Word: deductible
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Dates: during 1930-1939
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Confusing moral which uplifted youngsters might deduct from this camel's tale was: Never be bumptious but never fail to be bumptious when you ought to be. Chances seemed even that many a young reader, stifling a yawn and an out-of-step feeling that Author Boyle's camel was not only a dromedary but an allegory, and too consciously cute, would leave the book where their less jaded elders would be sure to find and enjoy...
...provision to carry over net business losses and deduct them from business profits of future years. "A business with alternating profit and loss now pays higher taxes over a period of years than does a business with stable profits although the average income of the two firms may be equal...
Last week, as a "final offer," the operators' spokesmen proposed not only to continue checking off (i. e., collecting) the dues of Lewis miners, but to deduct an equal amount from nonmembers' paychecks as well and hand it over to the union. In addition, they would promise to deal only with the Lewis union in so far as the Wagner Act permits. John Lewis pondered it, finally agreed with his own lawyers that it was probably illegal...
...article claims you can deduct alimony monies that you pay from your gross earnings...
...Bone apparently failed to take into account that many States do not allow taxpayers to deduct Federal taxes in figuring their State income tax. Bone, Nye & Co. proposed such wartime tax rates that many top-bracket taxpayers would find their total taxes all but swallowing their net income (but not exceeding it, as newspapers reported last week). In New York, for example (which has a State tax graduated up to 7% plus a 1% emergency tax), a $500,000-a-year man in a war year would have to pay Federal and State income taxes totaling...