The phrase 'net of deductions' is correct and usable in written English.
You can use it when referring to a payment or amount remaining after any deductions or expenses have been taken into account. For example: "My salary for this month is $2,500 net of deductions."
Since 1999 deductions for family size have been applied directly to taxable income, and the tax liability is calculated for household income net of deductions.
Before the current uncapped season, the CBA required teams to pay players no more than 60% and not less than 56% of league revenue, net of deductions for capital expenditures and a portion of local revenue.
The pledge states not only that signers will oppose hikes in marginal income tax rates, but also that they will "oppose any net reduction or elimination of deductions and credits, unless matched dollar for dollar by further reducing tax rates".
The slip, which would become part of the public record, would disclose a person's or corporation's name, address, gross income, amount of deductions, net income and tax liability.
"I pledge to taxpayers... and to the American people," it reads, "that I will: one, oppose any and all efforts to increase the marginal income tax rate for individuals and business; and two, oppose any net reduction or elimination of deductions and credits unless matched dollar for dollar by further reducing tax rates".
The pledge, written in 1986, is a simple document: it binds the signer to "oppose any and all efforts to increase the marginal income tax rates for individuals and/or businesses," and "to oppose any net reduction or elimination of deductions and credits, unless matched dollar for dollar by further reducing tax rates".
The Taxpayer Protection Pledge, which has been signed by almost all of the Republicans in Congress, commits the politician to "oppose any and all efforts to increase the marginal income tax rates for individuals and/or businesses" and to "oppose any net reduction or elimination of deductions and credits, unless matched dollar for dollar by further reducing tax rates".
However such a deal was structured, it would almost certainly violate Norquist's pledge, which commits its signatories to "oppose any and all efforts to increase the marginal income tax rates," and also to "oppose any net reduction or elimination of deductions and credits, unless matched dollar for dollar by further reducing tax rates".
"I, Scott Brown, pledge to the taxpayers of Massachusetts and to the American people that I will: ONE, oppose any and all efforts to increase the marginal income tax rates for individuals and/or businesses; and TWO, oppose any net reduction or elimination of deductions and credits, unless matched dollar for dollar by further reducing tax rates".
The pledge is a promise to voters to "ONE, oppose any and all efforts to increase the marginal income tax rate for individuals and business; and TWO, oppose any net reduction or elimination of deductions and credits, unless matched dollar for dollar by further reducing tax rates".
One who wrote me had calculated her monthly obligation net of the tax deduction on the mortgage interest, and fell behind on her payment because her tax saving did not become available until year-end.
