To state this was the first income tax is not only absurd but ludicrous, unless the author contends that employers who deductfrom their employees pay items required as a term of employment such as meals, uniforms etc. is somehow a form of income tax levied by the government to compensate the employer for such expenses.
In addition, Hawaii is one of a handful of states that has allowed residents to deductfrom their state taxable income the state income and sales taxes they pay.
Next year you'll be able to deductfrom your self-employment earnings 100% of the health insurance premiums you pay, up from a 70% deduction this year and 30% in 1996.
He said it paves the way for residents who were forced to help pay for damages at other New York co-ops the right to deduct those expenses from their federal tax returns.
Of course, all of these exclusions from income come with a price: since life insurance is considered a personal expense, you cannot deductthe premiums you pay for life insurance policies on your federal income tax return.