Tag: taxes
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...
Abacus
What is 'Abacus' 1. A calculation tool used by sliding counters along rods or grooves, used to perform mathematical functions. In addition...
Abusive Tax Shelter
What is 'Abusive Tax Shelter' An investment scheme that claims to reduce income tax without changing the value of the user's income...
Abatement
What is 'Abatement' Abatement is a reduction in the level of taxation faced by an individual or company. Examples of an abatement...
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...
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 Per Share
What is 'Sales Per Share' Sales per share is a ratio that computes the total revenue earned per share over a 12-month...
Sales Tax
What is sales tax and why do we have it
Sales tax is a tax levied on the sale of goods and services. The tax...
Back Taxes
DefinitionBack taxes is a term for taxes that were not completely paid when due. Typically, these are taxes that are owed from a prior...
Canadian Income Trust
What is 'Canadian Income Trust' A type of corporate structure as designated by the Canada Revenue Agency that operates as a profit-seeking...