What INCOME AVERAGING means: A method by which farmers may sometimes reduce tax liability by computing their income tax as if their current farm income had been spread evenly over the preceding three years. The term also is sometimes used when referring to the 10-year averaging method, which is used for computing the tax on a lump-sum distribution from a qualified employer plan. See "10-Year Averaging.".
- Definition Individual Retirement Arrangement (IRA):
- Dictionary retirement arrangement is a trust set up to receive retirement contributions of individuals. The arrangement may be in the form of an individual retirement account or individual retirement annuity income averaging definition.
- Definition Interlocutory Decree:
- Dictionary See Divorce Decree (Interlocutory income averaging explain.
- Definition Independent Contractor:
- Dictionary contracts to do work according to his own methods and who is not subject to control except as to the results of such work. An employee, by contrast, is subject to the control of the employer as to income averaging what is.
- Definition Inheritance:
- Dictionary from a bequest or devise, an inheritance is property acquired through laws of descent and distribution from a person who dies without leaving a will. Property so acquired usually takes as its basis income averaging meaning.
How works Income Averaging meaning in Tax definitions I .
