Tax

Tag: SE

  • 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…

  • Section 197 Intangibles

    Section 197 Intangibles are. certain intangibles, acquired in connection with a trade or business for the production of income, for which a deduction for amortization is allowed. Such property includes any of the following: • goodwill and going-concern value. • intangible property that rel…

  • Senate Finance Committee

    Senate Finance Committee means:a committee of the U.S. Senate that hears proposed new tax laws. New tax legislation normally originates in the House Ways and Means Committee, and the House bill then goes to the Senate Finance Committee. see Tax Code in the U.S….

  • Search Warrant

    Search Warrant means:a document used by the IRS's Criminal Investigation Division to seize a taxpayer's property (e.g., business and personal books, records, and legal documents) at a specified location. Former IRC (check if this IRC pro…

  • Separation Instrument

    Separation Instrument means:A Divorce or Separation Instrument is: 1. a decree of divorce or separate maintenance, or a written instrument incident to that decree. 2. a written separation instrument. 3. a decree or any other type of court order requiring a spouse (or former spouse) to make payme…

  • Security Deposit

    Security Deposit means:a nontaxable cash payment received by a landlord to be held during the term of a lease to offset damages incurred by actions of a tenant. If the tenant violates the lease, the landlord may apply the deposit amount as rent, and the security deposit becomes taxable income….

  • Section 401(k) Plan

    Section 401(k) Plan means:a plan that allows an employee to contribute pretax earnings to a company pool, which is invested in stocks, bonds, or money market instruments; also known as a salary reduction plan. The contributions as well as earnings on them are taxed only when withdrawn. Annual co…

  • Series E Bond

    Series E Bond means:a savings bond issued by the U.S. government from 1941 to 1979. Series EE bond is a piece of paper showing that an individual has agreed to lend money to the U.S. Government and that the government agrees to back amount back with extra money (interest) when individual decides…

  • Separate Share Rule

    Separate Share Rule means:a rule that treats each beneficiary as a separate trust when one trust has several beneficiaries. Former IRC (check if this IRC provision is current here) §663(c)….

  • Section 501(c)(18) Plan

    Section 501(c)(18) Plan means:a retirement trust created before June 25, 1959, and funded only by contributions of employees. Such a trust is specifically exempted from taxation….