That's after deductibles, the rate 17%.
I have my home offices at 5 places, Virginia (2), Maryland, Phila, Florida, all tax-deductible.
And it's deducted very generously, even the electricity is deductible, all the computers, internet, printer, etc.
Mortgage costs are of course deductible, one thing I have problem to explain to my Mom. She doesn't understand why I don't pay off all my houses, which I could do in the next minute.
My wife imported 20 trees from Japan, over $100k, tax-deductible - cost of running a business.
True, my business partners do come to my home office to make deals, but mostly it is for my house beauty. They would come no matter what, without those Japanese trees and flowers.
But hey, better to enjoy the law, while it lasts!
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Big corporations have deductibles you wouldn't believe.
Drug companies bring lunch to doctors' office, give Olympic-styled stopwatch to measure "time to erect" along with Levitra samples, all are tax-deductible.
Golf trips are, too.
Money for lobbying is counted, too.
Even personal guard dogs are, but lately not their food. Who cares, huh, dogs cost sometimes $30k, their food cost a few hundreds, big deal.
Merryll Lynch renovated their offices with marbles from everywhere in the world, some $20M or more, tax-deductibles.
Well, IBM, I heard, paid $0 tax last year, in fact the gov paid them back for lots of innovative costs, grants, etc.
That's life in the USA.
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