What EMPLOYEE means: For income tax purposes, an employee is an individual who is subject to the will and control of the employer not only as to what shall be done but also as to how it shall be done. An employee is to be distinguished from an independent contractor because an employee's wages are subject to income tax withholding, and in most cases, social security and Medicare tax withholding. Employee status also affects how the taxpayer claims allowable deductions.
- Definition Estate:
- Dictionary commonly used for a taxable entity that is established upon the death of a taxpayer. It consists of all the decedent's property and personal effects. The estate exists until the final employee definition.
- Definition Employment Expenses:
- Dictionary Ordinary and necessary expenses required to perform the duties for which the taxpayer was hired employee explain.
- Definition Exclusion:
- Dictionary that is not included in gross income because the Tax Code excludes it. Examples, include gain from a qualified sale of a principal residence, income earned abroad, and gifts and inheritances employee what is.
- Definition Employee Stock Option:
- Dictionary An option granted to an employee to purchase the employer's stock. Employee stock options to which special income tax treatment is accorded are known as statutory options employee meaning.
How works Employee meaning in Tax definitions E .
