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Tax Glossary
What Is an “Education Savings Account”?
An Education Savings Account (ESA), formally known as a Coverdell ESA and formerly called an Education IRA, is a tax-advantaged...
Tax Glossary
What Is an “Education Credit”?
An education credit is a U.S. federal tax benefit designed to directly reduce your income tax liability based on money...
Tax Glossary
What Is “Donor-Advised Fund”?
A donor-advised fund (DAF) is a specialized investment account managed by a public charity that allows you to combine your...
Tax Glossary
What Is “Donor Acknowledgment”?
A donor acknowledgment is a formal written statement or letter provided by a charitable organization to an individual or business...
Tax Glossary
What Is “Distributable net income”?
Distributable net income (DNI) is a tax metric used to determine the maximum amount of income from a trust or...
Tax Glossary
What Is a “Digital Asset”?
A digital asset is any digital representation of value that is recorded on a cryptographically secured distributed ledger, such as...
Tax Glossary
What Is the “Digital Asset Question”?
The digital asset question is a mandatory compliance disclosure box located at the absolute top of page one on U.S....
Tax Glossary
What Is “Destination-Based Sales Tax”?
Destination-based sales tax is a tax sourcing method where the final sales tax rate is determined entirely by the location...
Tax Glossary
What Is “Decentralized Finance”?
Decentralized Finance, commonly abbreviated as DeFi, is an umbrella term for a peer-to-peer financial ecosystem that allows users to trade,...
Tax Glossary
What Is Deceased Spousal Unused Exclusion (DSUE)?
The Deceased Spousal Unused Exclusion (DSUE) is the remaining portion of a deceased spouse’s federal estate tax exemption that can...