Tag: ST
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Stock Option
Stock Option may have one of the following meanings, depending the context of the term: 1. the right to purchase or sell a stock at a specified price within a stated period. Options are a popular investment medium, offering an opportunity to hedge positions in other securities, to speculate in […]
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Stock
Stock means:any shares representing ownership in any corporation or certificates or ownership interest in any corporation. Description and Definition of Stock Stock evidences an ownership interest in a corporation. Resources See Also Further Reading Stock in the West's Tax Law […]
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Standard Deduction
Standard Deduction means:a provision that allows a taxpayer to deduct, in lieu of itemized deductions, a certain amount of income from his or her gross income. Reduces, therefore, the income subject to tax and varies depending on filing status, age, blindness, and dependency. These […]
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Stock Dividend
Stock Dividend means:the payment of a corporate dividend in the form of stock rather than cash. In other words, a dividend distribution by a company to its shareholders in the form of additional shares in the company. Often a stock dividend is not taxable, but in certain situations it […]
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Stepped-up Basis
Stepped-up Basis means:a process by which a person's tax basis is increased to a certain level (usually the fair market value) as of a certain date. A stepped-up basis generally applies to property received by an heir from a decedent. Former IRC (check if this IRC provision is […]
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Statement
Description and Definition of Profit and Loss Statement Also known as an income statement, it shows a businesses revenue and expenses for a specific period of time. The difference between the total revenue and the total expense is the businesses net income. Resources See Also Further Reading […]
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Straight Line Depreciation Method
Description and Definition of Straight Line Depreciation Method A depreciation method that spreads the cost or other basis of an asset on a pro rata basis over its useful life. Resources See Also Further Reading Straight Line Depreciation Method in the West's Tax Law Dictionary Straight […]
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Statutory Employee
Statutory Employee means:an individual who is not an employee under common law rules but falls into one of the following categories: • an agent or commissioned driver. • a full-time life insurance salesperson. • an individual who works at home with materials or goods and […]
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Stock Split
Description and Definition of Stock Split There are two types of stock splits – forward splits and reverse splits. Forward splits increase the number of shares outstanding. For instance, in a Forward Split, if a stock splits 2-for-1, and you hold 1 share before the split, after the split you […]
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Student Loan Interest
Description and Definition of Student Loan Interest Interest on college loans can be deducted as an adjustment to income. To qualify for the deduction the debt had to be incurred to pay higher education expenses for you, your spouse, or your dependent. Resources See Also Further Reading […]