Word: deductionism
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As a skater, the reason for quad queasiness is simple. If you can't land it, it's not worth even trying under the current scoring system. A quadruple toe loop jump, the most popular version of a four-revolution jump, gives you a base score of 9.8 points. You...
He notes that the tax would use the same definition for cosmetic surgery that the IRS uses for the medical-expenses deduction.
One problem for newbies is the sheer magnitude of available tax breaks. "When you're a self-employed small business, pretty much everything is a deduction, whether it's entertainment, marketing dollars or stationary," says Joseph Leonard, founder of Coastal Financial Associates and author of The Retirement Vault.
Then come the tax breaks. The stimulus bill approved in February included an $8,000 tax credit for first-time home buyers - at a cost of about $14 billion for the year. That's set to expire, but there's talk in Congress of extending or even expanding it. A...
The other interesting bit about the mortgage-interest deduction is that policymakers never intended it to help promote homeownership - something that many people assume to be the case and use to help frame their thinking about the appropriateness of using the tax code to boost home-buying. Rather, the deduction...