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Tax Glossary
What Is “Accounting period”?
What Is an Accounting Period? An accounting period is a specific span of time covered by a set of financial...
Tax Glossary
What Is “Accounting method”?
What Is an Accounting Method? An accounting method is a set of rules used to determine when a taxpayer reports...
Tax Glossary
What Is a “ Tax preparer ”?
What Is a Tax Preparer? A tax preparer is a professional qualified to calculate, file, and sign income tax returns...
Tax Glossary
What Is “ Safe harbor rule ”?
What Is the Safe Harbor Rule? A safe harbor rule is a legal provision that protects you from a penalty...
Tax Glossary
What Is “ Self-employment income ”?
Self-employment income is the money you earn by working for yourself as a freelancer, independent contractor, or small business owner,...
Tax Glossary
What Is “Qualified dividends”?
What Are Qualified Dividends? Qualified dividends are a specific type of investment income that is taxed at the lower long-term...
Tax Glossary
What Is “Work Opportunity Tax Credit”?
Work Opportunity Tax Credit (WOTC) Guide The Work Opportunity Tax Credit (WOTC) is a federal tax incentive available to employers...
Tax Glossary
What Is “ Where’s My Refund ”?
What Is “Where’s My Refund”? “Where’s My Refund” is an official online tracking tool provided by the IRS that allows...
Tax Glossary
What Is “ Wages ”?
Wages are the financial compensation an employer pays an employee in exchange for their time, labor, and services. For tax...
Tax Glossary
What Is “ Wage and income transcript ”?
What Is a Wage and Income Transcript? A Wage and income transcript is an official IRS document that summarizes data...