Word: deductible
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Dates: during 1930-1939
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...John Jacob Astor, a fat young man with a fat income and no job, was entitled to deduct $5,163 for "business expenses" on his income-tax return was something the Government did not understand. His explanation: "The collection of income is the business conducted by the petitioner . . . and the expenses of such trade or business are proper deductions from the petitioner's income." The Government's answer...
From gross income you may exclude alimony, damages collected for breach of promise, alienation of affections, libel or slander. You may deduct money spent to get a job, automobile expenses (including fines for negligent driving), the cost of dental work to replace teeth knocked out in pursuit of duty, money spent on unsuccessful inventions...
...deduct National Guard fees, graft money, expenses of lobbying for legalized horse racing, contributions to birth-control or anti-saloon leagues; nor can you deduct money spent in preparation of your income tax return...
...Security" you state, "instead of upping the present tax rates of 1% on employer and 1% on employe . . . the Council advised calling a halt for 'further study' after they have been upped to 1½% January 1." Is TIME Inc. going to start January 1, 1939 to deduct 1½% from its employes' payroll checks...
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...