The corporation wrote off $50 million invested at the track over the last two years, and has balked at building a parking garage and overhauling the aging backstretch.
Analysts estimate that corporations may write off as much as $1 trillion this year.
Despite these benefits, corporations can write off the donations as charitable contributions.
Alarmed about a drop in business spending, the administration pushed through a generous "bonus depreciation" that let corporations immediately write off one-third of their investment in many kinds of equipment.
The corporations will get to write off $325 million, the value assigned to the sewer lines, and shield corporate profits from federal and state taxes, according to the deal documents.
Venture capitalists worry that, should Israel become a political pariah, many global corporations — potential customers for their portfolio startups — would write off dealing with Israelis as just too much trouble.
So far it has had to write off $7 million (these were all separate corporations owned by Malone's Liberty Media but responsible for their own debts), and it warns that it could lose another $10 million to a third, insolvent Malone company.
Corporations also commonly take advantage of a rule called "accelerated depreciation," which allows them to write off investments faster than they wear out, according to WaPo.
Among these are portions of the tax code that allow multinational corporations to shelter overseas income and a special "bonus depreciation" break that allows businesses to write off the entire cost of new investments right away, rather than over time.
8. Romney's programming still contains some lurking rogue subroutines: the "corporations are people, too" crack, the $10,000 bet … The kind of Big Gaffe(s) that made us write off Rick Perry could still erupt.
