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View Diary: Harry Reid says Bain investor told him Romney paid no taxes for 10 years (163 comments)

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  •  Tax losses not the same as real losses (2+ / 0-)
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    madgranny, Creosote

    Through creative accounting (not illegal, just taking advantage of accelerated depreciation and credits and all that fancy stuff), you can squeeze cash out of a business while showing a loss for tax purposes.

    My understanding is that some of the Bain entities are partnerships, so an investor could know what was in the partnership returns that carried over onto each partner's personal return.

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