Tag: SE

  • Self Employed Person

    Description and Definition of Self Employed Person An individual who operates a trade, business, or profession as a proprietor or independent contractor. Self employment income is reported on Schedule C. Resources See Also Further Reading Self Employed Person in the West's Tax Law […]

  • Severance Pay

    Severance Pay means:an income bridge provided by some employers for employees going from employment to unemployment. Severance pay is taxable in the year received. Description and Definition of Severance Pay Money paid by an employer at the end of employment. Severance pay is taxable. […]

  • Section 1231 Property

    Description and Definition of Section 1231 Property Long term depreciable property used in a trade or business such as equipment, vehicles, and rental real estate. Provided Section 1231 assets are held for the required period of time capital gain treatment is available on a profit upon the […]

  • Seizure

    Seizure of Residence or Business Issue You may find information about Seizure of Residence Or Business in this Tax Platform of the American Encyclopedia of Law.

  • Self-Employment Tax

    Self-employment Tax means: a provision for Social Security (old-age, survivor's and disability insurance) and Medicare hospital insurance for self-employed individuals.Self-employment tax is similar to Social Security and Medicare taxes. It is an amount of tax paid by a taxpayer who is […]

  • Separate Return

    Description and Definition of Separate Return A return filed by a married person who does not file a joint return with their spouse. Depending on each spouses income and deductions filing separately may save taxes, but certain tax benefits are lost. Resources See Also Further Reading Separate […]

  • Section 179 Expense Deduction

    Description and Definition of Section 179 Expense Deduction Also known as the First Year Expensing, Section 179, lets you treat up to $19,000 of expenditures that normally would be depreciated over a number of years as current business expenses that you can deduct immediately. Larger […]

  • Section 457 Plan

    Section 457 Plan means:a deferred-compensation plan established by state and local governments and tax-exempt organizations that allows tax-free deferral of salary up to the lesser of $7,500 or one-third of salary. Description and Definition of Section 457 Plan A deferred compensation […]

  • Securities

    Securities means:any shares of stock in any corporation, certificates of stock or interest in any corporation, notes, bonds, debentures, or evidence of indebtedness, or any evidence of an interest in or right to subscribe to or for the purchase of any of the foregoing. U.S. and other […]

  • Section 1250

    Section 1250 means:the part of the Internal Revenue Code that deals with gains from real estate on which accelerated depreciation has been claimed. Gains on residential properties are generally treated as capital gains except to the extent of the accelerated depreciation claimed. Gains […]