Hidemi Yuki Description and Definition of Transportation and Storage Costs The costs of moving your household belongings, furniture, vehicles, and pets, to your new home, and the cost of in transit storage for up to 30 consecutive days. These are deductible moving expenses. Resources See Also Further […]
Roth Iras Issue You may find information about Roth Iras in this Tax Platform of the American Encyclopedia of Law.
Description and Definition of Capital Budget The estimated amount planned to be expended for capital items in a given fiscal period. Capital items are fixed assets such as facilities and equipment, the cost of which is normally written off over a number of fiscal periods. Shows plans for […]
Description and Definition of Form 1040 The U.S. Individual Income Tax Return Form 1040 is the basic "long" form taxpayers file annually with the Internal Revenue Service. Taxpayers with simple returns can use the "short" Form 1040 A or Form 1040 EZ. Description and […]
Description and Definition of Net Operating Loss (NOL) A net operating loss is experienced by a business when it's deductions exceed it's income. For income tax purposes a net operating loss can be used to offset income in a prior year. An NOL can be carried back for the last 3 years […]
Description and Definition of Pension A retirement plan. Payments to employees from an employer funded retirement plan for past services rendered. Resources See Also Further Reading Pension in the West's Tax Law Dictionary Pension in "A Dictionary of Taxation"
Description and Definition of Passive Income Income from a passive activity. You can offset a passive loss against your passive income. You cannot offset a passive loss against ordinary income. Resources See Also Further Reading Passive Income in the West's Tax Law Dictionary Passive […]
Description and Definition of Redevelopment or Enterprise Zone A government designated area that has decayed so badly it is in desperate need of substantial improvements. Resources See Also Further Reading Redevelopment or Enterprise Zone in the West's Tax Law Dictionary Redevelopment or […]
Description and Definition of Improvements The expenses of permanently upgrading your property as compared to maintaining or repairing it. You add the cost of the improvements to the basis of the property instead of taking a deduction for the cost of the improvements in the year paid. If the […]
Identity Theft Affidavit, I.R.S Form 14039 Issue You may find information about Identity Theft Affidavit, I.R.S Form 14039 in this Tax Platform of the American Encyclopedia of Law. Tax Related Identity Theft Issue You may find information about Tax Related Identity Theft in this Tax Platform […]