Tax definitions C

What is means Property Community Definition shares to a husband and wife. This concept of ownership for property acquired after marriage is followed in Arizona, California, Idaho compare definition
What is means Award Condemnation Explain Payment in money or replacement property that is received for property condemned by a government authority why definition
What is means Cost What is Cash and/or the value of property given to acquire the property received how better definition
What is means Receipt Constructive Meaning income only as it is received. But if the income was unreservedly subject to his or her demand and he or she could have received it but when definition
What is means Casualty Abbreviation The complete or partial destruction of property resulting from an identifiable event of a sudden, unexpected, or unusual nature determines definition
What is means Income Community How to community property state, that is considered to belong equally to each spouse, regardless of which spouse receives the income. The comparing to definition
What is means Expenditure Capital Help useful life of more than one year that increases the value of or extends the useful life of the asset. Capital expenditures generally may depends on definition
What is means Credit Tax Child Crossword child under age 17 at the end of the tax year. The credit may be refundable for taxpayers with three or more children eligible for the which definition
What is means Asset Capital Examples capital assets except those specifically excluded by the tax Code. Major categories of noncapital assets include property held for resale difference definition
What is means Cladr Encyclopedia See Class Life Asset Depreciation Range when definition
What is means Callable Information about be redeemed before maturity by the issuing corporation under specific conditions. The term also applies to preferred shares of stock, which pros and cons definition
What is means Child and Dependent Care Credit Tutorial employment-related child and dependent care expenses for up to $6,000 of expenses is available to individuals who are employed and maintain similarities definition
What is means Corporation Error is incorporated under the laws of a state, a foreign entity that is treated as a corporation under IRS regulations, or an unincorporated how much definition
What is means Stock Common Answer corporation that are entitled to residual dividends, after bonds and preferred stock have first received interest and dividends. A common how many definition
What is means Year Calendar Means what A year that begins January 1 and ends December 31 compare definition
What is means Change in Accounting Period Description another. Income for the short period created by the change must be annualized to calculate the tax for that period why definition
What is means Commuting Definition Traveling from one's residence to one's regular place of business and back to the residence how better definition
What is means Price Contract Explain one of the amounts used to compute the percentage of each principal payment that is taxable as gain. The contract is equal to the gross when definition
What is means Call What is An option to purchase a security at a fixed price within a specified period of time determines definition
What is means Expenses Convention Meaning convention are deductible if the meetings are related to a taxpayer's trade or business or job-related activities. If, however, the comparing to definition
What is means Class Life Asset Depreciation Range (CLADR) Abbreviation A system of depreciation used to depreciate assets placed in service prior to January 1, 1981 depends on definition
What is means Capitalize How to To treat the cost of additions and improvements to property as a capital improvement or expenditure which definition
What is means Bond Coupon Help The coupons are clipped as they come due and are presented by the bond holder for payment of accrued interest difference definition
What is means Certificate Crossword The actual piece of paper that is evidence of ownership of stock in a corporation when definition
What is means Gain Capital Examples The gain from the sale or exchange of a capital asset pros and cons definition
What is means Payments Support Child Encyclopedia divorce decree, or other legal obligation for the support of a taxpayer's child. Payments for child support do not constitute alimony similarities definition
What is means Parent Custodial Information about The parent with whom a child lives for the greater part of the year how much definition
What is means Distributions Gain Capital Tutorial investment companies, and real estate investment trusts that represent the shareholder's portion of gain from the sale of capital how many definition
What is means Loss Capital Error capital asset. Up to $3,000 ($1,500 if married and filing a separate return) of net capital loss is deductible annually with the excess compare definition
What is means Right Of Claim Answer some cases, claim a credit for amounts the taxpayer is required to repay that the taxpayer included in income in a prior year or years why definition
What is means Carryover Carryback Means what certain losses or credits to be used in a tax year other than the tax year incurred. A carryover is to a future year. A carryback is to a how better definition
What is means Cost or Market, Whichever Is Lower Description inventory valuations. Most taxpayers prefer to use "cost or market, whichever is lower" as a basis for valuing their inventories when definition
What is means Structure Historic Certified Definition Register of Historic Places or located in a designated historic area. The IRS Code provides tax incentives for the rehabilitation of such determines definition
What is means Doctrine Equivalent Cash Explain not report income until cash is constructively or actually received. Under the cash equivalent doctrine, cash-basis taxpayers are required comparing to definition
What is means Commission What is selling securities or property for a client. An allowance paid to a salesperson or agent for services rendered depends on definition
What is means Loss Casualty Meaning destruction of property resulting from an identifiable event of a sudden, unexpected, or unusual nature. Examples are floods, storms, fires which definition
What is means Cost of Goods Sold Abbreviation purchases, direct labor costs, and overhead costs less withdrawals for personal use and ending inventory. Sole proprietors compute their difference definition
What is means Year Closed How to limitations has expired. The taxpayer can't claim a refund and the IRS can't collect additional taxes (with certain exceptions when definition
What is means Futures Commodity Help Contracts to buy or sell a fixed amount of a commodity (wheat or soy beans, for example) for a fixed price at a future date pros and cons definition
What is means Convertible Crossword under specified conditions, be exchanged for common stock or another security, usually of the same corporation similarities definition
What is means Recovery Cost Examples depreciation claimed under the ACRS or MACRS methods of depreciation. See also Accelerated Cost Recovery System (ACRS) and Modified how much definition
What is means Plan Cafeteria Encyclopedia choice of salary or specified nontaxable fringe benefits from which participating employees may select. The plan may be funded with how many definition
What is means Depletion Cost Information about 039;s investment in natural resources or timber. The cost is recovered proportionately as the resource is extracted or the timber harvested compare definition
What is means Cost Method of Inventory Valuation Tutorial year at cost; that is, the invoice price less any discounts plus transportation or other costs incurred in acquiring the merchandise why definition
What is means Child Error includes the taxpayer's son, duaghter, stepchild, eligible foster child, or a descedant of any of them, or an adopted child. It also how better definition
What is means Change in Accounting Method Answer another, which usually requires prior approval from the IRS. A change generally requires adjustments to avoid omissions or duplications when definition
What is means Stock Capital Means what Shares of stock that represent ownership of a portion of the corporation determines definition
What is means Coverdell Education Savings Account (ESA) Description any number of taxpayers may contribute up to a total of $2,000 per year per eligible beneficiary. Contributions are nondeductible. Earnings comparing to definition
What is means Condemnation Definition authority. The property is condemned as the result of legal action and the owner is compensated by the public authority. The power to depends on definition
What is means Cost of Maintaining a Home Explain taxpayer's residence. These costs include rent or mortgage interest and real estate taxes, fire and casualty insurance on the dwelling which definition
What is means State Law Common What is property rights are based on British common law. The property and income of each spouse belongs to him or her separately difference definition
What is means Copyright Meaning The exclusive legal right to sell, reproduce, or publish a literary, musical, or artistic work when definition
What is means Compensation Abbreviation Wages, commissions, tips, professional fees, and net self-employment income received for services rendered; that is, earned income pros and cons definition
What is means Cash Method of Accounting How to accounting, the other of which is the accrual method defined elsewhere in this glossary. Under the cash method of accounting, income is similarities definition
What is means Improvement Capital Help useful life of a property or add to its value. Major repairs such as the replacement of a roof are capital improvements. The costs of how much definition
What is means Contributions Charitable Crossword qualified charitable organization. Such donations are deductible, subject to income limits, on Schedule A as itemized deductions how many definition

Tax explained and meaning

What does it do? Descriptio of tax definitions.

Define Charitable Contributions definition Capital Improvement explain Cash Method of Accounting what is Compensation meaning Copyright abbreviation Common-Law State. definition.

Explain Community Property definition Condemnation Award explain Cost what is what.