Word: loaned
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Dates: during 1970-1979
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Louis lawyer reduced his taxable income in 1975 to $29,000. Because a Los Angeles taxpayer bought 300 head of cattle for $45,000 and borrowed $75,000 from a bank through a cattle-feeding loan program, he will be able to deduct about $55,000 from his projected gross income of $160,000 this year. Other tax shelters include silver options, oil leases, movie financing and sport franchises. These are all chancy businesses, and the tax breaks were set up to encourage investment in them...
Pavlovich's wife Monette, a Harvard Business School student who went under the alias Cary Monica Cabot, was arrested in January on similar charges. She was convicted over the summer in New Orleans, placed on probation and required to repay a $1250 Harvard loan...
...This is clearly an attempt by the government to help middle ncome familizs," R. Jerrold Gibson '51, director of fiscal services, said yesterday. A family that becomes eligible for the interest subsidy under this law and borrows $1200 per year for four years (an average loan) will save $840 in interest, he said...
Gibson added that 90 to 95 per cent of the students who now take out loans will be eligible for the government subsidy. Now, about 70 per cent of all loan-takers are eligible for subsidies...
...Burroughs 500 computer terminal that is plugged into Alabama and FBI crime information centers. Near by is a $30,000 radio console. Parked outside are eight patrol cars, a two-tone green 1976 van and a shiny motorcycle. Last week Turner was cruising about in a helicopter on loan from a federal civil defense program. The sheriff has also spent half of his grant money to train his staff, which has grown from three to 17 deputies-including two blacks...