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Tax Glossary
What Is “Installment Sale”?
What Is an Installment Sale? An installment sale is a sale of property where you receive at least one payment...
Tax Glossary
What Is “Incentive Stock Option”?
What Is an Incentive Stock Option (ISO)? An Incentive Stock Option (ISO) is a type of corporate benefit that gives...
Tax Glossary
What Is “Household Employment Tax”?
What Is Household Employment Tax? Household employment tax, often nicknamed the “Nanny Tax,” refers to the federal taxes you must...
Tax Glossary
What Is “Half-year convention”?
What Is the Half-Year Convention? The half-year convention is a tax rule that treats all business property placed in service...
Tax Glossary
What Is “Goodwill”?
What Is Goodwill? In the tax world, goodwill is an intangible asset that represents the value of a business above...
Tax Glossary
What Is “Form 8960”?
What Is Form 8960? Form 8960 is the official IRS document used to calculate and report the Net Investment Income...
Tax Glossary
What Is “Form 6252”?
What Is Form 6252? IRS Form 6252 is the document used to report income from an installment sale, which is...
Tax Glossary
What Is “Form 4797”?
What Is Form 4797? IRS Form 4797, officially titled “Sales of Business Property,” is the tax form used to report...
Tax Glossary
What Is “Fixed Asset”?
What Is a Fixed Asset? A fixed asset is a piece of tangible property that you own and use in...
Tax Glossary
What Is “Fair market value of stock”?
What Is Fair Market Value (FMV) of Stock? Fair market value (FMV) of stock is the price that a share...