Word: deductionism
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Dates: during 1990-1999
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But there's hope, a fresh alternative to the tawdry holiday present: gifts marketed by nonprofit organizations, with proceeds from these purchases going toward either the organization's general cause or a charitable service performed on the donor's behalf. Savvy holiday shoppers with a socially conscious heart often turn...
By 2001 the federal government will have more than doubled the maximum deduction for student loan interest.
Through 1998, only $1,000 was deductible from federal income tax. This year, the maximum deduction is $1,500 and by 2001 it will be $2,500, about the amount of interest on a $30,000 loan that charges 8 percent interest. The deductions only apply during the first five...
When House and Senate leaders met to reconcile their separate budgets, the interest deduction plan was worked into the final legislative budget without any changes.
The state estimates that the tax deduction will cost the Massachusetts government about $6 million per year.