摘要: Income from investments, including dividends, interest, royalties and capital gains.
There are three main categories of income: active income, passive income and portfolio income. These [阅读全文:]
摘要: A type of property which, in its most general definition, can include any asset other than real estate. The distinguishing factor between personal property and real estate is that personal property is[阅读全文:]
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: Generally, a specified amount that employers will pay to employees as reimbursement for various expenses. Per diem payments usually assume a set dollar limit, such as $30 per day for meals or $100 per[阅读全文:]
摘要: A taxable deduction that assigns a set percentage of depletion to the gross income derived from extracting fossil fuels, minerals or other nonrenewable resources from the earth. Percentage depletion i[阅读全文:]
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:]