Tax Deductions for Charities under the Act in 1920
Washington details tax rules for charitable donations. Individuals may deduct gifts to religious charitable scientific or educational bodies up to 15 percent of net income. Deductions are not allowed for corporations or partnerships except allocations to individuals, within limits. Gifts to individuals are not deductible unless channeled through qualified organizations. Donations tied to campaign expenses are prohibited. Corporate gifts to charities for business benefits may be deductible as ordinary and necessary expenses.
MENTIONED IN THIS ARTICLE
Washington, D.C
Treasury
Tax rules on charitable deductions clarified
Tax guidance states that only actual contributions are deductible and future promises do not count. The rule applies to gross income calculations and excludes anticipated donations from current-year totals.
Park Commission Created for Cedar Heights Beauty Spots
Cedar Heights voters approved establishing a park commission after a council dispute over shade trees and a proposed town deed of the park land. William Galloway backed the plan to place parks and wooded areas under a permanent body to care for and improve them. The ordinance passed all readings and the measure carried by a large majority with only 14 opposed. The next step is appointing park commissioners by Mayor W. F. Parrott.
MENTIONED IN THIS ARTICLE
Cedar Heights
Ark Commission
William Galloway
Waxver
W. F. Parrott
Community Stores Faces Bankruptcy Petition in Iowa
A petition filed by Minneapolis wholesale firms Butler Bros W B and W G Jordan and W J Jennison seeks to have the Estherville Iowa based Community stores adjudged bankrupt. Claims total about 59000 with specific debts listed to Shenandoah and other towns. The filing notes consignment payments and secret storage at Council Bluffs and Creston and states insolvency admits. The petition will be sent to Fort Dodge federal court.
MENTIONED IN THIS ARTICLE
Fort Dodge
Butler Bros
W. B
W. G. Jordan
W. J. Jennison
Minneapolis
Jordans
Jennison
L. S. McCracken
Shenandoah
Wausau Overall
Wausau
Wis
F. B. Shanewise
Waverly
Washington Creamery Company
Itg
Council Bluffs
Creston
Estherville
Bolton
Heat of Red Peppers Stops Rheumatic Pair
The ad promotes Red Pepper Rub as a fast remedy for colds congestion and rheumatic pain. It claims penetrating heat eases chest tightness and muscle soreness quickly and safely. The copy emphasizes immediate relief from congestion and stiffness.
Also Mentioned on This Page
TAX Deductions Act Charities
Community Stores Company
Dr. Caldwell
U. S
Adeeerail
Nak B
Caldwell
Washington Street
Monticello
Ilinois
Florida
Florida Citrus Exchange
Citizens Bank
Tampa
Luda
Percy BR. Wood
Reatin & Johnson Bank
Waterloo
Iowa
DR. Waterbury
Edwin T. Jaynes
Franklin St
Gibson Furnace Co
L. E. Glaza
Victor Records
Stroebel’s
Nature
Scott
Scott & Bowne
Bloomfield
N. J
Independence
Potson Kerwin
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