Tax

Tag: TR

  • Travel and Entertainment Expenses

    About Travel and Entertainment Expenses: Travel and Entertainment (T&E) Expenses are ordinary and necessary business expenses paid while traveling away from home for a business, profession, or job. An ordinary expense is one that is common and accepted in a given business, trade, or profession. A ne…

  • Trade Date

    Trade Date means:a date that is generally 5 business days before the settlement date of a securities transaction. For taxpayers who buy and sell stock on a securities market, the holding period begins the day after the trade date, and these persons must recognize gains and losses on the trade da…

  • Trial Court

    Trial Court means:a court of original jurisdiction of a tax dispute. Tax cases start in the U.S. Tax Court, U.S. Court of Federal Claims, and U.S. District Court….

  • Trust Instrument

    Trust Instrument means:a legal document that creates a trust and stipulates its terms, trustee, beneficiaries, income, and corpus disposition….

  • Treasury Bond

    Treasury Bond means:a long-term (more than 10-year) debt instrument issued by the U.S. government. Issues of the U.S. government have the highest rating among the so-called fixed-income or debt securities and therefore offer the lowest taxable yield of any bonds. Interest on U.S. Treasury securi…

  • Transmitter

    Transmitter means:a person who sends the electronic return data, who provides transmission services to electronic filers for sending, directly to the IRS. Transmit is to send a tax return to the IRS electronically. Tax returns prepared on paper can be sent through the mail. See <a href="http://l…

  • Transient Worker

    Transient Worker means:a person who moves from job to job, maintains no fixed home, and is not associated with any particular business locality. Each place he or she works becomes the main place of business and the tax home. A transient worker cannot deduct expenses for meals and lodging….

  • Trustee

    Trustee means:a person who holds the legal title to trust property for the benefit of the beneficiary and is responsible for administering this property for the benefit of the beneficiary. See: Trust….

  • Trustor

    Trustor means:a person who creates a trust, often called the settlor or grantor….

  • Trader

    Trader means:a person who actively buys and sells securities in such a volume as to constitute a trade or business for tax purposes. A trader does not have an investment expense limitation and is not subject to the 2% floor for miscellaneous itemized deductions or the 3% phase-out of itemized de…