Tax

Category: P

  • Preference Items

    Description and Definition of Preference Items Tax favored items allowed under the regular income tax calculations but not under the alternative minimum tax calculations. Resources See Also Further Reading Preference Items in the West's Tax Law Dictionary Preference Items in "A […]

  • Public Goods

    Description and Definition of Public Goods and Services Tax money is used for a variety of public goods and services that are all available for use by the public. Some examples of public goods are national defense, street lights, and roads and highways. Public services include welfare […]

  • Principal Place of Business

    Principal Place of Business means:the place where a person conducts most of his or her business activities, where the person does business most of time. Two primary considerations in deciding whether a home office is a person's principal place of business, and therefore deductible, […]

  • Probate Estate

    Probate Estate means:the property passing by will or by operation of state intestate succession law from a decedent to his or her heirs or other beneficiaries. Probate estate may be quite different from gross estate. Description and Definition of Probate Estate Property held in a […]

  • Partnership

    Partnership means:an organization of two or more persons (individuals or companies) who pool some or all of their resources, abilities, and skills in a business and divide the profit or loss in predetermined proportions. Association of two or more person formed for the purpose of making […]

  • Pay

    Making Work Pay Issue You may find information about Making Work Pay in this Tax Platform of the American Encyclopedia of Law.

  • Passive Loss

    Description and Definition of Passive Loss Loss from a passive activity. Passive activities are investments in which you do not materially participate. Deduction of losses from passive activities is limited to the total of income from other passive activities. Passive losses generally […]

  • Progressive Tax

    Progressive Tax means:a tax whose rate increases as the amount subject to the tax increases, thereby taxing the wealthy at a higher rate than the poor or the middle class. A tax that takes a larger percentage of income from high-income groups than from low-income groups. See also other […]

  • Profit sharing Plan

    Profit sharing Plan Profit sharing Plan means:an agreement that allows employees to share in company profits. A Profit sharing plan is a contribution plan under which the amount contributed to the employee's account is based on a percentage of the employer's profits. Annual […]

  • Premium Tax Credit

    Premium Tax Credit, I.R.S. Form 8962 Issue You may find information about Premium Tax Credit, I.R.S. Form 8962 in this Tax Platform of the American Encyclopedia of Law.