Legal Dictionary

Category: Tax Law

  • Entrepreneur

    Entrepreneur Definition (in the Accounting Vocabulary) The New York State Society of Certified Public Accountants offers the following definition of Entrepreneur in a way that is easy for anybody to understand: Person who takes on the risks of starting a new business. United States Tax Concept […]

  • Fringe Benefit

    United States Tax Concept of Fringe Benefit Employee benefits such as health insurance, life insurance, pension plans, dental insurance, vision care, and group legal plans. Most fringe benefits are deductible by your employer and tax free to you. The cost of $50,000 of life insurance is a […]

  • Investment Income

    The revenue from a portfolio of invested assets….

  • Housing

    Housing

    United States Tax Concept of Foreign Housing Exclusion and Deduction You may qualify for this exclusion or deduction if your employer paid for your foreign housing or you were self-employed and you lived and earned income outside the United States. Resources Legal English Vocabulary: […]

  • Stock

    Stock

    Legal Definition and Related Resources of Stock Meaning of Stock A fund, capital ; the money or goods employed in trade ; the property which a merchant , a tradesman or a company has invested in any business , including merchandise , money and […]

  • Stock

    Stock

    Legal Definition and Related Resources of Stock Meaning of Stock A fund, capital ; the money or goods employed in trade ; the property which a merchant , a tradesman or a company has invested in any business , including merchandise , money and […]

  • Balance Sheet

    A several accounts. See Eyre v Hormen, 28 F. 779, 92 Cal. 580.

  • Customs

    Legal Definition and Related Resources of Customs Meaning of Customs Duties charged on commodities on their import into or export out of a country. A mode or system of taxation for the raising of money and is a typical form of indirect tax . A […]

  • Self Employed Person

    United States Tax Concept of Self Employed Person An individual who operates a trade, business, or profession as a proprietor or independent contractor. Self employment income is reported on Schedule C.

  • Audit

    An examination and full scrutiny of accounts. The act of so examining and scrutineering accounts implies an informed endeavour to weigh and judge the truth and correctness of the accounts. The act of inspecting and examining implies an informed endeavour to weigh and judge the truth and […]

  • Acquisition

    The act by which a person procures the property of a thing. The thing the property in which is secured. Original acquisition is that by which a man secures a property in a thing which is not at the time he acquires it, and in its then existing condition, the property of any other […]

  • Acquisition

    The act by which a person procures the property of a thing. The thing the property in which is secured. Original acquisition is that by which a man secures a property in a thing which is not at the time he acquires it, and in its then existing condition, the property of any other […]

  • Farm

    Legal Definition and Related Resources of Farm Meaning of Farm A tract of land held for the purpose of cultivation. Sometimes used to denote a tract of land used for dairy, poultry raising and such similar purposes. Originally, the term denoted […]

  • Farm

    Legal Definition and Related Resources of Farm Meaning of Farm A tract of land held for the purpose of cultivation. Sometimes used to denote a tract of land used for dairy, poultry raising and such similar purposes. Originally, the term denoted […]

  • General Partner

    A partner who has unlimited liability for the obligations of the partnership….