Tax definitions S

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

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Define Special Needs Child definition Stock in Trade explain Social Security and Medicare Taxes Withheld what is Short Sale meaning Straddle abbreviation Section 1231. definition.

Explain S Corporations definition Standard Deduction explain SIMPLE what.