The meaning of INCOME TAX is a tax on the net income of an individual or a business. How to use income tax in a sentence.
Tax creditsandtax deductionsare the superheroes of the tax world, swooping in to save taxpayers money. But they operate differently. Deductions reduce the amount of income subject to tax, while credits directly reduce the amount of tax owed. For instance, a $1,000 tax deduction might save so...
The meaning of INCOME TAX is a tax on the net income of an individual or a business. How to use income tax in a sentence.
Definition of income tax noun in Oxford Advanced Learner's Dictionary. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more.
Income tax definition: a tax levied on incomes, especially an annual government tax on personal incomes.. See examples of INCOME TAX used in a sentence.
Define income tax. income tax synonyms, income tax pronunciation, income tax translation, English dictionary definition of income tax. n. A tax levied on net personal or business income. American Heritage® Dictionary of the English Language, Fifth Edi
overtax short-term gain declare inheritance tax port of registry underreport tax exempt payroll tax direct tax ad valorem tax imputed value chargeable tax year taxman capital gain excise death duties tax evasion taxpayer net income return levy tax credit duty tax...
Is There a Standard Definition of Income? The definition of income depends on the context in which the term is used. For example, tax law uses the concepts of gross income, which includes all income in all its forms, and taxable income, which is gross income net of expenses and other ad...
theTax Reform Act of 1986. The difficulty with this answer is that under many circumstances it is unfair to the taxpayer and may also have undesirable economic effects. If capital gains that have accrued over a number of years are taxed at regular progressive income tax rates in the year of...
Definition of income tax in the Financial Dictionary - by Free online English dictionary and encyclopedia. What is income tax? Meaning of income tax as a finance term. What does income tax mean in finance?