Jordan wrote:
>Depreciation is ultimately revenue neutral (in most cases!); >so is AMT.
>So I guess that's my point: an un-do of AMT, while >complex for
>accountants, doesn't really impact the treasury.
Jordan mate this is crazy. In the sense you seem to be using, it's "ultimately revenue neutral" if I ask you to give me a million pounds today in exchange for a million pounds in ten years' time. It's revenue neutral in the sense that you get your money back in the end, but I can make quite a nice living at your expense if you're prepared to let me do it without limit.
The darling Tess got the taxman to pay 25% of the cost of her laptop computer (as in, her tax bill was lower by 25% of the cost of the computer), because she's a business. I had to stump up the whole of the cost of mine, because I'm a private citizen. At the end of the year, she has a couple of hundred quid to spend on sweets that I don't. That's a benefit to being a business rather than a person. Depreciation allowances are more of the same on a bigger scale.
dd
I do not necessarily share any views of my email provider, or of the similarly named al-islam.org
Get Your Free Email at http://www.al-islam.com