Word: deduction
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...years. But others are largely symbolic, designed to demonstrate to the middle class that if its taxes are being increased, fat cats who benefited heavily from the Republican tax cuts of the 1980s are being hit much harder. Standout example: a proposed limitation on the ability of companies to deduct "excessive" salaries paid to chief executives and other high officers. Clinton says it would have "relatively small dollar impact ((maybe $300 million the first year)) but great significance to the American people...
...will no longer help prepare pay surveys for the media. But the bullying isn't likely to silence calls for reform. The Securities and Exchange Commission wants corporations to include more detailed pay data in proxy materials, and the Financial Accounting Standards Board plans to force companies to deduct the present value of stock options from reported earnings...
Under the Bush plan, families below the poverty line could receive either a voucher or a credit subtracted from their tax bill. Families with a total yearly income of less than $70,000 would be able to deduct up to $3750 of taxable income for health care or unreimbursed medical bills...
...well," he began, "You take all the money you made during the year, and all your earned income (am I getting it twice?), and from that you deduct charitable contributions and rent, and then you multiply by 0.13 And that should be less than what you are paying...
...individual retirement account (IRA). We figured out what her taxes would be with the flat tax, and it turned out to be more." He laughed quickly. "But not working-class stiffs like us. We'll pay less. And we actually figured out that there were other things she could deduct, so she might pay less...