What INVENTORY means: For income tax purposes, inventory consists of items acquired for sale to customers in the regular course of a taxpayer's trade or business.
- Definition Itemized Deductions:
- Dictionary expenditures allowed by the tax Code as deductions from adjusted gross income. Examples are certain medical expenses, qualified interest on home mortgages, and charitable contributions. Itemized inventory definition.
- Definition Intangible Personal Property:
- Dictionary Property, other than real property, with no intrinsic value; its value lies in the rights conveyed. Examples include cash, insurance, stock, goodwill, and patents inventory explain.
- Definition Income Averaging:
- Dictionary 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 inventory what is.
- Definition Investment Tax Credit:
- Dictionary A provision under which tax credits are allowed for rehabilitating a building or investing in energy property for business purposes inventory meaning.
How works Inventory meaning in Tax definitions I .
