What TAX BENEFIT RULE means: A rule that provides that the amount of an expense recovered must be included in income in the year of the recovery to the extent the original expense resulted in a tax benefit. The most common example is a state income tax refund of tax deducted in the prior year.
- Definition Transfer Tax:
- Dictionary A tax imposed when real estate is sold or transferred from one person to another tax benefit rule definition.
- Definition Taxable Income:
- Dictionary Taxable income is equal to adjusted gross income reduced by itemized deductions or the standard deduction, and by allowable personal and dependent exemptions tax benefit rule explain.
- Definition Tip Income:
- Dictionary Gratuities received by the taxpayer for services rendered. Tips of $20 or more from any one job during a calendar month must be reported to the taxpayer's employer tax benefit rule what is.
- Definition Temporary Assignment:
- Dictionary A work assignment is considered to be temporary if, at the time the assignment begins, it can be expected to last one year or less tax benefit rule meaning.
How works Tax Benefit Rule meaning in Tax definitions T .
