摘要: An investment purchased with pretax income. Money invested in a qualifying investment trust, annuity or plan is exempt from income taxes until it is withdrawn. These sorts of investments are tax-defer[阅读全文:]
摘要: A federal income tax designation that allows a taxpayer to claim as a dependent someone for whom he or she provided considerable financial support during the tax year. Claiming a qualifying relative a[阅读全文:]
摘要: A written tally of all of a taxpayer's personal property. This inventory will also denote how much was paid for each item and when, along with each item's current market value. Property inventories [阅读全文:]
摘要: An income tax that takes the same percentage of income from everyone regardless of how much (or little) an individual earns.
The US and Canada do not use this system. It is quite controv[阅读全文:]
摘要: A Canadian tax deduction relating to taxes that are paid or payable on regular or self-employed income. The Provincial Parental Insurance Plan (PPIP) gives maternity, paternity, parental and adoption [阅读全文:]
摘要: The level of income that is used to determine whether a taxpayer is liable for tax on his or her Social Security benefits, and by how much. Provisional income is calculated by making certain adjustmen[阅读全文:]
摘要: A tax on lobbying and/or political expenses that exceed an allowable amount set by the IRS.
For example, political activists whose expenditures associated with attempting to influence th[阅读全文:]
摘要: This type of bond is used by municipalities to finance public works facilities and improvements. However, the vast majority of the benefit provided by the project being financed by a public purpose bo[阅读全文:]
摘要: Legal recompense that is levied as punishment for a wrong or offense committed by the payor. Punitive damages are awarded by a court of law in a lawsuit. They are often required in order to make up fo[阅读全文:]
摘要: In accounting for mergers and acquisitions, the convention of accounting of the purchase of a subsidiary at the purchase cost rather than its historical cost. This method of accounting is required und[阅读全文:]