Tag: PA

  • Patient Protection

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

  • Passive Activity

    Passive Activity means:a term introduced by the Tax Reform Act of 1986; generally, any rental activity is considered passive, as is any other activity in which the investor does not materially participate. With certain exceptions, losses generated by passive activities may not be used to […]

  • Passive Income

    Description and Definition of Passive Income Income from a passive activity. You can offset a passive loss against your passive income. You cannot offset a passive loss against ordinary income. Resources See Also Further Reading Passive Income in the West's Tax Law Dictionary Passive […]

  • Payroll Tax

    Description and Definition of Payroll Tax A tax based on wages, tips, and salaries paid. Your employer deducts a certain amount from your paycheck and pays the rest of these taxes. This tax money funds many finance specific programs. Federal, state, and local governments collect payroll taxes […]

  • Partnership

    Partnership means:an organization of two or more persons (individuals or companies) who pool some or all of their resources, abilities, and skills in a business and divide the profit or loss in predetermined proportions. Association of two or more person formed for the purpose of making […]

  • Pay

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

  • Passive Loss

    Description and Definition of Passive Loss Loss from a passive activity. Passive activities are investments in which you do not materially participate. Deduction of losses from passive activities is limited to the total of income from other passive activities. Passive losses generally […]

  • Parsonage Allowance

    Parsonage Allowance means:the rental value of a home or a rental allowance paid to a minister of the gospel, which, for regular income tax purposes, is excluded from gross income to the extent that it is expended for the costs of providing a home. The parsonage allowance is, however, […]

  • Payment-in-Kind Wages

    Description and Definition of Payment-in-Kind Wages (PIK) Payment for labor to farm employees of farm commodities such as livestock, fruits, vegetables, or other food instead of cash wages. The value of Payments-in-Kind must be reported on the employee's W-2 form. Resources See Also […]

  • Patronage Dividend

    Patronage Dividend means:a payment to a patron of a cooperative that is (1) based on the quantity or value of the business done with or for that patron, (2) made under an obligation of the cooperative to pay such amount, and (3) determined by reference to the net earnings of the […]