Tag: contribution
National Insurance Contributions (NIC)
What are National Insurance Contributions (NIC)?
National Insurance contributions (NIC) are payments made by employees and employers into the National Insurance scheme. The money is...
Above The Line Deduction
DefinitionIn the United States tax law, an above-the-line deduction is a deduction that the Internal Revenue Service allows a taxpayer to subtract from his...
Roth IRA
Roth IRA can be defined as a tax advantage retirement account. It is offered by the U.S. government. This account includes stocks, bonds, Certificate...
Sales Mix Variance
What is the 'Sales Mix Variance' Sales mix variance is the difference between a company’s budgeted sales mix and the actual sales...
Salary Reduction Contribution
What is a salary reduction contribution
A salary reduction contribution is an arrangement between an employer and an employee whereby the employee agrees to have...
Salary Reduction Simplified Employee Pension Plan (SARSEP)
What is 'Salary Reduction Simplified Employee Pension Plan - SARSEP' A plan offered by small companies - typically those with fewer than...
Savings Incentive Match Plan For Employees Of Small Employers (SIMPLE)
What is 'Savings Incentive Match Plan For Employees Of Small Employers - SIMPLE' A retirement plan that may be established by employers,...
Charitable Contributions Deduction
Charitable contributions deduction is a tax incentive offered to individuals that donate sums to a recognized charity. The tax deduction allows taxpayers to reduce...
Canada Education Savings Grant (CESG)
What is 'Canada Education Savings Grant - CESG' A grant from the Government of Canada paid directly into a beneficiary's Registered Education...
Canada Pension Plan (CPP)
What is the Canada Pension Plan (CPP)?
The Canada Pension Plan (CPP) is a government-sponsored retirement savings program. It is a defined benefit pension plan,...