Word: deductionism
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For millions of Americans, last week was the final chance to cash in on one of the greatest tax breaks of all time: the Individual Retirement Account, or IRA. Since 1982, when IRAs became available to all workers, some $320 billion has been stashed away by 28 million households in...
Under the rules that expired on April 15, virtually all taxpayers in the 87 million U.S. households could take a deduction on their IRA contributions of up to $2,000 a year; they pay no income taxes on their investments until they retire. Now only single taxpayers earning $25,000...
Still, Americans find it difficult to sympathize with public officials whose income is already five times the national average. Moreover, Consumer Activist Ralph Nader points out that Congress pocketed an automatic pay increase of $2,500 on Jan. 1; in the last session, the members voted themselves a $3,000...
The federal reform is expected to have an impact on most of the 43 states (plus the District of Columbia) that levy some form of personal income tax. * The added state taxes will result from the common practice among state authorities of using federal tax rules -- including deduction guidelines -- as...
, Just make sure you save a few for Learning-Window, a computer introduction toy that offers 13 different activities as well as a voice module and three additional cartridges. It is meant for children ages six and older, but parents will also be intrigued with the variety of math, language...