« March 2006 | Main | May 2006 »

Apr26
Economic substance doctrine
Congress is back at it again, trying to tinker with the tax code. Unfortunately, they are still trying to change the wrong things (i.e., provisions that don’t help the leasing industry). Sure, all of these changes keep the accountants busy, but the only legislation affecting the leasing industry over the past several years has been negative. How about a shot at real economic stimulation?
 
Anyway, after an extra long spring break, probably spent on the beach cavorting with coeds, Congress reconvened this week to face what RIA Thompson terms “the same crowded agenda of tax issues that were left unresolved when it broke for the Easter recess.” What does this crowded agenda encompass?
 
There currently is a tax reconciliation bill being considered. Both the House and Senate versions of the bill retroactively extend a number of provisions that expired at the end of 2005. These provisions include the alternative deduction for state and local sales taxes, the research and experimentation tax credit, the deduction for higher-education expenses, and the work opportunity and welfare-to-work tax credits. The House, but not the Senate, would extend low-tax treatment of capital gains and dividends for two years (from 2008 to 2010).
Continue Reading
Apr24
Know your vendors
Apr20
MACRS extension
Apr17
Hybrids and SUVs
Apr13
Tax credits for leased vehicles
Apr10
Soccer, bribery, and fraud
Apr 7
UNL pools
Apr 5
Wal-Mart rages on
Apr 4
New leasing applications

« March 2006 | Main | May 2006 »

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