2 interesting weak dollar data points

[c1ue]

1) It is well hidden, but starting in 2005, the IRS added a nice little deduction for "domestic manufacturing". It starts out at 3% up to the lesser of: (a) qualified production activities income; or (b) taxable income for the taxable year - with the additional limit up to 50% of a taxpayer W-2. It jumps to 6% from 2007 to 2009, then 9% thereafter.

2) It looks like I'm going to get a deal in Russia due to the weak dollar. A lot of the cosmetics industry gets supply from Europe - after all the epicenter of much fashion related industry. The strength of the Euro is affecting profitability, however, so that a distributor came to me looking for a US (i.e. US dollar) source.

To put this in perspective: In 2000, the Euro was roughly equal to the dollar in rouble terms. Today, the Euro is nearly 50% more in rouble terms.

[zoog]

1) It is well hidden, but starting in 2005, the IRS added a nice little deduction for "domestic manufacturing".

My first thought was sitting at home knitting sweaters, selling them on ebay, and claiming a deduction on your personal income tax.:rolleyes:

The IRS introduced the domestic manufacturing credit in 2005 in an attempt to stem the tide of overseas outsourcing. This year the credit is equal to 3 percent of a company's net income. Next year the IRS plans to double the amount to 6 percent. And old-line manufacturing companies aren't the only ones that benefit. The tax break also applies to businesses that make software, music, and films, as well as construction, engineering, and architecture firms and producers of electricity, natural gas, and drinking water.Oh, you really meant domestic manufacturing!:o

[c1ue]

Zoog,

You could qualify, your business model just need to add this:

Make Youtube video of yourself knitting sweater.

Millions view it.

You are deluged by ad money.

Voila, Tax deduction!