Separate Return
[概述]AseparateForm1040,oravariantthereof,filedbyamarriedtaxpayerwhoisnotfilingjointly.Aseparatereturnisusuallyfiledeitherbyam
Horizontal Equity
[概述]Thetheorystatingthatpeopleinthesameincomebracketshouldbetaxedatthesamerate.Thisisthecaseinmanywesternizedcountries.
Marginal Tax Rate
[概述]Theamountoftaxpaidonanadditionaldollarofincome.Asincomerises,sodoesthetaxrate.Manybelievethisdiscouragesbusinessinvestme
Full-Time Student
[概述]Astatusthatisimportantfordeterminingdependencyexemptions.Full-timestatusisbasedonwhattheindividual'sschoolconsidersfullt
Tax Liability
[概述]Thetotalamountoftaxthatanentityislegallyobligatedtopaytoanauthorityastheresultoftheoccurrenceofataxableevent.Taxliabilit
Research Activities Credit
[概述]Anonrefundablefederaltaxcreditimplementedin1981asanincentiveforbusinessesandotherentitiestoincreasetheirresearchanddevel
Income Exclusion Rule
[概述]Arulethatsetsasidecertaintypesofincomeasnontaxable.Therearemanytypesofincomethatqualifyunderthisrule,suchaslifeinsurance
Passive Activity Loss Rules
[概述]Asetofrulesthatprohibitsusingpassivelossestooffsetearnedorordinaryincome.Passiveactivitylossrulespreventinvestorsfromusi
Value-Added Tax - VAT
[概述]Atypeofconsumptiontaxthatisplacedonaproductwhenevervalueisaddedatastageofproductionandatfinalsale.Value-addedtax(VAT)ism
Unaudited Opinion
[概述]AnopinionthatcanbeofferedbyaCertifiedPublicAccountantbeforeheorsheauditsanorganization'sbooks.Thisisknownasanunauditedop
Parsonage Allowance
[概述]Anallowancedesignatedbyachurchorotherorganizationforitschurchprofessionals(clergy)fortheexpensesofprovidingandmaintainin
Tax Schedule
[概述]Aratesheetusedbyindividualtaxpayerstodeterminetheirestimatedtaxesdue.Therearefourmainschedulesused,basedonthefilingstatu
Self-Employment Tax
[概述]Ataximposedonself-employedpeople,whomustpaythistaxinordertoreceivesocial-securitybenefitsuponretirement.Theself-employme
Suspended Loss
[概述]Acapitallossthatcannotberealizedinagiventaxyearduetopassiveactivitylimitations.Theselossesaretherefore"suspended"untilth
IRS Publication 503: Child And Dependent Care Expenses
[概述]AdocumentpublishedbytheInternalRevenueServicethatoutlinesthecriteriawhichmustbemetinorderforataxpayertodeductexpensesfor
Tax Preference Item
[概述]Atypeofincome,normallytax-free,thatmaytriggerthealternativeminimumtax(AMT)fortaxpayers.Taxpreferenceitemsincludeprivate-
Limited Partner
[概述]Apartnerinapartnershipwhoseliabilityislimitedtotheextentofthepartner'sshareofownership.Limitedpartnersgenerallydonothave
Tax Court
[概述]Acourtoflawwhosesolejurisdictionistodecidelitigationinvolvingfederalincome,death,andothertaxes.Thisiswhereyougoifyoudon'
IRS Publication 524 - Credit For The Elderly Or The Disabled
[概述]AdocumentpublishedbytheInternalRevenueService(IRS)providinginformationaboutthetaxcreditavailabletotheelderlyorthedisable
Limited Entrepreneur
[概述]Apersonwhoisinvolvedinalimitedliabilitycompanybutdoesnotactivelymanageit.Onebenefitofbeingalimitedentrepreneurisnothavin
Tax Gain/Loss Harvesting
[概述]Sellingsecuritiesatalosstooffsetacapitalgainstaxliability.Taxgain/lossharvestingistypicallyusedtolimittherecognitionofsh
Impose
[概述]Theactofplacingafee,levy,taxorchargeonanassetortransactiontothedetrimentoftheinvestor.Theimpositionoffeesisacommonpracti
Non-Resident
[概述]Anindividualwhomainlyresidesinoneregionorjurisdictionbuthasinterestsinanotherregion.Intheregionwhereheorshedoesnotmainly
Out-Of-Pocket Expenses
[概述]Anexpenseincurredandpaidforbyanindividualforpersonaluse,orrelatingtoone'semploymentorbusiness.Thiscanalsorelatetoongoing
Local Tax
[概述]Anadditionaltaxontopoffederalandstatetaxes,usuallycollectedintheformofpropertytaxes.Alsocalled"municipaltax".Thiscoverse
Net Operating Loss - NOL
[概述]Aperiodinwhichacompany'sallowabletaxdeductionsaregreaterthanitstaxableincome,resultinginanegativetaxableincome.Thisgener
Private Letter Ruling - PLR
[概述]Aninterpretationofstatuteoradministrativerulesandtheirapplicationtoaparticularsetoffactsorcircumstances.Theprivateletter
Capital Gains Tax
[概述]Atypeoftaxleviedoncapitalgainsincurredbyindividualsandcorporations.Capitalgainsaretheprofitsthataninvestorrealizeswhenhe
Tax Benefit
[概述]Ataxbenefitisanallowabledeductiononataxreturnintendedtoreduceataxpayer'sburdenwhiletypicallysupportingcertaintypesofcomm
Average-Cost Method
[概述]Acostingmethodbywhichthevalueofapoolofassetsorexpensesisassumedtobeequaltotheaveragecostoftheassetsorexpensesinthepool.F
Section 988
[概述]Afinancialtransactioninvolvingacapitallossorgainonaninvestmentheldinaforeigncurrency.ASection988transactionrelatestoIRSS
Placed In Service
[概述]Thepointintimewhenanassetthatcanbedepreciatedisfirstplacedinuse.Thedatetheassetisplacedinservicemarksthebeginningofthede
Independent Contractor
[概述]Aself-employedtaxpayerthatcontrolshisorherownemploymentcircumstances,includingwhenandhowworkisdone.Independentcontractor
Tax Haven
[概述]Acountrythatoffersindividualsandbusinesseslittleornotaxliability.ThereareseveralcountriesintheCaribbeanthatareconsidered
Price Ceiling
[概述]Themaximumpriceasellerisallowedtochargeforaproductorservice.Priceceilingsareusuallysetbylawandlimitthesellerpricingsyste
Return
[概述]Thegainorlossofasecurityinaparticularperiod.Thereturnconsistsoftheincomeandthecapitalgainsrelativeonaninvestment.Itisusu
Retention Tax
[概述]Amandatorytaxplacedonincomethatisearnedoninvestmentsinacountrythatisnottheresident'shomecountry.Thisonlyappliestocountri
Earnings
[概述]Theamountofprofitthatacompanyproducesduringaspecificperiod,whichisusuallydefinedasaquarter(threecalendarmonths)orayear.E
IRS Publication 504
[概述]AdocumentpublishedbytheInternalRevenueServicethatprovidestaxguidelinesforindividualswhoareseparatedordivorcedfromtheirsp
Qualified Widow Or Widower
[概述]Theleastcommonofthefivetypesoftaxfilingstatuseachtaxpayermustselectfromwhenpreparingtheirpersonaltaxreturn.Aqualifiedwid