A special needs trust is a way to provide for a disabled person without making him/her ineligible for government benefits (such as Supplemental Security Income). The costs of setting up such a trust, just like the cost of writing a will, usually are not tax deductible. They are viewed as a nondeductible personal expense. However, to the extent that the attorney specifies the portion of fees related to tax advice, the portion can be deducted as a miscellaneous itemized deduction.
A statutory method of depreciation allowing accelerated rates for most types of property used in business and income-producing activities during the years 1981 through 1986. It has been superseded by the modified accelerated cost recovery system (MACRS) for assets placed in service after 1986.