Category: A
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Adjusted Gross Income
About Adjusted Gross Income: Adjusted Gross Income (AGI) is the Gross income (including all taxable sources) reduced by a percentage of income (because of certain adjustments), for example charitable contributions, deductible IRA contribution, student loan interest and miscellaneous itemized […]
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Age
Age 25 or Older Issue You may find information about Age 25 or Older in this Tax Platform of the American Encyclopedia of Law.
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Amortization
Amortization may have one of the following meanings, depending the context of the term: 1. the systematic write-off of costs incurred to acquire an intangible asset, such as patents, copyrights, and organization expenses, over its useful life. Former IRC (check if this IRC provision is current […]
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Accelerated Cost Recovery System
Description and Definition of Accelerated Cost Recovery System (ACRS) Accelerated Cost Recovery System (ACRS) was a statutory method of depreciation allowing accelerated rates for most types of property used in business and income-producing activities during the years 1981 through 1986. This […]
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Adjusted Basis
Description and Definition of Adjusted Basis Your adjusted basis in property is the starting point for determining taxable gain or loss. It is generally your original cost, increased by capital improvements, and decreased by depreciation, depletion, and other capital write-offs. Special rules […]
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At-risk Rules
At-risk Rules About At-risk Rules: See in the American Legal Encyclopedia Description and Definition of At-Risk Rules The At-Risk Rules limit your loss deductions to the actual amount you are at risk for, including promissory notes on which you are personally liable. There is an exception for […]
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Adoption Credit
Description and Definition of Adoption Credit An Adoption Credit is a tax credit for qualifying expenses of adopting a child under 18 or adopting a person who is physically and mentally unable to care for himself or herself. This credit effectively refunds to you the first $5,000 for expenses […]
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Accelerated Depreciation
Description and Definition of Accelerated Depreciation Accelerated depreciation is a method of depreciation that produces larger deductions for depreciation in the early years of an asset's life versus spreading the cost evenly over the life of the asset, as with the straight-line […]
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Appreciation in Value
Description and Definition of Appreciation in Value Appreciation in Value is the increase in the value of an asset which is due to economic and other conditions, as distinguished from increases in value due to improvements or additions made to it. When you sell appreciated property, you pay […]
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Annualized Rate
Description and Definition of Annualized Rate Annualized Rate is the rate for a period of less than a year computed as though for a full year. Resources See Also Further Reading Annualized Rate in the West's Tax Law Dictionary Annualized Rate in "A Dictionary of Taxation"