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Tax Glossary
What Is “Net Investment Income Tax”?
What Is Net Investment Income Tax (NIIT)? The Net Investment Income Tax (NIIT) is a 3.8% surtax that applies to...
Tax Glossary
What Is “Mutual Fund Distribution”?
What Is a Mutual Fund Distribution? A mutual fund distribution is a payment made by a mutual fund to its...
Tax Glossary
What Is “Municipal Bond Interest”?
What Is Municipal Bond Interest? Municipal bond interest is the money paid to investors who lend funds to state or...
Tax Glossary
What Is “Modified Accelerated Cost Recovery System”?
What Is the Modified Accelerated Cost Recovery System (MACRS)? The Modified Accelerated Cost Recovery System (MACRS) is the current standard...
Tax Glossary
What Is “Mid-quarter convention”?
What Is the Mid-Quarter Convention? The mid-quarter convention is a tax rule that changes how you calculate depreciation if you...
Tax Glossary
What Is “Mid-month convention”?
What Is the Mid-Month Convention? The mid-month convention is a tax rule used to determine the start date for depreciating...
Tax Glossary
What Is “Market Discount”?
What Is Market Discount? Market discount is the difference between the price you pay for a bond on the secondary...
Tax Glossary
What Is the “Mark-to-Market Election”?
What Is the Mark-to-Market Election? The mark-to-market election is a special tax choice under Internal Revenue Code Section 475(f) available...
Tax Glossary
What Is “Margin Interest”?
What Is Margin Interest? Margin interest is the interest charged by a brokerage firm on the money you borrow to...
Tax Glossary
What Is “Luxury auto depreciation limits”?
What Are Luxury Auto Depreciation Limits? Luxury auto depreciation limits are IRS-imposed caps on the maximum dollar amount a business...