What Does Tax Withholding Mean? Contents[show] Withholding is a business term that commonly indicates a tax-related transaction. It normally takes place when an employee is getting paid and the company withholds a portion of its payment to meet federal, state or even municipal tax commitments. T...
What Does the Term "Income Tax Payable" Mean? “Income tax payable” is a financial accounting term for the current liability reported on an organization’s balance sheet. It indicates the taxes that the organization expects to pay within 12 months. What Does Income Tax Expense Represent? “In...
1099-LTC: Long-Term Care and Accelerated Death Benefits Reports payments under a long-term care insurance contract. Also shows accelerated death benefits paid under a life insurance contract or by a viatical settlement provider.Received payments from a long-term care insurance policy. Due Date to ...
If you have income that isn't subject to tax withholding, such as self-employment earnings, rental income, interest, dividends or gig economy work, there's another tax deadline looming on April 15. Kimberly LankfordApril 7, 2025 What Is the Earned Income Tax Credit?
What are the requirements to be a guarantor? The primary purpose of the legal reserve requirement is to What is IRR? What is a demand deposit? What does the term "reserve" mean? Should a reserve amount be included in a project proposal? Explain your answer. ...
There’s a lot of misinformation out there about filing taxes, and blindly following someone else’s bad tax advice could get you into hot water. Here are 10 of the most common tax myths—and what you can do to protect yourself from believing in them.
What does the term residual risk mean? What does business acumen mean? What does it mean to be market-oriented? What is flexing in budgeting? What does tax deductible mean? Opportunity cost refers to what? What is the meaning of skimming in business?
What does working capital mean? Working capital is the difference between a business’s current assets (e.g., cash, accounts receivable, and inventories) and current liabilities (e.g., accounts payable and short-term debt). It’s an essential financial metric that helps ensure a company has...
The terms separation pay and severance pay are used interchangeably in most cases. Some companies may make a distinction between the two, but that is an internal decision unique to the company. Whichever term is used, the company’s policies should clearly state what will happen upontermination....
What does working capital mean? Working capital is the difference between a business’s current assets (e.g., cash, accounts receivable, and inventories) and current liabilities (e.g., accounts payable and short-term debt). It’s an essential financial metric that helps ensure a company has...