Tag: PE
-
Personal Interest Expense
Personal Interest Expense means:any interest that is not home mortgage interest, investment interest, or business interest. The deduction for personal interest expense was gradually phased out by the 1986 Tax Reform Act and completely eliminated after 1990. Description and Definition of […]
-
Personal Identification Number
About Personal Identification Number: The Personal Identification Number (PIN) allow taxpayers to “sign” their tax returns electronically. The PIN, a five-digit self-selected number, ensures that electronically submitted tax returns are authentic. Most taxpayers can qualify to use a PIN….
-
Petitioner
About Petitioner: Petitioner (plaintiff) is the party requesting action in a court. A taxpayer is quite often the petitioner in a tax dispute. If the government petitions a higher court, however, the U.S. Internal Revenue Service becomes the petitioner (plaintiff or appellant)….
-
Personal Holding Company
About Personal Holding Company: Personal Holding Company (PHC) was a corporation (1) that derives more than 60% of its gross income, after certain adjustments, from investment sources such as dividends, interests, rents, and royalties, and from certain personal service contracts, and (2) of which mo…
-
Perquisite
About Perquisite: Perquisite (perk) is any of a number of privileges granted to employees in addition to basic wages and salaries. Perquisites may include ordinary employee benefits (fringe benefits) such as health insurance and pensions, but the term is more often used to apply to executive perks s…
-
Pension distribution
About Pension distribution: Pension distributions are payments to employees from an employer-funded retirement plan for past services. Individuals with IRAs also receive distributions. Also see Retirement Plan….
-
Pension contributions
About Pension contributions: Pension contributions are amounts paid into funds by either employees or by their employers on their behalf. Individuals with IRAs also make contributions. Also see Retirement Plan….
-
Per Capita
Per Capita (latin legal term) means:Latin for “for each person”; used to indicate that an equal division of an estate to each person, irrespective of relationship to the decedent, is required. Contrast per stirpes….
-
Per Diem
Per Diem (latin legal term) means:Latin for “by the day”; referring to daily allowance, usually for travel, entertainment, employee compensation, or miscellaneous out-of-pocket expenses incurred while conducting a business transaction. The sum of money is always calculated on a daily basis and m…
-
Per Curiam
Per Curiam (latin legal term) means:Latin for “by the court”; referring to a judicial decision handed down by the entire court, rather than by one judge….