Tax definitions M
- What is means Tips Medicare Describe Tips reported to an employer by a tipped employee. Such tips are subject to Medicare withholding
- What is means Expenses Moving Describe employees and self-employed individuals who move for work-related reasons, providing certain requirements are met. Form 3903 is used to
- What is means Jointly Filing Married Describe taxpayers who are married at the end of the tax year and not legally separated under a final decree of divorce or separate maintenance. The
- What is means Participation Material Describe deductibility of passive income. Passive income does not include an activity in which an individual is a material participant. A material
- What is means A Part Medicare Describe nursing home care. Medicare tax is withheld from an employee's wages, or paid with the tax return by a self-employed person. The
- What is means Wages Medicare Describe Total wages paid to an employee that are subject to Medicare tax. This amount doesn't include tips, which are reported separately
- What is means Life Class Midpoint Describe depreciating an asset under the CLADR System. Midpoint class life is used to determine the asset's recovery period under ACRS and
- What is means Magi Agi Modified Describe is a figure used to figure the limit on an exclusion or deduction allowed in computing adjusted gross income. Depending on the item for
- What is means Modified Accelerated Cost Recovery System (MACRS) Describe for most property placed in service after December 31, 1986. But ACRS (see Accelerated Cost Recovery System) must be used for certain
- What is means Credit Interest Mortgage Describe mortgage credit certificate from a state or local government in connection with a new mortgage for the purchase of their main may claim a
- What is means Agreement Support Multiple Describe otherwise be entitled to an exemption for a dependent other than a qualifying child, together furnish more than half the dependent's
- What is means Separately Filing Married Describe married taxpayers who choose to record their respective incomes, deductions, and credits on separate individual tax returns
- What is means Margin Describe security that must be paid as a down payment by an investor buying on credit. The required margin fluctuates subject to federal regulations
- What is means Expenses Medical Describe individual, spouse, and dependents are allowed as an itemized deduction to the extent that such amounts (less reimbursements) exceed 7.5
- What is means Medical Savings Account (MSA) Describe custodial account that you set up with a U.S. financial institution (such as a bank or an insurance company) in which you can save money
- What is means Marriage Describe A legal union between one man and one woman as husband and wife
- What is means B Part Medicare Describe doctor bills and outpatient services. The premium is withheld from the benefits of social security recipients. Go to the Social Security
- What is means Home Main Describe See "principal residence," defined elsewhere in this glossary
Tax explained and meaning
What does it do? Descriptio of tax definitions.
Define Main Home, Medicare Part B, Marriage, Medical Savings Account (Msa), Medical Expenses, Margin, Married Filing Separately, Multiple Support Agreement, Mortgage definition.
Explain Main Home, Medicare Part B, Marriage, Medical Savings what.