Tax

Tag: SO

  • Social Security Number

    Social Security Number means:an identifying number for the individual that is furnished by the Social Security Administration rather than the U.S. Internal Revenue Service. A social security number is required for every individual taxpayer and dependent. It is the counterpart of the […]

  • Social Security

    Description and Definition of Social Security The U.S. Government run retirement plan. Social Security Act of 1983 Issue You may find information about Social Security Act of 1983 in this Tax Platform of the American Encyclopedia of Law. Resources See Also Further Reading Social Security in […]

  • Sole Proprietorship

    Sole Proprietorship means: a business or financial venture that is carried on by a single person and is not a trust or corporation. A sole proprietor (sole owner) has unlimited liability. Schedule C of Former Federal Tax Form (check here if the Form is current) 1040 is used to report the […]

  • Social Security Tax

    Social Security Tax means:the old-age, survivors, and disability (OASDI) portion of the tax assessed on compensation and self-employment earnings under the Federal Insurance Contributions Act. Social Security tax is an amount paid by individuals during the period in which they earn wages […]

  • Social Security Benefits

    Social Security Benefits means:the amounts paid monthly by the Social Security Administration to qualified recipients. Social Security benefits are made available to retired workers, their spouses and their dependents as well as to disabled workers, their spouses and their dependents. A […]

  • Social Security Benefit Statement

    About Social Security Benefit Statement: Form SSA-1099, mailed out each January to Social Security recipients. The Former Federal Tax Form (check here if the Form is current) shows the benefits received for the previous year and is used in filing …

  • Soil and Water Conservation Expenditures

    Soil and Water Conservation Expenditures is. normally, capital expenditures to prevent the erosion of land used in farming, which are deductible up to 25% of the gross farm income. An excess above 25% may be carried forward to a future year. Some examples of these expenditures are the costs of movin…

  • Son-of-mirror Regulation

    Son-of-mirror Regulation means:a Temporary Regulation that prevents a parent corporation from deducting a loss on the sale of a consolidated subsidiary's stock….

  • Social Club

    Social Club means:a tax-exempt club that is organized for pleasure, recreation, and other nonprofitable purposes, substantially all of the activities of which are for such purposes, and no part of the net earnings of which inures to the benefit of any private shareholder. Membership dues paid to…

  • Soak-up Tax

    Soak-up Tax means:a tax liability that depends on the availability of a credit for the tax against an income tax liability to another country. A soak-up tax is not an income tax and is not creditable against U.S. income tax. See also the entries Income Tax</a…