Word: deductionism
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Consider charitable donations of assets that have greatly appreciated. You can take a full deduction for the market value of the asset, yet skip the capital-gains tax. If you aren't sure which charity you want to favor and you're giving cash, consider establishing a gift fund to...
Bradley assumes that among those not eligible for a subsidy, millions will buy insurance because his plan would give them a tax deduction for the amount they pay in premiums. That may be doubtful. Even after Bradley's tax break, a family of four making $50,000 would still have...
LEMON WATCH Donating your clunker to charity? Beware of ads promising "full Blue Book" value deductions regardless of condition; you may be giving your car away to for-profit companies that team up with or pose as charities. Red flags include handing the car over to someone with no visible...
In a nutshell, the meaning is this: the government should achieve desirable goals by creating incentives for private individuals and organizations, primarily in the form of tax cuts. Much of Bush's $8 billion would be used to expand the charitable deduction, provide "new incentives" for corporate giving and so...
But the administration does oppose the IRA deduction for charitable contributions, the establishment of private prepaid tuition plans and--most vehemently--a portion of the ESA reform that would allow for deductions to be spent on K-12 education.