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Gah, this hinges on the difference between a cash flow statement and an income statement. Depreciation is a cost but not a cash outlay...

Keynesianism is intellectually hard, as evidenced by the inability of many trained economists to get it - Paul Krugman
by Migeru (migeru at eurotrib dot com) on Wed Jan 26th, 2011 at 11:10:40 AM EST
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Don't follow you on cash flow. Annual taxation is based on (roughly speaking) income minus costs ie the income statement.
by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 26th, 2011 at 11:31:25 AM EST
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There ARE considerations other than the tax benefit, though one would hardly know it from the discourse in the business sections of the popular press. Double entry what?

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Thu Jan 27th, 2011 at 03:30:14 PM EST
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