Hello World
Tax Glossary
What Is “Imputed income”?
Imputed income is the cash value of non-cash benefits or perks you receive that the IRS considers taxable. Even though...
Tax Glossary
What Is “HSA deduction”?
The HSA deduction is an “above-the-line” tax write-off that allows you to reduce your taxable income by the amount you...
Tax Glossary
What Is “Home Sale Exclusion”?
What Is “Home Sale Exclusion”? The home sale exclusion is a tax rule that allows homeowners to sell their primary...
Tax Glossary
What Is “Home office deduction”?
The home office deduction is a tax break designed for self-employed taxpayers and small business owners who use part of...
Tax Glossary
What Is “Health Insurance Exclusion”?
What Is “Health Insurance Exclusion”? What Is “Health Insurance Exclusion”? The health insurance exclusion is a tax rule that allows...
Tax Glossary
What Is “Head of household”?
What Is “Head of household”? Head of household is an IRS filing status designed for unmarried taxpayers who pay for...
Tax Glossary
What Is “ Gig economy income ”?
Gig economy income is money you earn by taking on short-term tasks, freelance projects, or on-demand jobs, typically facilitated through...
Tax Glossary
What Is “Gift Exclusion”?
What Is “Gift Exclusion”? The gift exclusion is the specific dollar amount an individual can give to another person each...
Tax Glossary
What Is “ General business credit ”?
What Is General Business Credit? The General Business Credit (GBC) is not a single tax credit, but rather a “bundle”...
Tax Glossary
What Is “ Gambling winnings ”?
Gambling winnings refer to the cash or fair market value of prizes you receive from betting, lotteries, casinos, or other...