extent Elf broke French law with its slush fund is unclear. At the time, party-funding rules were loose and paying bribes to foreign officials was legal; indeed, companies could deduct them from their taxes. (That has since changed.) The prosecutors are focusing on allegations that, in the process of handing out Elf's money, the defendants broke the law in helping themselves to some of it. Le Floch-Prigent, who is now serving a 21/2 year sentence from a previous...
...Establishment orientation, SUV partisans aren't burning anything (except gas); their defense is mostly carried out in sedate op-eds. After enduring months of attacks, pro-SUV forces cheered last month when it was disclosed that the Bush Administration wants to increase a tax break allowing small businesses to deduct much of the price of the heaviest SUVs from their taxes--even when those SUVs won't be hauling anything more than the boss and his morning Starbucks...
...suggest that students who want to sell books ask about 60 percent of the price they paid for them," Lofchie stated, "and, since there is no profit for us to deduct, we sell them for that price, which often turns out to be almost a third loss than the same book would cost at one of the local stores. In that way, both buyer and seller get an unusually good deal...