Sentence examples for deductions to avoid from inspiring English sources
Some wealthy Americans are still able to scrape together enough deductions to avoid paying any Federal income tax, the Internal Revenue Service said today.
The AMT was put in place in the 1980s as a way to prevent wealthier Americans from using tax deductions to avoid paying taxes.
Additionally, Mr. Thompson favors abolishing the alternative minimum tax, which was created to make sure that the wealthiest Americans did not use loopholes and deductions to avoid paying their share of taxes.
Ms. Milton drew a comparison to the alternative minimum tax — a tax modified in 1986, supposedly as a way to keep affluent people from using deductions to avoid paying taxes.
Millions would find themselves subject, for the first time, to the alternative minimum tax, designed to ensure that wealthier Americans do not use deductions to avoid paying the basic minimum in taxes.
The judge, Janet Bond Arterton of Federal District Court in New Haven, ruled in a civil action that Long-Term Capital, the huge hedge fund that collapsed in 1998, acted in bad faith for the two years before its meltdown, when it took $106 million in tax deductions to avoid paying $40 million in taxes.
[C15.] Judge Rules Against Tax Shelter A federal judge ruled that one company's tax shelter was a sham and noted that 85 other large corporations used the same deduction to avoid paying $6 billion in taxes.
Some of these people were viewed as using the charitable deduction to avoid most of their taxes, So some philanthropy began to look like just a cynical tax dodge.
A federal judge in Delaware, in a decision made public yesterday, held that one company's corporate tax shelter was a sham and noted that 85 other large corporations used the same deduction to avoid paying $6 billion in corporate income taxes.
Much of the coverage of the leaked returns has concerned whether Mr. Trump was able to use the net operating loss deduction to avoid paying federal income tax for nearly two decades.
Those deductions allow Americans to avoid taxes on money they pay in interest on their homes, along with any donations they make.
