Word: deduction
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...compromise solution that both businessmen and Government tax lawyers are exploring is a more liberal depreciation rate, which would let any expanding company deduct up to 50% of the cost of any new asset in the first five years. While such a program might not satisfy heavy industries, it would at least ease some of the pressure of increasing obsolescence and spiraling inflation, though some critics argue that it would bring a temporary tax loss for the Government. After a study of tax write-offs, Virginia's Senator Harry F. Byrd, chairman of the Senate Finance Committee, says that...
...emphasizes that taxpayers can deduct payments to the State from income on their federal tax returns...
...powerful National Education Association appealed to Presidential Candidates Eisenhower and Stevenson to give teachers the same tax breaks as other professionals. The N.E.A.'s argument: if a lawyer goes to a legal seminar or tax institute, he can deduct his expenses; the same goes for a doctor or dentist attending a medical convention. But in all but a few cases, teachers who go to summer school can deduct nothing. "It is just as important," said the N.E.A., "for teachers to continue their professional development as for doctors and lawyers to keep up with new medical techniques or legal interpretations...
...dash for the most copy in the least amount of time, gross errors have been spotted. There is no definite count of the number of times Williams spat at the crowd. The number ranges between two and four. Tax experts are not sure whether he can or can not deduct the fine from his income tax return. The New York Herald Tribune quotes a tax expert as saying that the assessment could be deducted since it is not a league penalty. But the United Press came out quoting a different expert, stating that there is "no way Ted can deduct...
...Deductible Comfort. Air-conditioning manufacturers, who do something about the weather as well as complain about it, say that hot and cold spells still throw seasonal estimates out of kilter; e.g., demand rose 200% during a six-week heat wave last July and August. But the trend to bigger, more expensive units has sharply reduced impulse buying. Government agencies also have boosted non-seasonal equipment sales. For example, the Federal Housing Administration recently approved inclusion of central air-conditioning in basic home-mortgage loans. The Internal Revenue Service permits sufferers from hay fever, asthma and heart disease to deduct...