ST Alpha - "Ugh why did I read the NYT piece on the stimulus bill?" (Reading a Post)

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Ugh why did I read the NYT piece on the stimulus bill?

Posted by spamlet Mar 25 '20, 18:44

“ The provision could potentially benefit Mr. Trump’s companies, among many others, by allowing them to immediately write off money spent on renovations at hotels or restaurants, instead of having to take the deduction over 37 years.”

1. Nothing is depreciable over 37 years in the tax code.
2. The fix is for 15 year equipment (leasehold improvements specifically)
3. Congress immediately said it messed up in the TCJA and this intended to be included and they’ve spent two years trying without agreement.

But reading that “analysis” that is like 2/3 of the article is maddening.

Responses:

Right? They should have left it at 37 years -- nm - ty97 Mar 25, 18:53 6
- It’s very clear that the writers and editors of that story don’t know anything about the tax code. -- nm - spamlet Mar 25, 18:56 5
  - I do find it common on these kind of issues. Often they may actually state something factually correct, but don't understand the broader context and - pmb Mar 25, 19:55
  - "Talks broke down after the initial draft containing 401k was countered by demands for 501c but ultimately the compromise resulted in 1099." -- nm - Max Mar 25, 19:04 1
    - Oh, I remember the 1040 wars of 1997 -- nm - ty97 Mar 25, 19:05
  - Outside of my (pretty simple) personal taxes, I have not looked at tax in 20+ years. - ty97 Mar 25, 19:03 1
    - You’re also not writing for the paper of record. - spamlet Mar 25, 19:05

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Ugh why did I read the NYT piece on the stimulus bill?

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