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Exact(15)
Lawmakers have routinely raised concerns over companies being able to deduct large civil settlement payments.
No one has any issue with being able to deduct business expenses, but that is not what negative gearing is.
Being able to deduct the gross monetary value of an asset without selling it in effect confers a double tax benefit.
Sure, buying a house doesn't threaten your health as smoking does, but the allure of ownership – and of being able to deduct your mortgage interest against your taxes – shouldn't blind you to its downsides.
In addition to lower tax rates, small business owners get a generous benefit starting next year of being able to deduct 20percentt of their business income tax-free.
By contrast, breaks that tend to favor richer residents, like being able to deduct for home mortgage interest and reduce the cost of capital gains taxes, shift more of the tax burden to lower wage earners.
Similar(45)
So Mr. Romney wants to allow people who buy their own health insurance to be able to deduct premiums, deductibles and co-payments from their income.
If you itemize deductions, you might be able to deduct certain medical expenses for the costs of diagnosis, cure, mitigation, treatment and prevention of disease.
In addition, 85percentt of all itemizers are able to deduct their property taxes through the SALT deduction.
Then, given their income and the limits on deductions, he said, they would be able to deduct only a small part of the work's value each year.
However, you might be able to deduct the cost of driving if you itemize your deductions.
More suggestions(17)
being able to exclude
being able to withhold
being able to derive
being able to reduce
being able to collect
being able to assume
being able to claim
being able to rent
being able to conclude
being able to retain
being allowed to deduct
being used to deduct
being able to help
being able to trust
being able to walk
being able to afford
being able to breathe
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com