摘要: Any interest that is paid during the construction phase of a building or other tangible property. The interest may be incurred directly as the result of a construction loan. Construction interest expe[阅读全文:]
摘要: A tax term mandating that a taxpayer is liable for income, which has not been physically received, but has been credited to the taxpayer's account or otherwise becomes available for him or her to dra[阅读全文:]
摘要: A section of the Internal Revenue Code that expands the types of transactions that are considered to be sales and are subject to capital gains tax. According to this rule, transactions that effectivel[阅读全文:]
摘要: An area designated as a war zone during a specified period. Members of the military do not need to claim taxable income they earn while working in a combat zone.
Troops on active duty in[阅读全文:]
摘要: Income earned by taxpayers who live in community property states. Community income is considered to belong equally to both spouses, just as with all other property that is owned or acquired by either [阅读全文:]
摘要: Identical to a standard split-dollar insurance plan, except that a charity, instead of an employer, owns the life insurance policy. Charitable split-dollar insurance plans pay death benefit proceeds t[阅读全文:]
摘要: A non-refundable tax credit for unreimbursed childcare expenses paid by working taxpayers. The Child and Dependent Care Credit is designed to encourage taxpayers to pay childcare expenses so that they[阅读全文:]
摘要: A credit given to taxpayers for each dependent child that is under the age of 17 at the end of the tax year. The Child Tax credit is a nonrefundable credit that reduces the taxpayer's liability on a [阅读全文:]
摘要: One of the key criteria set forth by the IRS that a person must satisfy in order to be claimed as someone else's dependent. The citizenship test dictates that the prospective dependent be a citizen o[阅读全文:]
摘要: A test for deductibility of business-related dining and entertainment expenses. The clear business setting test mandates that there can be no other motive for incurring these expenses except to f[阅读全文:]