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120 Results for Tag: taxes

Kiddie Tax

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

Harmonized Sales Tax – HST

DefinitionThe harmonized sales tax is a consumption tax in Canada. It is used in provinces where both the federal goods and services tax and the regional provincial sales tax have been combi

Hardship Withdrawal

Hardship Withdrawal What is 'Hardship Withdrawal' An emergency withdrawal from a retirement plan that may be subject to certain tax or account penalties. In the United States, funds withdr

Impound

Impound What is 'Impound' An account maintained by mortgage companies to collect amounts such as hazard insurance, property taxes, private mortgage insurance and other required payments fr

Incentive Fee

Definition of an Incentive Fee An incentive fee, also known as a performance fee, is a fee which a client fund may be charged by the investment manager that manages its assets. The cost of

Import Duty

Import Duty What is an 'Import Duty ' Import duty is a tax collected on imports and some exports by the customs authorities of a country. It is usually based on the value of the goods tha

National Insurance Contributions (NIC)

National Insurance Contributions (NIC) What is 'National Insurance Contributions - NIC' Payments made by employees and employers into the United Kingdom's National Insurance (NI). National

Nanny Tax

DefinitionThe combination of payroll taxes withheld from a household employee and the employment taxes paid by their employer are commonly referred to as the nanny tax. Under current law, an

Offer In Compromise

DefinitionThe Offer in Compromise program, in the United States, is an Internal Revenue Service program under which allows qualified individuals with an unpaid tax debt to negotiate a settle

Offsetting Transaction

Offsetting Transaction What is an 'Offsetting Transaction' In trading, an activity that exactly cancels the risks and benefits of another instrument in the portfolio. An offsetting transac
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