DefinitionThe kiddie tax rule exists in the United States of America and can be found in Internal Revenue Code § 1, which "taxes certain unearned income of a child at the parent's marginal

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 all property ac

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 or her gross income in arriving at

Accelerated Cost Recovery System (ACRS) What is 'Accelerated Cost Recovery System - ACRS' A system of depreciation introduced by the Economic Recovery Tax Act of 1981. ACRS depreciation is

Ratable Accrual Method What is 'Ratable Accrual Method' A method for determining when and how much income was earned over a period of time. The ratable accrual method can be used to comput

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 t

DefinitionHead of Household is a filing status for individual United States taxpayers. Head Of Household What is 'Head Of Household' A status held by the person in a household who is runni

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

Qualified Widow Or Widower What is 'Qualified Widow Or Widower' The least common of the five types of tax filing status each taxpayer must select from when preparing their personal tax ret

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