California makes no allowance for capital gains being taxed lower than income.

FORBES: Seven Tax-Planning Strategies to Dodge the Tax Bullet

Don't subtract capital improvements like adding a bathroom but do subtract an allowance for repairs, including the ones that don't come up every year.

FORBES: I, Landlord

Therein lays one of the key shortcomings of traditional accounting: there is no allowance for a change in the cost of capital in the accountant's methodology, even though it is incredibly relevant to an asset's value.

FORBES: The P/E Problem

The basic facts of the case were that Lord Hanningfield claimed the House of Lords overnight subsistence allowance, payable to peers who have to spend the night in the capital because of their parliamentary duties, even though he returned to his home in Essex every night.

BBC: England