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mLine 70:
Line 70: − − ==Anecdotes== − Film actress Betty Grable, whose films grossed over $100 million, was the most famous pin-up girl of GIs during World War II and the highest paid [[Hollywood]] star. Her employer, Twentieth Century Fox studios, insured her legs as a capital asset with Lloyd's of London for $1,000,000, the premiums of which were a legitimate deductible business expense. [[Ronald Reagan]], like Grable was also paying the top personal [[income tax]] rate of 92% during the [[New Deal]]. As Reagan aged and his face wrinkled, his ability to earn income diminished, but he was disallowed from depreciating the value of his primary capital asset - his face - against income. Reagan took up another career - politics - with a desire to reform an inherently flawed and unfair tax system.
→Anecdotes
However, these methods are generally not allowed for financial reporting purposes at publicly-traded companies; therefore, the company has to maintain two separate sets of depreciation records.
However, these methods are generally not allowed for financial reporting purposes at publicly-traded companies; therefore, the company has to maintain two separate sets of depreciation records.
==Notes==
==Notes==