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Tax Glossary
What Is “Dividend”?
A dividend is a distribution of a portion of a company’s earnings paid directly to its shareholders. It is essentially...
Tax Glossary
What Is a Direct Rollover?
A direct rollover is an administrative transfer of retirement assets directly from one tax-advantaged account to another eligible retirement account....
Tax Glossary
What Is “ Dependent care FSA ”?
A Dependent Care FSA (Flexible Spending Account) is an employer-sponsored benefit plan that lets you pay for eligible care services—like...
Tax Glossary
What Is a Defined Contribution Plan?
A defined contribution plan is a type of retirement plan where an employee, an employer, or both make regular, specific...
Tax Glossary
What Is a Defined Benefit Plan?
A defined benefit plan is an employer-sponsored retirement plan that guarantees a specific, predetermined payout for employees when they retire....
Tax Glossary
What Is “ Debt basis ”?
Debt basis is the tax value of the money you have personally loaned to your business, most commonly an S-corporation....
Tax Glossary
What Is “Covered expatriate”?
A covered expatriate is a U.S. citizen or long-term green card holder who is officially designated by the IRS as...
Tax Glossary
What Is “Corporate net operating loss”?
A corporate net operating loss (NOL) happens when a C corporation’s allowable tax deductions are greater than its taxable income...
Tax Glossary
What Is “Corporate income tax”?
Corporate income tax is a tax levied by the government on the profits of a corporation. Instead of the business...
Tax Glossary
What Is “Corporate estimated tax”?
Corporate estimated tax is the “pay-as-you-go” method used by corporations to pay their federal income tax liability throughout the year....