Word: write-offs
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Energy exploration investments have become hot tax shelters recently because the decontrol of oil and gas prices has unproved the potential payoff. In 1978 public investors put $670 million into oil and gas ventures. Last year that shot up to almost $1.1 billion. If the energy search is successful, the...
A company buys professional advice to dress executives in the proper corporate uniform and leases a rack of clothes -both costs presumably tax deductible. Haas prefers a minimum corporate order of $5,000 for a recommended two-year lease of twelve suits priced at about $400 apiece. The Internal Revenue...
In any case, whom does the art boom benefit? Only collectors and middlemen. Few artists get to share in it. This is partly because boom conditions create an unreal system of reputation, with most of the benefits going to a handful of stars at the top and scarcely anything to...
The history of McLean County during this century is mostly a story of dreams richly come true. The seed the Funk brothers developed yields 150 to 160 bushels of corn an acre. The Funk Prairie Home, once center of a 25,000-acre farm, is now a museum, and the...
Since UNCTAD last met in Kenya three years ago, several Latin American governments as well as Sri Lanka, India and others have moved toward more reliance on free market economics. A resolution calling for the industrialized nations to cancel or suspend debts of the LDCs was quietly suppressed by some...