TITLE

College Professors and Income Taxes

AUTHOR(S)
Jacobson, Sol
PUB. DATE
March 1964
SOURCE
Journal of Higher Education;Mar1964, Vol. 35 Issue 3, p121
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The article focuses on the relationship of income taxes with college professors in the United States. Every taxpayer must pay taxes and they have the right to reduce or avoid their taxes. Only some parts can be deducted from gross income to arrive at the net income. In 1950, a court decision allowed the deduction of certain educational expenses so that the income taxes will be lower for college professors. An educational expense cannot be deductible if the expense is for the fulfillment of general educational aspirations. The exemptions benefit the college professors who are continuously taking their education. The expenditure from travel, even if it is for education, will be considered as a personal expenditure thus tax will be deducted to the professors.
ACCESSION #
21500922

 

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