What COMMON-LAW STATE means: A state in which the laws governing property rights are based on British common law. The property and income of each spouse belongs to him or her separately.
- Definition Convention Expenses:
- Dictionary incurred in attending a convention are deductible if the meetings are related to a taxpayer's trade or business or job-related activities. If, however, the convention trip is primarily for common-law state definition.
- Definition Cash Method Of Accounting:
- Dictionary common methods of accounting, the other of which is the accrual method defined elsewhere in this glossary. Under the cash method of accounting, income is reported in the tax year actually or common-law state explain.
- Definition Closed Year:
- Dictionary A tax year for which the statute of limitations has expired. The taxpayer can't claim a refund and the IRS can't collect additional taxes (with certain exceptions common-law state what is.
- Definition Contract Price:
- Dictionary installment sale, 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 selling price when no mortgages are assumed common-law state meaning.
How works Common-Law State meaning in Tax definitions C .
