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Politics : A US National Health Care System? -- Ignore unavailable to you. Want to Upgrade?

To: J_F_Shepard who wrote (36408)	5/3/2014 1:57:10 AM
From: i-node	Respond to of 42652

>> That's right, the blessed business man should have no rules to follow and all the tax breaks he handle.... That's silly. Business deductions are not "tax breaks". In fact, most "tax breaks" for businesses are long gone, with Reagan's TRA86 doing away with them. And that includes the section 469 "Passive Activity Loss" rules for rental property as well as enhancements to IRC 465 "At-risk Limitation" for partnerships, particularly oil and gas -- which closed down those tax shelters that were so popular before Reagan. My dad had an 8th grade education but he had a reasonable understanding of profit and loss, and he understood that if you were going to have donuts left at the end of the day you might as well discount them, or even give them to the cops and firemen and striking mill workers as have them go stale overnight. This stuff we've been talking about just isn't that complicated. No one is expecting you to understand consolidated financial statements or section 704(b). But the idea that profit is equal to revenue less expense shouldn't be giving you this much trouble.