Word: deductable
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When Lloyd Wilson of San Francisco, publicity man for the Y.M.C.A., made out his income tax for 1936, he wondered how much to deduct for his baby daughter, Helen. Had she been born in January of that year he would have deducted the full $400 allowance for a dependent. But she had been born in August. That certainly entitled him to deduct five-twelfths...
...lodged stiff protests in Berlin. Britain, however, was the only power in a position to bring the Reich to any sort of terms. Since Britain annually buys $49,440,000 more goods from Germany than she sells, all she had to do was to clamp on exchange clearing control, deduct the debt payments from British money owed German exporters. Germany acted before this got beyond the threat stage...
This last phenomenon was deduced by my 12-year-old son in 78 seconds flat and for his sluggishness I will deduct 10? from his weekly allowance...
...will attempt to unsnarl her tangle by selling more abroad, particularly to Great Britain, but British financial interests, which stand to lose most on the Austrian loans, are unlikely to accept such a solution until the loans are settled. Britain holds an ax over the Reich because she can deduct German debts from the money Britons owe German exporters. Last week, the potent Association of British Chambers of Commerce urged that the exchange clearing bill, passed in 1934 but never implemented, be enforced. But as such a move would blight Prime Minister Neville Chamberlain's present hopes...
...Year's Eve, 1932, the Delmars drove from Hollywood to Agua Caliente, lost so much gambling at the Casino that they had to borrow money for gas to drive home. When they came to file their joint income tax return for 1933, Eugene remembered to deduct the $1,200 he had lost at chemin de fer, Vina the $300 she lost at roulette. Under the Revenue Act of 1934 this posed the problem as to whether the Delmars had undertaken their gambling for recreation or profit. Called before the Board of Tax Appeals, chunky Eugene insisted he had gambled...