Word: investors
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Dates: during 1980-1989
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...added that the University chose to be an original investor in Automatix, the only robot systems company in the United States, because "the robotics industry is just in its infancy and we think it has a very major application in increasing productivity...
...going to have to concern ourselves with capital investment: how we attract it and how to make the individual investor come to the feast. To some degree, we're going to have to re-examine tax policies and trade relationships...
...currently favored gimmick involves buying, at wholesale prices, box-loads of Bibles for $5 each. After holding them for one year, the investor donates the books Jo charity and takes a tax deduction of $20 for each Bible, the value set by the original owner. Another shelter under attack involves buying lithograph plates of an obscure artist, which gives the owner the right to produce 300 or so limited-edition prints. The investor might pay for this with $30,000 in cash, plus $120,000 in a so-called nonrecourse note, which does not have to be paid unless...
Robin Moore, author of The French Connection, has agents peddling a tax shelter that involves buying an interest in five future novels by Moore and others. An investor puts up $20,000 cash and a $100,000 note due in ten years and gets to depreciate $115,000 on his taxes in the first three years. If the novels and anticipated movies are bookstore and box-office smashes, the investor will hit the jackpot. If they flop, though, the investor will still have to pay off the $100,000 note after ten years...
Whether the tax shelter is risky or conservative, the one almost certain payoff is an IRS audit of the investor's tax return. The Treasury Department has programmed its computers to watch carefully for people who report large tax shelter write-offs. Warns IRS Commissioner Jerome Kurtz: "Those people investing heavily in abusive tax shelters are looking for trouble with...