{"id":17623,"date":"2014-01-06T05:35:49","date_gmt":"2014-01-06T10:35:49","guid":{"rendered":"http:\/\/www.patheos.com\/blogs\/geneveith\/?p=17623"},"modified":"2014-01-05T15:48:09","modified_gmt":"2014-01-05T20:48:09","slug":"tax-breaks-that-have-expired-as-of-jan-1","status":"publish","type":"post","link":"https:\/\/www.patheos.com\/blogs\/geneveith\/2014\/01\/tax-breaks-that-have-expired-as-of-jan-1\/","title":{"rendered":"Tax breaks that have expired as of Jan. 1"},"content":{"rendered":"\n<\/head>

Fifty-five tax breaks have expired with the new year.\u00a0 Some are clearly special-interest perks.\u00a0 Others are time-honored staples, such as companies getting to deduct Research & Development expenses and tax incentives for wind power and energy-efficient appliances.\u00a0 Others amount to broad-based tax increases.<\/p>\n

From The list: Tax breaks expiring at end of year | Business | Bradenton Herald<\/a>:<\/p>\n

\u2022 A tax credit for research and development, benefiting a wide range of industries, including manufacturers, pharmaceutical makers and high tech companies. The tax break saved companies an estimated $6.2 billion in 2013.<\/p>\n

\u2022 An exemption that allows banks, insurance companies and other financial firms to shield foreign profits from being taxed by the U.S. The tax break is important to major multinational banks and financial firms, saving them an estimated $9.4 billion in 2013.<\/p>\n

\n

\u2022 A tax break that allows profitable companies to write off large capital expenditures immediately \u2014 rather than over time \u2014 giving some companies huge tax shelters. The tax break, known as bonus depreciation, benefits automakers, utilities and heavy equipment makers. Tax break: $34 billion in 2013, though companies lose future savings because they would have already written off the cost of items.<\/p>\n

\u2022 A tax credit for producing renewable energy, including wind and solar, in plants built before the end of 2013. Tax break: $116 million in 2013, though the savings would grow over time, saving companies more than $12 billion over the next decade as the plants continue to produce energy.<\/p>\n

\u2022 A provision that allows restaurants and retail stores to more quickly write off the cost of improvements. Tax break: $277 million in 2013.<\/p>\n

\u2022 Increased tax rebates to Puerto Rico and the Virgin Islands from a tax on rum imported into the United States. The U.S. imposes a $13.50 per proof-gallon tax on imported rum, and sends most of the proceeds to the two U.S. territories. Cost: $199 million in 2013.<\/p>\n

\u2022 A 50 percent tax credit for expenses related to railroad track maintenance through 2013. Tax break: $232 million in 2013.<\/p>\n

\u2022 A provision that allows motorsport race tracks to more quickly write off improvement costs. Tax break: $46 million in 2013.<\/p>\n

\u2022 Enhanced deductions for companies that donate food to the needy, books to public schools or computers to public libraries. Tax break: $218 million in 2013.<\/p>\n

\u2022 A tax break that allows TV and movie productions to more quickly write off expenses. Sexually explicit productions are ineligible. Tax break: $266 million in 2013.<\/p>\n

\u2022 A tax credit of up to $2,500 for buying electric-powered vehicles was expanded to include electric-powered motorcycles. Golf carts, however, were excluded. Tax break: $1 million in 2013.<\/p>\n

For the complete list, go here<\/a>.<\/p><\/div>\n<\/blockquote><\/body><\/html>\n","protected":false},"excerpt":{"rendered":"

Fifty-five tax breaks have expired with the new year.\u00a0 Some are clearly special-interest perks.\u00a0 Others are time-honored staples, such as companies getting to deduct Research & Development expenses and tax incentives for wind power and energy-efficient appliances.\u00a0 Others amount to broad-based tax increases.<\/p>\n","protected":false},"author":1281,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13,19],"tags":[2155],"class_list":["post-17623","post","type-post","status-publish","format-standard","hentry","category-economics","category-government","tag-taxes"],"yoast_head":"\nTax breaks that have expired as of Jan. 1<\/title>\n<meta name=\"description\" content=\"Fifty-five tax breaks have expired with the new year.\u00a0 Some are clearly special-interest perks.\u00a0 Others are time-honored staples, such as companies\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.patheos.com\/blogs\/geneveith\/2014\/01\/tax-breaks-that-have-expired-as-of-jan-1\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tax breaks that have expired as of Jan. 1\" \/>\n<meta property=\"og:description\" content=\"Fifty-five tax breaks have expired with the new year.\u00a0 Some are clearly special-interest perks.\u00a0 Others are time-honored staples, such as companies\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.patheos.com\/blogs\/geneveith\/2014\/01\/tax-breaks-that-have-expired-as-of-jan-1\/\" \/>\n<meta property=\"og:site_name\" content=\"Cranach\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/cranachblog\/\" \/>\n<meta property=\"article:published_time\" content=\"2014-01-06T10:35:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2014-01-05T20:48:09+00:00\" \/>\n<meta name=\"author\" content=\"Gene Veith\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Gene Veith\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/2014\/01\/tax-breaks-that-have-expired-as-of-jan-1\/\",\"url\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/2014\/01\/tax-breaks-that-have-expired-as-of-jan-1\/\",\"name\":\"Tax breaks that have expired as of Jan. 1\",\"isPartOf\":{\"@id\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/#website\"},\"datePublished\":\"2014-01-06T10:35:49+00:00\",\"dateModified\":\"2014-01-05T20:48:09+00:00\",\"author\":{\"@id\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/#\/schema\/person\/f9ca8670bcc51908a78994c0484dbfa1\"},\"description\":\"Fifty-five tax breaks have expired with the new year.\u00a0 Some are clearly special-interest perks.\u00a0 Others are time-honored staples, such as companies\",\"breadcrumb\":{\"@id\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/2014\/01\/tax-breaks-that-have-expired-as-of-jan-1\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.patheos.com\/blogs\/geneveith\/2014\/01\/tax-breaks-that-have-expired-as-of-jan-1\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/2014\/01\/tax-breaks-that-have-expired-as-of-jan-1\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Tax breaks that have expired as of Jan. 1\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/#website\",\"url\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/\",\"name\":\"Cranach\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/#\/schema\/person\/f9ca8670bcc51908a78994c0484dbfa1\",\"name\":\"Gene Veith\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/054d79faea5d476edd8f99e5f14fb17f?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/054d79faea5d476edd8f99e5f14fb17f?s=96&d=mm&r=g\",\"caption\":\"Gene Veith\"},\"description\":\"Gene Edward Veith, Jr. is a writer and retired literature professor, serving as Provost Emeritus at Patrick Henry College. He has authored over 25 books on Christianity and culture, literature, classical education, and theology. Dr. Veith previously held academic and editorial roles at Concordia University Wisconsin and WORLD Magazine. A respected voice in Lutheran and classical education circles, he holds a Ph.D. in English and several honorary doctorates. He and his wife, Jackquelyn, live in St. Louis and have three children and twelve grandchildren.\",\"sameAs\":[\"https:\/\/www.facebook.com\/cranachblog\/\",\"https:\/\/en.wikipedia.org\/wiki\/Gene_Edward_Veith\"],\"url\":\"https:\/\/www.patheos.com\/blogs\/geneveith\/author\/geneveith\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Tax breaks that have expired as of Jan. 1","description":"Fifty-five tax breaks have expired with the new year.\u00a0 Some are clearly special-interest perks.\u00a0 Others are time-honored staples, such as companies","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.patheos.com\/blogs\/geneveith\/2014\/01\/tax-breaks-that-have-expired-as-of-jan-1\/","og_locale":"en_US","og_type":"article","og_title":"Tax breaks that have expired as of Jan. 1","og_description":"Fifty-five tax breaks have expired with the new year.\u00a0 Some are clearly special-interest perks.\u00a0 Others are time-honored staples, such as companies","og_url":"https:\/\/www.patheos.com\/blogs\/geneveith\/2014\/01\/tax-breaks-that-have-expired-as-of-jan-1\/","og_site_name":"Cranach","article_author":"https:\/\/www.facebook.com\/cranachblog\/","article_published_time":"2014-01-06T10:35:49+00:00","article_modified_time":"2014-01-05T20:48:09+00:00","author":"Gene Veith","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Gene Veith","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.patheos.com\/blogs\/geneveith\/2014\/01\/tax-breaks-that-have-expired-as-of-jan-1\/","url":"https:\/\/www.patheos.com\/blogs\/geneveith\/2014\/01\/tax-breaks-that-have-expired-as-of-jan-1\/","name":"Tax breaks that have expired as of Jan. 1","isPartOf":{"@id":"https:\/\/www.patheos.com\/blogs\/geneveith\/#website"},"datePublished":"2014-01-06T10:35:49+00:00","dateModified":"2014-01-05T20:48:09+00:00","author":{"@id":"https:\/\/www.patheos.com\/blogs\/geneveith\/#\/schema\/person\/f9ca8670bcc51908a78994c0484dbfa1"},"description":"Fifty-five tax breaks have expired with the new year.\u00a0 Some are clearly special-interest perks.\u00a0 Others are time-honored staples, such as companies","breadcrumb":{"@id":"https:\/\/www.patheos.com\/blogs\/geneveith\/2014\/01\/tax-breaks-that-have-expired-as-of-jan-1\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.patheos.com\/blogs\/geneveith\/2014\/01\/tax-breaks-that-have-expired-as-of-jan-1\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.patheos.com\/blogs\/geneveith\/2014\/01\/tax-breaks-that-have-expired-as-of-jan-1\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.patheos.com\/blogs\/geneveith\/"},{"@type":"ListItem","position":2,"name":"Tax breaks that have expired as of Jan. 1"}]},{"@type":"WebSite","@id":"https:\/\/www.patheos.com\/blogs\/geneveith\/#website","url":"https:\/\/www.patheos.com\/blogs\/geneveith\/","name":"Cranach","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.patheos.com\/blogs\/geneveith\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.patheos.com\/blogs\/geneveith\/#\/schema\/person\/f9ca8670bcc51908a78994c0484dbfa1","name":"Gene Veith","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.patheos.com\/blogs\/geneveith\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/054d79faea5d476edd8f99e5f14fb17f?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/054d79faea5d476edd8f99e5f14fb17f?s=96&d=mm&r=g","caption":"Gene Veith"},"description":"Gene Edward Veith, Jr. is a writer and retired literature professor, serving as Provost Emeritus at Patrick Henry College. He has authored over 25 books on Christianity and culture, literature, classical education, and theology. Dr. Veith previously held academic and editorial roles at Concordia University Wisconsin and WORLD Magazine. A respected voice in Lutheran and classical education circles, he holds a Ph.D. in English and several honorary doctorates. He and his wife, Jackquelyn, live in St. Louis and have three children and twelve grandchildren.","sameAs":["https:\/\/www.facebook.com\/cranachblog\/","https:\/\/en.wikipedia.org\/wiki\/Gene_Edward_Veith"],"url":"https:\/\/www.patheos.com\/blogs\/geneveith\/author\/geneveith\/"}]}},"_links":{"self":[{"href":"https:\/\/www.patheos.com\/blogs\/geneveith\/wp-json\/wp\/v2\/posts\/17623","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.patheos.com\/blogs\/geneveith\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.patheos.com\/blogs\/geneveith\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.patheos.com\/blogs\/geneveith\/wp-json\/wp\/v2\/users\/1281"}],"replies":[{"embeddable":true,"href":"https:\/\/www.patheos.com\/blogs\/geneveith\/wp-json\/wp\/v2\/comments?post=17623"}],"version-history":[{"count":0,"href":"https:\/\/www.patheos.com\/blogs\/geneveith\/wp-json\/wp\/v2\/posts\/17623\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.patheos.com\/blogs\/geneveith\/wp-json\/wp\/v2\/media?parent=17623"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.patheos.com\/blogs\/geneveith\/wp-json\/wp\/v2\/categories?post=17623"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.patheos.com\/blogs\/geneveith\/wp-json\/wp\/v2\/tags?post=17623"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}