Tax definitions C

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

Tax explained and meaning

What does it do? Descriptio of tax definitions.

Define CLADR definition Cost Recovery explain Child what is Cafeteria Plan meaning Copyright abbreviation Casualty Loss how to Casualty help Coupon Bond crossword. definition.

Explain Calendar Year definition Cash Equivalent Doctrine explain Capital what.