What is stock trade service business definition
Sep, Stock In Trade, Service Business, Section 125 Plan, Short-Term Gain Or Loss, Section 1245.

Tax definitions S

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

Tax explained and meaning

What does it do? Descriptio of tax definitions.

Define Sep, Stock In Trade, Service Business, Section 125 Plan, Short-Term Gain Or Loss, Section 1245, Spousal Ira, Self-Employment Tax, Schedules, Shareholder definition.

Explain Sep, Stock In Trade, Service Business, Section 125 Plan what.