Tag: SC
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Scholarship
Description and Definition of Scholarship Monies granted by an organization to a student for tuition and other educational expenses. Grants to degree candidates receive tax free treatment if awarded after August 16, 1986, and used for tuition and course related expenses. Room and board […]
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S Corporation
S Corporation means:a business entity (like a corporation or company) with a limited number of stockholders (35 or fewer) that elects not to be taxed as a regular (C) corporation and meets certain other requirements. A small business corporation for which an election is in effect. […]
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Schedule
Description and Definition of Schedule Certain forms used to itemize specific sources of income or specific expenses taxpayers can claim. Resources See Also Further Reading Schedule in the West's Tax Law Dictionary Schedule in "A Dictionary of Taxation"
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Schedule K Items
Schedule K Items means:the items of income, expense, and credit that are stated separately on Schedule K of partnership and S corporation tax returns. These items, such as passive income, dividends, and long-term gains and losses, have special tax treatment at the shareholder level, so they are …
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Schedule Ph
Schedule Ph means:the tax form schedule used to compute the personal holding company tax. Learn about Federal Tax Forms here. See Tax Forms in the Encyclopedia….
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Schedule C
Schedule C means:the tax form schedule that an individual uses for each business (or self- employed activity). A taxpayer lists income less expenses on this schedule. See Tax Forms in the Encyclopedia….