Word: deductionism
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The legislation phases in an income tax deduction of $2,500 a year for the first 60 months of payments. The deduction is phased out for individuals with annual incomes above $50,000.
"We were very much in favor of the student loan interest deduction and the loan forgiveness provision," she said. In the past, when private institutions forgave student loans, the money was treated as taxable income for the individual.
IRAs When IRAs were first created, savers could take a deduction of up to $2,000 on money put into an account that paid tax-deferred interest. Since then, changes in the law denied single people with incomes above $40,000 ($50,000 for couples) a deduction on the principal...
The concluding sentence of the previous paragraph would serve well as the thesis for a perfect essay--which should always be the first sentence of the essay--since it is a logical deduction that can be proved by evidence. The reader will appreciate clarity and simplicity in both the thought...
With the tax bill squared away, the White House gets nervous WASHINGTON, D.C.: It was a very happy day on the Hill as Congressmen flush with funds from a surging economy got to play Santa in the form of a $135 billion tax cut package, the largest tax relief in...