There are a wide range of corporate deductions, involving special depreciation allowances and upfront deductions for capital expenditures, which are also ripe for cutting back.
In its two-year life, the Seventy-third Congress raised tax rates, ended the tax-exempt status of corporate dividends, limited deductions for capital depreciation, and approved the exercise of eminent domain.
It's important to notice that such measures as increased deductions for capital losses provide no benefit to those whose investment takes place through 401(k) plans; so these tax breaks are mainly for the very affluent.
Can government not be run more as a business, with a little bit of attention to the bottom line?' " What McMahon has in mind for the country, more specifically, is to slash or freeze a slate of corporate taxes, while also abolishing the estate tax and the gift tax and creating a series of new deductions for capital expenditures.
The law forbids deductions for capital losses in a wash sale.
Before the current uncapped season, the CBA required teams to pay players no more than 60% and not less than 56% of league revenue, net of deductions for capital expenditures and a portion of local revenue.
While there were pockets of hope for small businesses in the American Recovery and Reinvestment Act government grants for eco-friendly renovations, tax deductions for capital expenditures and research grants for technology development–for the most part entrepreneurs argued that those potential opportunities still paled in comparison to the billions of dollars flowing to big corporations.
And a low cap on deductions and preferences for capital gains, carried interest and all of the other "preferred" forms of income should raise far more revenue than the 3.6percentt increase the president proposes.
The Camps like Mr. Bush because, among other reasons, he raised the deduction small-business owners can take for capital equipment to $100,000 from $25,000, allowing them to buy refrigerators and other equipment more cheaply.
