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Tax Glossary
What Is an Inherited IRA?
An Inherited IRA—also known legally as a Beneficiary IRA—is a specialized retirement account opened when an individual receives a traditional...
Tax Glossary
What Is an Individual Retirement Arrangement?
An Individual Retirement Arrangement, commonly known as an IRA, is a personal, tax-advantaged account that allows individuals to save money...
Tax Glossary
What Is an Indirect Rollover?
An indirect rollover is a method of moving assets from one tax-advantaged retirement account to another where the funds are...
Tax Glossary
What Is “ HSA distribution ”?
An HSA distribution is any withdrawal of funds from your Health Savings Account. When you take money out of this...
Tax Glossary
What Is “ High deductible health plan ”?
A High-Deductible Health Plan (HDHP) is a type of health insurance policy characterized by lower monthly premium payments and higher...
Tax Glossary
What Is “ Health Savings Account ”?
A Health Savings Account (HSA) is a specialized, tax-advantaged savings account designed to help individuals cover qualified medical expenses. To...
Tax Glossary
What Is “ Health FSA ”?
A Health FSA (Flexible Spending Account) is an employer-sponsored benefit arrangement that allows employees to pay for qualified out-of-pocket medical,...
Tax Glossary
What Is “ Green card test ”?
The Green Card Test is a legal criterion used by the Internal Revenue Service (IRS) to determine whether a non-U.S....
Tax Glossary
What Is “ FSA ”?
An FSA, or Flexible Spending Account, is an employer-sponsored benefit that allows employees to pay for eligible medical or dependent...
Tax Glossary
What Is Form 8995-A?
Form 8995-A, officially titled “Qualified Business Income Deduction,” is an advanced IRS tax form used by small business owners, freelancers,...