Exact(7)
They did this by filing huge deductions, reducing their taxable income to almost zero.
They are also large enough to qualify for huge deductions for small business under loopholes in the tax code.
A plan that included a little bit of everything, and then some: say, raising the retirement age; reducing the huge deductions for mortgage interest and health insurance; closing corporate tax loopholes; cutting pensions of some public workers, as Republican governors favor; scrapping wasteful military and space projects; doing more to hold down Medicare spending growth.
After a confrontational back-and-forth with a television reporter over an article in The Los Angeles Times that reported how she wrote off huge deductions and paid $771 in federal taxes over the last two years, Ms. Huffington said to the reporter, "Honey, I think you're confused".
The voluminous tax-cutting plans by Senators Barack Obama and John McCain do not address the fundamental disparity in the tax codes that allows homeowners huge deductions on mortgages but does not provide a similar benefit to renters, who make up around two-thirds of the city's households.
Concealment, falsification of records, huge deductions for personal expenses there was plenty of evidence to support the guilty verdict.
Similar(51)
He botched his routine early, falling off the bars, an automatic huge deduction.
"They are functionally obsolete," said Robert Wilder, the firm's principal, "and a huge deduction of the value of the property".
Just take a look at that huge deduction for FICA -- Social Security -- from your paycheck every month.
Citigroup's huge tax deductions are the result of its losses in the financial crisis.
Most crucially, the corporate structure means that a buyer would not be able to claim huge tax deductions for depreciation.
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Justyna Jupowicz-Kozak
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