Also found in: Dictionary, Thesaurus, Financial, Acronyms, Encyclopedia, Wikipedia. Related to income tax: Income Tax RatesIncome Tax A charge imposed by government on the annual gains of a person, corporation, or other taxable unit derived through work, business pursuits, investments, property ...
Income tax is usually paid on a progressive scale so that the greater the individual's earnings, the greater the rate of tax which is levied, up to some predetermined upper limit (currently 40% in the UK); low levels of income are usually tax exempt (by granting individuals an INCOME ...
Poverty in United States [pic]Poverty in theUnitedStatesFrom Wikipedia‚ the free encyclopedia Jump to: navigation‚ search |[pic] |Parts of this article (those related to the 2010 poverty definition reform) are outdated. Please update this article to | | |reflect recent events or newly av...
You could even relocate to one of the nine no state income tax states to save. However, the most straightforward approach to avoid estate taxes upon death is to gradually spend down your wealth or gift as much of it away while you're still alive. Oh, and of course, die in a state...
tax lien - lien of which a tax collector may avail himself in default of taxes (analogous to a judgment lien) lien - the right to take another's property if an obligation is not discharged federal tax lien - lien of the United States on all property of a taxpayer who fails to pay th...
benefit paid to an individual or business, whether it be earned as a result of personal services or business activities or produced by investments and capital assets. The valuation of gross income is the first step in computing whether any federal or state income tax is owed by the recipient....
Gender and Income Inequality.Good to know that the income gap between men and women appears to be shrinking. More on this discussion in our post ontraditional jobs for men and women. Taxes and Income Inequality.It also does not look like tax rates have had as much influence on the income...
For federal income tax purposes, the optimal legal form of organization has been a concern of small business owners for many years. Under the United States (U.S.) federal income tax code, there are two basic forms of business entities: C corporations and flow-through entities. The income ea...
Gross income in United States tax law is receipts and gains from all sources less cost of goods sold. Gross income is the starting point for determining Federal and state income tax of individuals, corporations, estates and trusts, whether resident or nonresident. ...
Gross income in United States tax law is receipts and gains from all sources less cost of goods sold. Gross income is the starting point for determining Federal and state income tax of individuals, corporations, estates and trusts, whether resident or nonresident. ...