Word: deductionism
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For TIME Canada and Reader's Digest to qualify as Canadian magazines under the new bill, and thus afford advertisers the advantage of a tax deduction, they would have to be 75% Canadian-owned, show editorial content "substantially" different from their parent editions, and demonstrate that their editorial control...
However, Harold Rosenwald '27, the attorney for HSA, said yesterday that past profits were so small that the taxes due on them would be negligible. The primary concern of management, he said, is that under the new ruling gifts to the HSA would no longer gain the donor a tax...
The ruling would also force all donors to HSA who took a tax deduction on their gift in the last five years to recalculate their tax returns, he said.
2) To get stamps, a family (or single person) would have to pay a uniform 30% of their net income minus a flat $100 monthly deduction. Example: a family with a monthly net income of $300 would take the deduction, leaving it with $200; of this, it would have to...
¶ Establish a uniform standard deduction of $1,800 for single individuals and $2,500 for married couples not itemizing deductions. Currently this deduction varies as a percentage of income, with a maximum of $2,300 for single people and $2,600 for couples.