Category: Q

  • Qualified Charitable Organization

    Description and Definition of Qualified Charitable Organization A nonprofit organization that is approved by the U.S. Treasury to receive charitable contribution deductions. Resources See Also Further Reading Qualified Charitable Organization in the West's Tax Law Dictionary Qualified […]

  • Qualifying Widow

    Description and Definition of Qualifying Widow(er) A surviving spouse with dependent children is entitled to file a return using the married filing joint tax rates for the two years following the year in which the other spouse died. Resources See Also Further Reading Qualifying Widow(er) in […]

  • Qualified Domestic Relations Order

    Qualified Domestic Relations Order means:a domestic relations order made in accordance with state domestic relations laws for alimony, child support, or the settlement of marital property rights. Former IRC (check if this IRC provision is current here) §4l4(p). Description and […]

  • Qualified Business

    About Qualified Business: generally, any trade or business except one that predominantly holds or develops intangibles for sale or license. A qualified business 4s eligible for certain credits or deductions available in an enterprise zone business….

  • Qualified Terminable Interest Property Trust

    About Qualified Terminable Interest Property Trust: A Qualified Terminable Interest Property (QTIP) Trust is a trust that allows assets to be transferred between spouses. The grantor of a QTIP trust directs income from the assets upon the death of the spouse. The QTIP for which a marital deduction w…

  • Qualified Plan

    About Qualified Plan: Qualified Plan (qualified Trust) is a pension or profit-sharing plan set up by an employer for the benefit of employees that adheres to a number of rules. An employer receives an immediate deduction, the trust income is not taxable, and the employee is taxed on the income only …

  • Qualified Mortgage Bond

    About Qualified Mortgage Bond: Qualified Mortgage Bond (QMB) is a bond the proceeds of which are used to finance the purchase, or qualifying rehabilitation or improvement, of a single-family, owner- occupied residence. Persons receiving QMB-financed loans generally must satisfy principal residence, …

  • Qualified Hedging Transaction

    About Qualified Hedging Transaction: Qualified Hedging Transaction (QHT) is an integrated economic transaction composed of a debt instrument and one or more derivative instruments entered into as hedges. The QHT is treated as a single transaction resulting in a synthetic debt instrument. Former Tax …

  • Qualified employee plan

    About Qualified employee plan: Qualified employee plan is a retirement plan that meets tax law tests and allows for tax deferment and tax-free accumulation of income until benefits are withdrawn. Qualified plans include pension; profit sharing; stock bonus; employee stock ownership; Keogh Plans; and…

  • Qualified Employee Discount

    About Qualified Employee Discount: nontaxable income received from an employer that is derived from the line of business in which the employee works. In the case of a property discount, the employee's exclusion is limited to the gross profit component of the price to customers. In the case of a serv…