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Reply #36: welcome to the wonderful world of tax planning [View All]

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Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
Sen. Walter Sobchak Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-21-10 10:39 PM
Response to Reply #20
36. welcome to the wonderful world of tax planning
They are not buying properties is Detroit for redevelopment, their buying them so they can engineer a loss making leasing transaction for a tax write-off. Completely worthless assets can demand quite the premium for tax purposes. The US and Germany are two such countries that have laws favorable to turning worthless property into losses for tax purposes.
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