Word: deduction
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...Limiting deductions that individual taxpayers may take for interest. Carter has dropped any idea of ending the popular deduction for interest on home mortgage loans. But he is considering placing a ceiling on the total amount of interest-on mortgage loans, car-purchase loans, department-store charge accounts-that a taxpayer can deduct...
...Cabinet Room is almost untouched from the days of Richard Nixon, his huge mahogany table-which he tried unsuccessfully to deduct from his income taxes-still the arena of crucial Executive debate. The room is a public forum. There is little that is personal there...
...fiery speeches like he'd seen out in California. He picked his favorite target, the other Chicano on the floor--a rich kid from L.A. whose father owned a big factory that built tanks and had put him on the company's board of directors so he could deduct his flights back home. One time Paco heard the rich kid had gotten into a special seminar on the working class in America, which was more than a bit funny because Paco had always said the rich kid thought Manual Labor was one of his cousins from Baja California. So Paco...
...practice has been to defeat the union, pay the fine later, and deduct it from its taxes as a business expense. Violating the law is cheaper than signing a contract with the union...
Workers who relocate this year will be allowed to deduct up to $3,000 in expenses that they pay themselves-like the cost of finding a home in a new city-v. $2,500 on those returns being filed now. Even these changes will not be the last, or the loudest, word on tax reform: President Carter has promised far more fundamental proposals by this September...