Word: benefits
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Dates: during 1950-1959
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ANNUITANTS are likely to benefit from a new rule for computing tax exemption on annuities bought by themselves. That portion of the yearly payment equal to the annuity's total cost, divided by the number of years of actuarial life expectancy at the time payments begin, will be permanently taxfree. Under the old rule, the yearly payment was taxable up to 3% of the total cost, and when the annuitant had recovered the cost taxfree, the entire payment became taxable. Persons already receiving annuity payments may convert to the new formula, but in computing the exemption, they will have...
INVENTORS, too, may now spread income from work that took up no more than 24 months. Furthermore, Congress stretched the maximum spread-back period on invention income from 36 months to 60. Professional inventors also benefit from extension of a rule that formerly applied only to amateurs: they may now count income from patent transfers as capital gains rather than regular income...
RESEARCH EXPENSES may now be deducted in the tax year in which they are incurred. Previously, such year-by-year deductions (instead of amortization over several years) were allowable only for research carried out under a permanent research or development program. Thus the change will benefit mostly small companies that lack capital or facilities for permanent programs...
...supervision, later for the Communists as an agricultural adviser. Since then, he has been touring the U.S. as a free-lance lecturer. Last week Hinton got a letter, enclosing a subpoena, from Indiana's Senator William Jenner. It said: Come to Washington and give the U.S. Senate "the benefit of your experience...
...growing fad of self-imposed low-salt dieting, the Illinois State Medical Society warned that the diets are futile as weight reducers and are a serious danger to health, especially in summer weather, when body salt is already depleted through excessive perspiration. "The only persons who might [benefit] from such a diet," said the society, "are those seriously ill of heart or kidney diseases [and who are] under the constant care of a physician...