摘要: A rule that sets aside certain types of income as nontaxable. There are many types of income that qualify under this rule, such as life insurance death benefit proceeds, child support, welfare and mun[阅读全文:]
摘要: An additional tax on the sale of vehicles that have poor fuel economy.
A vehicle is subject to a tax if it gets less than a certain number of miles per gallon. This is one of many reason[阅读全文:]
摘要: A collection of tax credits that are grouped together in the General Business Tax Credit Form 3800.
Some of the credits available include the alcohol fuels credit, the research and expe[阅读全文:]
摘要: The total value of all the individual credits to be applied against income on a tax return. This credit can be carried forward for a number of years in most cases and can also be carried back in some [阅读全文:]
摘要: The most commonly used modified accelerated cost recovery system (MACRS) for calculating depreciation. A general depreciation system uses the declining-balance method to depreciate personal property. [阅读全文:]
摘要: An accounting method that considers how current fiscal policies affect future generations. Generational accounting analyzes whether government spending and tax programs that benefit current members of[阅读全文:]
摘要: A taxation rule that allows a married couple to split a gift's total value as if each contributed half of the amount. Gift splitting allows a couple to increase their total gift tax exemption amount [阅读全文:]
摘要: Property, money or assets that one person transfers to another while receiving nothing or less than fair market value in return. Under certain circumstances, the IRS collects a tax on gifts. Transfers[阅读全文:]
摘要: Expenses incurred from the operation of a business or the performance of employment-related activities within your residence. To be able to deduct home office expenses, an individual must spend at lea[阅读全文:]
摘要: An office located inside the taxpayer's home that serves as the taxpayer's principal place of business. In order for home office-related expenses such as utilities and mortgage payments to be deduct[阅读全文:]