摘要: A method of computing amortization (depreciation) by dividing the difference between an asset's cost and its expected salvage value by the number of years it is expected to be used.
Als[阅读全文:]
摘要: One of five tests that must be passed in order to claim someone as a dependent. The Support Test mandates that the taxpayer must have provided more than half of the prospective dependent's living exp[阅读全文:]
摘要: An adjustment to an individual's income for any interest paid on higher education loans during the tax year.
Only payments made within the first 60 months of finishing school qualify fo[阅读全文:]
摘要: A capital loss that cannot be realized in a given tax year due to passive activity limitations. These losses are therefore "suspended" until they can be netted against passive income in a future tax[阅读全文:]
摘要: A benefit given by the government to groups or individuals usually in the form of a cash payment or tax reduction. The subsidy is usually given to remove some type of burden and is often considered to[阅读全文:]
摘要: An tax term describing personal property that can be physically relocated, such as furniture and office equipment. Tangible personal property is always depreciated over either a five- or seven-year pe[阅读全文:]
摘要: A security that is so similar to another that the Internal Revenue Service (IRS) does not recognize a difference between the two. Substantially identical securities can include both new and old securi[阅读全文:]
摘要: A clause in a statute, regulation or similar piece of legislation that provides for an automatic repeal of the entire or sections of a law once a specific date is reached. Once the sunset provision da[阅读全文:]
摘要: A class of employee that is permitted to deduct work-related expenses on Schedule C instead of Schedule A. Statutory employees are usually salespeople or other employees who work on commission.
摘要: The levy assessed against the portion of a property that has been condemned by a public authority. The special assessment tax will reduce the amount of compensation awarded to the property owner [阅读全文:]