Tag: MI

  • Mid-quarter Convention

    Mid-quarter Convention means:a convention whereby property is deemed to be placed in service at the midpoint of a quarter for depreciation purposes. In general, business property is depreciated under a midyear rule that allows half a year's depreciation for the first year, whether […]

  • Miscellaneous Itemized Deductions

    Miscellaneous Itemized Deductions means:job expenses and other miscellaneous expenses that are deductible by individual taxpayers but are not categorizable as medical expenses, taxes, interest, charitable contributions, casualty and theft losses, or moving expenses. Most miscellaneous […]

  • Mid-month Convention

    Mid-month Convention is used. with respect to depreciating residential and nonresidential real property and railroad grading or tunnel bore, a convention whereby property is deemed placed in service or disposed of at the midpoint of the calendar month in which it was placed in service or […]

  • Minimum Wage

    Description and Definition of Minimum Wage The lowest compensation an employee can receive for hourly work. It is defined by Federal and by state laws. State laws may require higher pay than Federal law. Resources See Also Further Reading Minimum Wage in the West's Tax Law Dictionary […]

  • Miscellaneous

    Miscellaneous Below are articles related to miscellaneous subjects. Alternative Filing Methods Age-Name-SSN Rejects, Errors, Correction Procedures (IRS FAQ) Amended Returns (IRS FAQ) Due Dates & Extension Dates for e-file (IRS FAQ) Electronic Filing Electronic Signatures Filing Business Returns Electronically Forms W-2 & Other Attachments (IRS FAQ) How to Choose a Paid Tax Preparer Substitute Tax…

  • Miscellaneous Payroll Period

    About Miscellaneous Payroll Period: for purposes of employer withholding of federal income tax from employees' compensation, any payroll period that is not daily, weekly, biweekly, semimonthly, quarterly, semiannual, or annual. Withholding amounts for the foregoing periods may be ascertained from ta…

  • Michigan Education Trust

    About Michigan Education Trust: The Michigan Education Trust (MET) is an arrangement under which individuals pay certain actuarially determined amounts, which are invested by the state; in return, the MET guarantees the college tuition of every beneficiary at a Michigan state-operated university or …

  • Midnight Deadline

    Midnight Deadline means:a completion requirement ending at midnight, which marks the end of a calendar day (such as April 15 for personal tax returns)….

  • Minimum Tax Credit

    Minimum Tax Credit means:a credit or other debt instrument allowed for the adjusted net minimum tax paid in a prior year, against the regular tax liability for the current year. For individuals, the adjusted net minimum tax is the alternative minimum tax reduced by the tax on exclusion-type pref…

  • Ministerial Act

    Ministerial Act means:a procedural or mechanical act, not involving the exercise of judgment or discretion, that occurs during the processing of a taxpayer's case after all prerequisites have taken place. The U.S. Internal Revenue Service may reduce interest assessed when the assessment is due t…