摘要: A type of property that an individual does not use for business purposes or hold as an investment. In other words, property that an individual owns for personal enjoyment.
There are many[阅读全文:]
摘要: Any business enterprise with the primary purpose of providing personal services. Personal-service activities encompass a wide range of professions, including law, medicine, engineering, design, financ[阅读全文:]
摘要: A corporation that is created for the purpose of providing personal services to individuals or groups. To be considered a personal-service corporation by the IRS, the employee-owners must perform at l[阅读全文:]
摘要: Income paid to a taxpayer during the tax year that is not constructively received at the taxpayer's end. Phantom income is not terribly common, but does manifest itself in such investments as limited[阅读全文:]
摘要: 1. The gradual reduction of a tax credit as a taxpayer approaches the income limit to qualify for that credit.
2. The gradual reduction of a taxpayer's eligibility to contribute to a tax-adv[阅读全文:]
摘要: Similar to the bona fide foreign residence test, the physical-presence test allows taxpayers to claim the foreign earned income exclusion. The test mandates that a taxpayer must be physically present [阅读全文:]
摘要: A notion that an investment firm that passes all capital gains, interest and dividends on to its customers/shareholders shouldn't be levied at the corporate level like most regular companies are.
摘要: The dollar amount that each individual taxpayer is able to deduct for him or herself or a dependent each year. A separate personal exemption is accorded to every man, woman and child in the U.S. that [阅读全文:]
摘要: An individual's total annual gross earnings coming from wages, business enterprises and various investments.
Personal income is also known as your "before-tax income" and is used in c[阅读全文:]
摘要: Interest that taxpayers pay on personal and consumer loans. Personal interest is nondeductible, and the rates charged for this type of interest are often quite high. Personal interest that is received[阅读全文:]