Tax

Tag: HO

  • Hope Scholarship Tax Credit

    Description and Definition of Hope Scholarship Tax Credit A tax credit of up to $1,500 based on qualified educational expenses for the first two tax years of post secondary education. Resources See Also Further Reading Hope Scholarship Tax Credit in the West's Tax Law Dictionary Hope […]

  • Home Equity Debt

    Description and Definition of Home Equity Debt Debt secured by a principal residence or second home to the extent of the excess of the loan above the loan used to buy, build or substantially improve the property. You can deduct as an itemized deduction the interest on home equity debt up to […]

  • Home Office

    Home Office means:an office in the taxpayer's residence used exclusively for business on a regular and continuing basis. The office must be the taxpayer's principal place of business (i.e., where the majority of his or her work is performed) or serve as a place to meet customers […]

  • Household Employee

    Description and Definition of Household Employee Someone you employ in your household to care for your children, clean your house, cook, or provide other household services. If you have a household employee you may be obligated to withhold and pay Social Security and Medicare taxes (FICA). You […]

  • Horizontal Equity

    Description and Definition of Horizontal Equity "Equals should be taxed equally." Horizontal equity says that people in the same income groups should be taxed at the same rate. Resources See Also Further Reading Horizontal Equity in the West's Tax Law Dictionary Horizontal […]

  • Home

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

  • Housing Assistance Tax

    Housing Assistance Tax Act of 2008 Issue You may find information about Housing Assistance Tax Act of 2008 in this Tax Platform of the American Encyclopedia of Law.

  • Hobby Loss

    Hobby Loss means:a loss incurred by a taxpayer in an activity not pursued for profit. In general, hobby losses are deductible only to the extent of income generated by the hobby. If an activity generates a loss in 3 of 5 years, there is a rebuttable presumption that it is not operated […]

  • Holding Period

    Holding Period means:the length of time that an investment is owned or expected to be owned. The holding period is important in determining whether a gain or loss from the sale or exchange of a capital asset is long-term or short-term. For tax purposes, the holding period generally […]

  • Home Sate Exemption

    . Age 55 Or Over Home Sate Exemption It was the right of an individual age 55 or over to sell, once in a lifetime, a principal residence at a gain and to exclude up to $125,000 of this gain from taxation, regardless of whether or not another home is purchased. The individual must have…