Word: lowerers
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...drip-drip of diplomacy, especially on neglected issues like nuclear proliferation. Even in the war zones, the Obama Administration will be talking relentlessly - trying to bring the nonextremist Taliban tribes into the Afghan government, trying to establish coalitions of Iraq's and Afghanistan's neighbors (including Iran) to help lower the tensions, hoping the steady accretion of talk and trust will bring the Israelis and Palestinians to a point at which they can begin negotiating a real peace...
...replace Henry Paulson at Treasury. Republican and Democratic Senators, a number of whom have reiterated their support for Geithner in the past week, are likely to vote to confirm him as early as Thursday. Still, Hook and other tax experts say that if Geithner hopes to lower his April 15 bill in the future, he has some legitimate options - even if he lands the high-profile Treasury Secretary job. What follow are some filing tips for Geithner, as well as common tax traps he should avoid...
Geithner could lower his bill if he or his wife worked regularly from home. Geithner's wife Carole is a clinical social worker. If she saw patients in her home during the past year, tax experts say the Geithners could reasonably claim that at least 500 sq. ft. (45 sq m) of their 2,500-sq.-ft. (230 sq m) home was devoted to Carole's business. That would allow the couple to write off 20% of the upkeep and utilities expenses as well as local property taxes. (See TIME's bailout report card...
...share. State income taxes and property taxes are federal-income-tax deductions. And since Geithner pays nearly $45,000 in those two taxes, he most certainly would be caught by the AMT. When you pay AMT, you can't take individual federal deductions. Still, he could use deductions to lower his state taxes, which at about $25,000 are pretty sizable...
...which is expected to take four to six months. Even the exact number of Satyam employees is said to be inflated. Although Satyam claims to have 53,000 people on its rolls, the investigating agencies are trying to verify the figure, and some estimates say the number could be lower by 15% to 20%. (See pictures of India's disastrous floods...