Tag: SM
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Small Business Administration
Description and Definition of Small Business Administration (SBA) The U.S. Government agency that provides low interest loans to small businesses. Resources See Also Further Reading Small Business Administration (SBA) in the West's Tax Law Dictionary Small Business Administration (SBA) in […]
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Small Tax Case
Small Tax Case means:a case in which the tax deficiency and the penalties in dispute or the claimed overpayments are $10,000 or less. The Tax Court has special procedures for the handling of cases in which the taxpayer chooses to file as a small tax case. Taxpayers may represent themselves befor…
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Small Business Investment Company
Small Business Investment Company means:a company (SBIC) operating under the Small Business Investment Act of 1958. A loss on the sale of small business investment company stock is treated as an ordinary trade or business loss….
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Small Business Corporation
Small Business Corporation means:a business entity (like a corporation or company) satisfying the conditions in Former IRC (check if this IRC provision is current here) § 1244(c)(3) and/or 1361(b). Satisfaction of § 1244(c)(3) allo…
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Small Cases Division
Small Cases Division means:a Tax Court division in which taxpayers whose disputed tax liability does not exceed $10,000 can try their cases on a less formal basis than otherwise is possible….
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Small Business Corporation Stock
Small Business Corporation Stock means:stock for which ordinary deduction treatment is available to certain individuals and partnerships on the sale of the stock or bankruptcy of the company. This ordinary deduction (rather than a capital loss) is available on disposition or worthlessness of Sec…
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Small Tools
The Small Tools are. tools that are deductible if expected to last for only 1 year or less, subject to the 2% Adjusted Gross Income floor….