Tag: deduction

Kiddie Tax

DefinitionThe kiddie tax rule exists in the United States of America and can be found in Internal Revenue Code § 1, which "taxes certain...

Half-Year Convention For Depreciation

Half-Year Convention For Depreciation What is the 'Half-Year Convention For Depreciation' The half-year convention for depreciation is the depreciation schedule that treats...

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...

Accelerated Cost Recovery System (ACRS)

Accelerated Cost Recovery System (ACRS) What is 'Accelerated Cost Recovery System - ACRS' A system of depreciation introduced by the Economic Recovery...

Ratable Accrual Method

Ratable Accrual Method What is 'Ratable Accrual Method' A method for determining when and how much income was earned over a period...

Charitable Contributions Deduction

Charitable Contributions Deduction Charitable contributions deduction is a tax incentive offered to individuals that donate sums to a recognized charity. The tax deduction allows...

Head Of Household

DefinitionHead of Household is a filing status for individual United States taxpayers. Head Of Household What is 'Head Of Household' A status...

Qualified Production Activities Income (QPAI)

Qualified Production Activities Income (QPAI) What is 'Qualified Production Activities Income - QPAI' Income derived from domestic production that qualifies for...

Qualified Widow Or Widower

Qualified Widow Or Widower What is 'Qualified Widow Or Widower' The least common of the five types of tax filing status each...

Qualified Charitable Organization

Qualified Charitable Organization What is 'Qualified Charitable Organization' A nonprofit organization that qualifies for tax-exempt status according to the U.S. Treasury. Qualified...

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