Word: deductionism
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Tighten up interest deductions. America's most venerable tax shelter is the deduction on home-mortgage interest, a provision that was originally created to help families buy their first home. But perhaps that write-off is too generous. Earlier this month the House Ways and Means Committee adopted a $12.3...
Because tax reform abolished the capital gains tax deduction as of January 1, many local landlords were scrambling to unload property while it was still profitable. The University is perceived as a logical buyer because, Zeckhauser says, "Harvard tends to pay cash, and it's a big entity" in the...
The University's buying frenzy last year is attributable, in part, to the recent tax reform which abolished the capital gains deduction as of January 1, 1987. Harvard Real Estate (HRE), Inc., the University's property management firm, was approached by a number of local landlords interested in unloading parcels...
In theory, about 90% of U.S. taxpayers remain eligible for the full IRA deduction next year. The evidence suggests, however, that they are less likely to use the savings device. In putting together last year's tax package, the Senate Finance Committee discovered that in 1984, less than 8% of...
Financial advisers are divided about whether a postreform IRA makes sense for people who can no longer claim the full $2,000 deduction. Some money managers point out that the same limited tax break can easily be found in a tax-exempt municipal bond. Unlike the IRA, it imposes no...