Tax

Category: T

  • Tenancy By the Entirety

    Tenancy By the Entirety Tenancy By the Entirety means:a form of joint ownership for real estate that exists only between husband and wife with equal rights of possession and enjoyment during their joint lives and with the right of survivorship; that is, when one dies, the property goes […]

  • Tax-sheltered Annuity

    Tax-sheltered Annuity Tax-sheltered Annuity means:a retirement plan invested in annuities or a mutual fund custodial account for employees of a public school system or an exempt educational, charitable, or religious organization. The employee's rights must be nonforfeitable, and the […]

  • Tax Increase

    Tax Increase Prevention Act of 2014 Issue You may find information about Tax Increase Prevention Act of 2014 in this Tax Platform of the American Encyclopedia of Law.

  • TeleTax

    Description and Definition of TeleTax An IRS phone number that you can call to hear recorded tax information or to check on your refund if you have not received it within three weeks. Resources See Also Further Reading TeleTax in the West's Tax Law Dictionary TeleTax in "A Dictionary […]

  • Trade

    Trade means:a business, profession, or occupation; but also may be a commerce transaction. A trade often implies (or may imply) a skilled handicraft, which is pursued on a continuing basis, such as carpentry. Trade or business expenses are deductible, in contrast to nondeductible […]

  • Tax Tables

    Description and Definition of Tax Tables Tables of tax amounts published by the IRS for taxpayers with taxable income of less than $100,000 to use to compute their income tax. If your taxable income is more than $100,000 you must use the tax rate schedules. Resources See Also Further Reading […]

  • Tax Exemptions

    Description and Definition of Tax Exemptions An amount of income, indexed for inflation, on which you don't have to pay income tax. Every taxpayer receives at least one personal exemption. Resources See Also Further Reading Tax Exemptions in the West's Tax Law Dictionary Tax […]

  • Tax Preference Items

    Description and Definition of Tax Preference Items Items such as accelerated depreciation, percentage depletion, or certain tax-exempt income, that may subject a taxpayer to the alternative minimum tax (AMT). Resources See Also Further Reading Tax Preference Items in the West's Tax Law […]

  • Tax Credits

    Description and Definition of Tax Credits Money that tax payers can deduct directly from their taxes. Your taxes are reduced by the amount of your credit. You can get tax credits for purposes such as child care expenses and the earned income credit for low-income taxpayers. Resources See Also […]

  • Targeted Group

    Description and Definition of Targeted Group Groups of individuals that have been designated as having a high unemployment rate. Employers receive tax incentives to hire these workers under the Workforce Program. These groups include certain economically disadvantaged people, convicts, and […]