Tag: SE

  • Section 1245

    Section 1245 means:the part of the Internal Revenue Code that deals with gains from personal property (e.g., machines, equipment, furniture, and automobiles) on which depreciation has been claimed. Generally, gains are taxed at capital gain rates except to the extent of the depreciation […]

  • Self Employment

    Seca (Self Employment Contribution Act of 1954) Issue You may find information about Seca (Self Employment Contribution Act of 1954) in this Tax Platform of the American Encyclopedia of Law.

  • Series EE Bonds

    Description and Definition of Series EE Bonds U.S. Savings Bonds issued after 1979. Most people defer the federal income taxes on these bonds until they are redeemed or they mature. However, you can elect to pay the taxes each year. Savings bonds are not taxed by state or local governments. […]

  • Section 179

    Section 179 means:the part of the Internal Revenue Code that allows immediate expensing, up to $17,500 per year, of tangible depreciable property in the year that it was placed in service. The amount allowed as a deduction is limited to the aggregate amount of the taxpayer's taxable income for t…

  • Separate Return Limitation Year

    About Separate Return Limitation Year: The Separate Return Limitation Year (SRLY) was a taxable year during which a subsidiary corporation was not a member of an affiliated group or a subsidiary and the remaining members of the group claimed multiple surtax exemptions. The SRLY rule limits the carry…

  • Securities and Exchange Commission

    About Securities and Exchange Commission: The Securities and Exchange Commission (SEC) is the federal agency created in 1943 to carry out the provisions of the Securities Exchange Act. Generally, the agency seeks to protect the investing public by preventing misrepresentation, fraud, manipulation, a…

  • Self-employment Contributions Act

    About Self-employment Contributions Act: Self-employment Contributions Act (SECA) is the federal law that provides for the imposition of the self-employment tax….

  • Settlement Date

    About Settlement Date: Real estate. The date when property is purchased (or sold) and the deed is transferred. Securities. The date by which an executed order must be settled, either by a buyer paying for the securities with cash or by a seller delivering the securities and receiving the proceeds of…

  • Separate Basis Approach

    Separate Basis Approach is used. with respect to an S corporation, an approach, whereby the basis of each shareholder's stock is increased by his or her pro rata portion of the corporation's positive and negative adjustment items, determined on a per share, per day basis. Former IRC (check <a href="…

  • Self-employed

    Self-employed is a legal term that is. referring to persons who work for themselves and are not employed by another. The owner-operator of a sole proprietorship or a partner in a partnership is considered self-employed. Self-employed persons assume all the risks and responsibilities of a business en…