Use of the term Anglo-Saxon begins with Walter Scott, as an adjective meant to differentiate the common people of England from the haughty and oppressive Norman-French aristocracy (the so-called Norman yoke).
Pretax Payroll Deductions. Pretax payroll deductions are qualified deductions that lower your employees' taxable wages. You subtract their contributions from their gross wages before figuring their tax withholding. Some pretax deductions reduce taxable wages for income tax; others reduce taxable wages for Social Security and Medicare taxes.
Exclusion Items include. 1  standard deduction. 2  personal and dependency exemption for regular tax. 3  Medical expenses deductible for regular tax but not AMT. 4  Itemized deductions not allowed for AMT. 5  percentage depletion in excess of adjusted basis. 6  Tax exempt interest on certain private activity bonds.