Word: write-off
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...breaks: 1) he can deduct interest on his $75,000 share of the loan; 2) in the first year, he can take two-thirds of the 10% investment tax credit on his $100,000 share of the movie's cost; 3) most important, he can take a depreciation write-off on the whole $100,000-80% of it in the first 18 months. For $25,000 in cash, the investor can get write-offs that in the first year virtually wipe out the taxes on $75,000 to $100,000 of his nonmovie income...
...dumping the business-machine division. It includes data-processing equipment, electronic cash registers and calculators, and has lost about $60 million since 1970. Singer thus joins a large number of corporations that have dropped out of the costly, brutally competitive computer business: notably, RCA, which took a pretax write-off of $490 million in 1971; Xerox Corp., which wrote off $84.4 million last year; and GE, which...
...issues to be settled. "It's pretty sad," sighed Keating. "They've taken the wind out of our sails." Said a weary Csonka bluntly: "It must be nice to be in a position to make the laws. Let's go ahead and take a double tax write-off on our tractors." With all meetings canceled, Csonka and Keating appeared on TV and returned to Ohio...
...scaling down of the 35% capital gains tax. The longer an asset is held, the less it would be taxed when it is sold. After 15 years, the tax would be trimmed to 14%. The bill also increases from $1,000 to $4,000 the maximum yearly write-off of capital losses...
Mehring purchases his farm as a tax write-off, but it gradually grows on him -and on the reader. Soon the African earth and its plowman conspire to give the novel its center and its soul. The lyricism cannot last. Mehring cracks up principally because the author must punish the undertow of racism that tugs at all his small virtues. To bring about the denouement, Gordimer resorts to a trick best relegated to gothic potboilers: the corpse that will not stay put. The body of a black man, apparently murdered, appears on Mehring's land. He has it buried...