Word: deductionism
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WORKING MOTHERS, widowers and divorced or separated fathers whose children live with them may deduct the cost of paying somebody to look after children less than twelve years old during working hours. Maximum annual deduction: $600, regardless of the number of children. For working wives living with their husbands, this...
SALESMEN who do their selling outside the employer's place of business may deduct from taxable income the expenses they incur in making or seeking sales-and they can do so even if they take the standard deduction on their tax returns.
HEALTH & CHARITY. Taxpayers may deduct medical expenses in excess of 3% of gross income. The old figure was 5%. A new limitation imposed by the bill is that expenditures for medicines and drugs may be counted as medical expense only to the extent that they exceed 1% of gross income...
Among men, penile cancer is far rarer than cervical cancer among women, but its occurrence follows the same pattern. Dr. Wynder's deduction: circumcision may be a big help in preventing both, presumably because it facilitates personal cleanliness.
By March 1955, the painful business of filling out income-tax forms may become a thing of the past for 35 million U.S. citizens. Internal Revenue Commissioner T. Coleman Andrews suggested last week. Under Andrews' proposed new collection system, the Government will simply send a bill (or a refund...