Tag: EA

  • Earned Income

    Earned Income means:a tax term describing "sweat of the brow" income, which requires obvious effort on the part of the recipient. This includes all income generated by providing goods or services, especially wages and salaries but also net profit from a trade or business; it is […]

  • Easement

    The Easement are. payment received for granting an easement (specific limited use or enjoyment) is usually considered to be from the sale of an interest in real property. The amount received reduces the basis of the affected part of the property. If the amount received exceeds the basis of the […]

  • Earned Income Credit

    Description and Definition of Earned Income Credit (EIC) A refundable credit for low-income taxpayers with earned income. Low-income workers can file a tax return to get an earned income credit, even if no income tax was withheld from the worker's pay. Resources See Also Further Reading […]

  • Early Withdrawal Penalty

    Early Withdrawal Penalty means:a charge assessed against holders of fixed-term investments, principally certificates of deposit, if they withdraw their money before maturity. Such a penalty would be assessed, for example, if a person who had a 4-year CD withdrew the money after 3 years. […]

  • Earnings Stripping

    About Earnings Stripping: Earnings Stripping Rules are rules stipulating that thinly capitalized corporations may not claim a current deduction for excessive interest paid to a related party if the interest income is exempted from U.S. taxation. These rules apply to a corporation only if it has a de…

  • Earnings

    About Earnings: for Social Security, the most important factor used to determine the amount of a person's benefits. Benefits are based on earnings (adjusted annually for inflation) averaged over most of the working lifetime. It is a good policy to verify the amount of your earnings at least every 3 …

  • Earned Income Tax Credit

    Earned Income Tax Credit means:a refundable credit that is adjusted for family size. For a taxpayer with one qualifying child (see qualifying person), the EITC is 26.3% of the first $7,750 of earned income in 1994. The maximum credit in 1994 is $2,038, which is reduced by 15 98% of earned income…

  • Early Retirement

    Early Retirement means:a term used in relation to pensions; it denotes leaving a job before normal retirement age, subject to minimum requirements of age and years of service. There is usually a reduction in the monthly retirement benefit, and an early distribution (say before age 59 V2) from a …

  • Earnings and Profits

    Earnings and Profits means:a term referring to the economic capacity of a corporation to make a distribution to shareholders that is not a return of capital. Such a distribution would constitute a taxable dividend to the shareholder to the extent of current and accumulated earnings and profit. T…

  • Earnings Before Taxes

    Earnings Before Taxes means:sales revenues less cost of sales, operating expenses, and interest, before taxes have been paid.U.S. and other Developed Countries International Tax MeaningSales revenue less cost of sales, operating expenses, and interest, before taxes have been paid….