Tax

Category: F

  • Fringe Benefits

    Fringe Benefits means:indirect deductible compensation provided to an employee, usually including health and life insurance as well as a pension. Benefits supplementing normal wages or salaries. Although benefits were initially quite minimal, they have subsequently become among the […]

  • Fiduciary

    Fiduciary means:a person, company, or association holding assets in trust for a beneficiary. The fiduciary is charged with the responsibility of investing the money wisely for the beneficiary's benefit. Some examples of fiduciaries are pension trusts, executors of wills and estates, […]

  • First-year Expensing

    Description and Definition of First-year Expensing Also known as the Section 179 deduction, expensing lets you treat up to $19,000 of expenditures that normally would be depreciated over a number of years as current business expenses that you can deduct immediately. Larger deductions are […]

  • Final Return for Decedent

    Description and Definition of Final Return for Decedent A deceased individual's tax return filed for the last year in which the individual lived. The decedent's personal representative is responsible for filing a final return. Resources See Also Further Reading Final Return for […]

  • Fair Labor Standards Act

    Description and Definition of Fair Labor Standards Act A key federal law protecting workers, it established the minimum wage and the 40-hour work week. It also states that workers get 1.5 times regular hourly pay if they work more than 40 hours in a week. Resources See Also Further Reading […]

  • Filing Extension

    Description and Definition of Filing Extension An extension of time to file your tax return. This extension is a "paper work" extension and does not extend the time to pay your taxes. Resources See Also Further Reading Filing Extension in the West's Tax Law Dictionary Filing […]

  • Financial Assets

    Financial Assets Overseas Issue You may find information about Financial Assets Overseas in this Tax Platform of the American Encyclopedia of Law.

  • Federal Deposit Insurance Corporation

    Description and Definition of Federal Deposit Insurance Corporation (FDIC) This federal agency inspires confidence in the banking system by insuring deposits. It insures deposits up to $100,000 in member banks. Depositors get their money back if the bank becomes insolvent. Resources See Also […]

  • Foreign Tax Credit

    Foreign Tax Credit means:credit allowed against U.S. inc: me taxes for foreign taxes paid. The credit can be used only to lower U.S. taxes on income earned overseas. A foreign tax credit limitation is computed by multiplying the U.S. tax Kabi r. before the credit by the ratio of foreign […]

  • Fixing-up Expenses

    The Fixing-up Expenses are. expenses incurred for the purpose of physically preparing a personal residence for sale. Qualified fixing-up expenses may be deducted from the sales price to determine the amount (the adjusted sales price) that must be spent for a new residence in order to defer […]