Tag: IN

  • Indirect Tax

    About Indirect Tax: A tax that can be shifted to others, such as sales taxes, VAT (in Europe and other regions) and business property taxes. See Indirect Tax in the U.S. Reference and Indirect Tax in the International reference. U.S. and other Developed Countries International Tax Meaning Tax […]

  • Insurance Returns

    Transmittal of Employer-Provided Health Insurance Offer and Coverage Insurance Returns, I.R.S. Form 1094-C Issue You may find information about Transmittal of Employer-Provided Health Insurance Offer and Coverage Insurance Returns, I.R.S. Form 1094-C in this Tax Platform of the American […]

  • Investment Interest Expense

    Investment Interest Expense means (see more about entries related to interest in the U.S. here) interest paid to carry portfolio investments such as bonds, stocks, and undeveloped land. (Investment interest is Interest paid on loans used for investment purposes, such as to buy stock on […]

  • Incentive Stock Option

    About Incentive Stock Option: The Incentive Stock Option (ISO) is an equity-type compensation plan under which qualifying stock options are free of tax at the date of grant and the date of exercise but are taxed when sold. Only $100,000 of ISOs can be exercised in one year, and a number of […]

  • Individual Retirement Arrangement

    Description and Definition of Individual Retirement Arrangement (IRA) A retirement account to which $2,000 or 100% of the compensation you earned during the year, whichever is less, may be contributed annually. Deductions for the contribution are restricted if you are covered by a company […]

  • Inter Vivos Trust

    Description and Definition of Inter Vivos Trust A lifetime trust. An Inter Vivos Trust is created during the lifetime of the benefactor, as opposed to a testamentary trust that is created after the death of the benefactor. If irrevocable, income on the trust principal is shifted to the trust […]

  • Insurance Contributions

    Description and Definition of Federal Insurance Contributions Act (FICA) The Federal Insurance Contributions Act (FICA) consists of both a Social Security (retirement) tax and a Medicare (hospital insurance) tax. The tax is levied on employers, employees, and certain self-employed individuals. […]

  • Inventory

    Inventory means:property held for sale or for use in the manufacture of goods held for sale. Such property does not qualify for capital gains treatment. Examples of inventory are: • raw materials. • work-in-progress. • supplies used in operations. • finished goods. […]

  • Independent Contractor

    Independent Contractor means:a contractor who is self-employed. The contracting party need not withhold Social Security taxes and federal income tax; the independent contractor is subject to the self-employment tax. Former Revenue Ruling (check if this Rev. Rul. interpretation is […]

  • Interest Income

    Interest Income may have one of the following meanings, depending the context of the term: 1. income derived from an investment on which the payments reflect the time value of money. 2. income derived from transactions in which the payments are for the use or forbearance of money. Description […]