What is child dependent care credit definition
Child And Dependent Care Credit, Child Tax Credit, Child, Casualty Loss, Cash Method Of Accounting.

Tax definitions C

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

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Define Child And Dependent Care Credit, Child Tax Credit, Child, Casualty Loss, Cash Method Of Accounting, Cash Equivalent Doctrine, Capital Loss, Capital Gain definition.

Explain Child And Dependent Care Credit, Child Tax Credit, Child what.