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write-off |
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| A little-noticed provision in a corporate tax bill approved in the Congress would sharply limit donors' tax write-offs for car donations and other material gifts. The Fire Department's paramedic response and transportation program, which began in March 2000, will show a net loss of about $400,000 for the year ending June 30, 2003, due to a flat revenue stream, increased salary and overtime costs, increased write-downs and write-offs. Given that real estate acquisitions are financed up to 100% of value, and that real estate is afforded special treatment under the tax code with respect to debt-financed deductions, an exceptional opportunity exists in creating extraordinary tax write-offs with minimal cash investments. |
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