Word: write-off
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...potential payoff. In 1978 public investors put $670 million into oil and gas ventures. Last year that shot up to almost $1.1 billion. If the energy search is successful, the reward is a pot of gold. If the drilling turns up a dry hole, there is a generous tax write...
...minimum corporate order of $5,000 for a recommended two-year lease of twelve suits priced at about $400 apiece. The Internal Revenue Service is stonewalling comment on rent-a-suits because there are no existing rulings or regulations. In the meantime, companies assume it is a tax write...
...benefit by giving it to a museum at its enhanced value, fueled the art boom. The inequity of such laws has been that, if the artist gives his own work to the same museum in the same year, he cannot claim its fair market price as a write-off: all that the IRS gives him back is the cost of canvas and paint. The unfairness is compounded when the artist dies: the state then assesses the paintings in his estate at their highest market value and makes his heirs pay tax on that. This may be why the geese...
...company is a division of Ciba-Geigy. Land that McNulta bought for $150 an acre now hovers around $4,000 an acre, too much for anyone ever to start out farming there now, but not a bad price for to day's farmer/investor to use as a tax write-off. The Osage orange hedges, planted a hundred years ago against the chilling wind, are being torn out, because machinery these days needs more room just to turn around. The wind sweeps down, carrying off the topsoil, buffeting the farmer who can, thanks to progress, plant 300 acres...
...cancel or suspend debts of the LDCs was quietly suppressed by some of the capitalistic advanced-developing countries. Although the U.S. had already written off $500 million in debts owed by 15 of the poorest nations, ADCs like South Korea, Singapore and Brazil have feared that any further write-off would make them appear to be poor credit risks and that international lenders might push up interest rates or hold back on future loans...