Tax definitions S

What is means Student Loan Interest Deduction Definition paid during the year on qualified higher-education loans. The deduction may be limited if income exceeds a specified amount. See http://www compare definition
What is means Wages Security Social Explain Total wages paid to an employee that are subject to this tax. This amount does not include tips. Wages are also subject to Medicare tax why definition
What is means Deduction Standard What is lieu of itemized deductions. A taxpayer whose gross income is not more than the sum of the standard deduction and exemptions generally does how better definition
What is means Plan Retirement Simple Meaning incentive match plan for employees retirement plan. A SIMPLE plan can be either an IRA for each employee or a cash or deferred arrangement when definition
What is means Section (followed by a number) Abbreviation The section of the tax Code in which particular laws are given determines definition
What is means Support How to an individual. Support includes food, lodging, and other necessities as well as recreation and other nonessential expenditures. Support is comparing to definition
What is means Statements Help deductions, and/or credits reported on a schedule or directly on Form 1040. Statements may or may not be official IRS forms depends on definition
What is means Property 1231 Section Crossword depreciable assets and real estate used in a trade or business and held for more than one year. Under certain circumstances, it also which definition
What is means Section 179 Expense Deduction Examples certain qualified property as a currently deductible expense rather than as a capital expenditure. This is also referred to as expensing difference definition
What is means Business Service Encyclopedia A business in which income is produced chiefly by personal services rendered when definition
What is means Child Needs Special Information about determined by the state to be difficult to adopt due to factors such as racial or ethnic background, age, a condition that requires special pros and cons definition
What is means Individuals Employed Self Tutorial decide when, how, and where to work, obtain their own jobs or sales, pay their own expenses, and receive social security and Medicare similarities definition
What is means Single Error The filing status used by an unmarried taxpayer who does not qualify for any other filing status how much definition
What is means Plan 125 Section Answer See Cafeteria Plan how many definition
What is means Schedules Means what Official IRS forms used to report various types of income, deductions, and/or credits compare definition
What is means Sep Description See Simplified Employee Pension why definition
What is means Ira Spousal Definition spouse has little or no compensation for the benefit of that spouse. The designation "spousal" is significant for tax purposes how better definition
What is means Trade In Stock Explain Property held primarily for sale to customers in the ordinary course of business when definition
What is means Split Stock What is to shareholders at no cost. The number of shares received are a ratio of the shares owned. The basis of the original shares is generally determines definition
What is means Social Security and Medicare Taxes Withheld Meaning The employee's share of these taxes that was withheld and submitted along with the employer's share to the IRS by the employer comparing to definition
What is means Depreciation Line Straight Abbreviation A method of computing depreciation under which the depreciation deduction is the same for each full year depends on definition
What is means Rate Mileage Standard How to actual vehicle expenses for business use, for medical or charitable use, or for moving expenses may deduct a fixed rate for each mile of which definition
What is means State and Local Income Tax Withheld Help submitted to the state or local tax division as an advance payment of the taxpayer's state or local income tax difference definition
What is means Dividend Stock Crossword to shareholders at no cost. The number of shares received are a percentage of the shares owned. The basis of the original shares is when definition
What is means 1245 Section Examples sold, gain must be recaptured as ordinary income up to the amount of depreciation claimed. Section 1245 is the Internal Revenue Code pros and cons definition
What is means Straddle Encyclopedia positions on personal property. One example, is a put and call option on the same number of shares of a particular security, with the same similarities definition
What is means Income Employment Self Information about by a self-employed employed individual. In most cases, the income is subject to self-employment (social security and medicare) tax how much definition
What is means Securities Tutorial in corporate stock or stock rights oran interest in any note, bond, debenture or other evidence of indebtedness issued by a government or how many definition
What is means Payments Maintenance Separate Error Amounts paid to one spouse by the other spouse under a court order or agreement while they live apart compare definition
What is means Corporations S Answer that generally pays no tax. Instead, shareholders of an S corporation report their share of the corporation's income, gain, losses why definition
What is means Simplified Employee Pension (SEP) Means what makes contributions to an employee's individual retirement account (IRA), or a self-employed person contributes to his own plan how better definition
What is means Short-Term Gain or Loss Description Gain or loss on the sale or exchange of a capital asset held one year or less when definition
What is means Employee Statutory Definition for social security and Medicare tax purposes and as self-employed for income tax purposes. The "Statutory employee" box on such determines definition
What is means 1250 Section Explain be recaptured as ordinary income to the extent of the depreciation claimed in excess of straight line. Section 1250 is the section of the comparing to definition
What is means Sale Short What is stock certificates or other property delivered to the buyer. At a later date, the seller either purchases similar stock or property depends on definition
What is means Tips Security Social Meaning The amount of tips reported to an employer by an employee that is subject to this tax. Tips are also subject to Medicare tax which definition
What is means Damages Severance Abbreviation Payment received because part of a property is condemned and the value of the retained part is thereby decreased difference definition
What is means Method Simplified How to The most common method of computing the taxable portion of a pension received from a qualified employer plan when definition
What is means Tax Employment Self Help security/medicare tax paid by self-employed individuals. See our Social Securty Wages and Earnings Base rate table for the current income pros and cons definition
What is means Section 1231 Gain or Loss Crossword A net section 1231 gain is treated as long-term capital gain and a net section 1231 loss is treated as an ordinary (fully deductible) loss similarities definition
What is means Pay Sub Examples Supplemental unemployment benefits. These benefits are generally received from a company-financed fund and are fully taxable as wages how much definition
What is means Mail Snail Encyclopedia aficionados to describe traditional ground mail via the U.S. Postal Service, referring to its relatively slow speed of delivery compared to how many definition
What is means Value Salvage Information about The estimated value that will be realized upon the sale or other disposition of an asset at the end of its useful life compare definition
What is means Shareholder Tutorial An individual or entity that owns shares of capital stock why definition
What is means Harbor Safe Error simpler method of determining a tax consequence than is available following the precise language of the Code or regulations. An example is how better definition

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Define Safe Harbor definition Shareholder explain Salvage Value what is Snail Mail meaning SUB Pay abbreviation Section 1231 Gain or Loss how to Self-Employment Tax. definition.

Explain Student Loan Interest Deduction definition Social Security Wages what.