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Another provision gives companies a 50percentt bonus deduction on capital investments made in 2009 that normally would be deducted over many years.
"We're the ones already not getting paid and then to get a point deduction on top of that would be quite difficult to take," said MacDonald.
Corporations can also take a tax deduction on their donations to the host committee, but individuals are barred from deducting political contributions.
Our employers got a tax deduction on what they contributed.
I am not just talking about the deduction on your home mortgage.
The tax deduction on debt comes about because corporations are taxed only on their earnings.
If that's true, he'd be precluded from taking that deduction on Page 1 on his 1040".
They also, unusually, limited the amount they could claim as a tax deduction on charitable givings.
In the process, the shareholder also receives a charitable deduction on his taxes.
The biggest of these have been the reductions in the social security deduction on paychecks.
Can I still take a deduction on my income tax return?
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CEO of Professional Science Editing for Scientists @ prosciediting.com