Asbestos is found in rocks and soil. These mineral fibers have worked well for manufacturers for many reasons. For starters, theyâre flexible and resistant to heat, chemicals, and electricity. Thatâs why they were widely used for years to make construction materials, automotive parts, and even textiles.
A tax expenditure program is government spending through the tax code. Tax expenditures alter the horizontal and vertical equity of the basic tax system by allowing exemptions, deductions, or credits to select groups or specific activities.
What is an 'Expense'. An expense consists of the economic costs a business incurs through its operations to earn revenue. Businesses are allowed to write off tax-deductible expenses on their income tax returns to lower their taxable income and thus their tax liability.