What SECTION 1245 means: When depreciable personal property is sold, gain must be recaptured as ordinary income up to the amount of depreciation claimed. Section 1245 is the Internal Revenue Code section that requires this treatment. Also see "Recapture of Depreciation.".
- Definition State And Local Income Tax Withheld:
- Dictionary The amounts withheld from income and submitted to the state or local tax division as an advance payment of the taxpayer's state or local income tax section 1245 definition.
- Definition Shareholder:
- Dictionary An individual or entity that owns shares of capital stock section 1245 explain.
- Definition Social Security Wages:
- Dictionary 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 section 1245 what is.
- Definition Section 125 Plan:
- Dictionary See Cafeteria Plan section 1245 meaning.
How works Section 1245 meaning in Tax definitions S .
