Quotes about deduction (11 Quotes)






    If the standard mileage rate was first used when the vehicle was placed into service --used for business -- then the taxpayer may convert to the actual expense deduction to offset higher fuel cost for the current year. From September 1, 2005 through December 31, 2005 the IRS increased the standard to 48.5 cents per mile. Despite the increase in the standard mileage rate, one should carefully weigh which expense -- actual or standard --they should use for their 2005 return.


    We are approaching a new age of synthesis. Knowledge cannot be merely a degree or a skill... it demands a broader vision, capabilities in critical thinking and logical deduction without which we cannot have constructive progress.

    The impact if this did become law will be felt nationwide. First it will help generate more donations to the relief effort, ... It will give all taxpayers who take the standard deduction a break for their donations. Finally, it will reduce the burden on the government to fund the relief efforts.

    Democracy is not a mathematical deduction proved once and for all time. Democracy is a just faith fervently held, commitment to be tested again and again in the fiery furnace of history.



    Entertaining customers is a cost of doing business. The reason it was limited is it was being abused. As soon as you allow businesses to deduct costs, the big question arises what is costs should be deductible. You might see luxury boxes as abuse of that provision, but at least all businesses can utilize the entertainment deduction in some way.



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