Masonry Magazine February 1987 Page. 58
New Tax Report Gives Warnings on How a Loss Can Increase Tax-and So Can Getting Rid of Debt
Tax Report No. 626, available from the Independent Business Institute, points out that net operating losses are often handled wrong when a business owner expects the loss year to be followed by a profitable one. In such cases he may prefer to have his loss carried forward to reduce his taxes, rather than backward to generate a refund.
You can do this. But it has to be done by the law. Done improperly, the carryforward will be stricken down and thrown backward, resulting in underpayment, penalty, and interest for the current year.
The report also points out what people know but often forget-that reduction (forgiveness, sale, any disposal) of a debt generates taxable income. It cites four recent tax-court cases which taxpayers lost, concludes that one deserved to lose, but shows how the other three could have won had they arranged their loss disposal properly.
The report also contains examples of good and bad trust planning and other timely material.
Report No. 626 is available to any business owner/executive who sends $1.00 to cover postage and handling to the Independent Business Institute, PO Box 159, Akron, OH 44309.
Computer Technology May Dislodge Architects
By the year 2000, as many as four-fifths of the nation's architects could be "dislocated" as computers automate the production of architectural drawings, product specifications, cost estimates and schedules.
That's the prediction the Technology Assessment Board of the U.S. Congress heard from Harry Mileaf, director of technology for McGraw-Hill's Sweet's Division and chairman of the 4,000-member Coordinating Council for Computers in Construction.
Mileaf said he expects far-reaching changes in the goals and focus of architectural education and practice. "Computers in construction will improve the productivity of existing efforts but will not generate new jobs, as is the case in other industries," he said. "Within 15 years, computer-aided design (CAD) will have automated the drawing process substantially."
The Gospel According to Satchel Paige
1-Avoid fried meats, which angry up the blood.
2-If your stomach disputes you, lie down and pacify it with cool thoughts.
3-Keep the juices flowing by jangling around gently as you move.
4-Go light on the vices, such as carrying on in society. The social rumble ain't restful.
5-Avoid running at all times
6-Don't look back. Something may be gaining on you.
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