Word: deductionism
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Clinton's plan not only raises the top corporate tax rate to 36%, but also restores much of the fiscal macrame that enriches lawyers and tax accountants. The real estate industry, a staunch Clinton ally, makes out very nicely. A proposal to limit the mortgage-interest deduction for upper-income...
That's what Mary Grigsby learned as she waited on tables for the corporate executives, lawyers and politicians who frequent the club. She watched them carefully keep track of their receipts so they could write off their cocktails and meals as a "business expense," subsidized by average taxpayers who enjoy...
FOR GROWING NUMBERS OF WORKING PEOPLE, HOME is where the job is. But to the U.S. Supreme Court, home had better be where virtually all the job is -- or no tax deduction. In a decision that will make it harder to write off the costs of a home office as...
The ruling was handed down in the case of Dr. Nader Soliman, a self-employed anesthesiologist who spent 10 to 15 hours a week working out of the spare bedroom of his home in McLean, Virginia. Soliman also worked a total of 30 to 35 hours each week in three...
"Harvard University is by law a collection agency of the Internal Revenue Service. What about that?" he said. "Gays and lesbians do not get a marriage deduction according to the tax code. What about that?"