Word: deduction
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Dates: during 1950-1959
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Since 1936 corporations have been able to donate tax-free five percent of their income before taxes to assist educational, scientific, and welfare activities and organizations. This means that a company has only to use $1 of its final net profits in order to deduct $1 from its tax liability to the government...
...such major decision since the freeze. It found that Hedin's bricklayers got $3 an hour for working on a Veterans Administration hospital when WSB regulations allowed only $2.75. The commission ruled that Hedin must pay federal income taxes on the $40,000, and ordered the VA to deduct the sum from its contract with Hedin. WSB is investigating 267 other companies in New York and New Jersey suspected of paying wages above the legal ceiling...
Everyone hates to pay taxes and the new increase isn't going to make anyone any happier, but perhaps if a blood donor were permitted to deduct say $25 from his income tax each time he was a donor, it would make him a little happier tax-wise and also make him feel he was contributing a little more than his dollars to the war effort...
According to John W. Holt, director of Student Employment, from new on faculty members who employ students--even in the capacity of baby sitters--for more than 20 1/4 hours per quarter must deduct 1 1/2 percent from their employees' wages, add an equal sum, and forward the total to the federal government...
...singing, but he had a friend who was: Bing Crosby. Bing, a pheasant-hunting crony of Welker's for 15 years, took time out from his Idaho vacation to sing the praises of Welker Republicanism. Crosby spread a Republican dinner for his pal, saying he hoped to "deduct it from my income tax, and make the Democrats pay for it." Said Crosby...