Word: deductibility
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Dates: during 1960-1969
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...proposals would reduce in various ways the amount of charitable contributions that an individual could deduct from his taxable income. The proposals...
...change a section of the tax laws that permits a taxpayer, under certain circumstances, to deduct as charitable contributions, amounts above the usual ceiling of 30 per cent of annual income...
Kahn has two sons at Harvard. He says jokingly that he will try next year to deduct their college tuition as a business expense, and "on the theory that the Internal Revenue Service always compromises, maybe I'll get one of them." It is the kind of joke one might expect to see next year in the introduction to the newest book on Harvard...
...rank third in the world in G.N.P., after the U.S. and the U.S.S.R., but 20th in per-capita income. One of the secrets of Japan's 11.4% average annual growth rate, compared with the U.S.'s 4.3% during the 1960s, is that Japan permits its businessmen to deduct from their taxes nearly twice as much depreciation as does...
...last week issued a new regulation imposing taxes on the advertising income of the nonprofit journals. The tax will be calculated at the normal rate of 22% of the first $25,000 of taxable ad income, 48% on taxable revenues over $25,000. The publications will be able to deduct a standard $1,000, plus all expenses involved in selling advertising, plus all editorial costs above and beyond the income from subscriptions. A carryover tax deduction will be allowed if there is a net loss due to advertising expenses-but not if a loss is incurred because of editorial expenses...