Individual Tax

  • 3 Posts
  • 1 Sections
  • 1 Types
Definitions
Alternative Minimum Tax (AMT)
Alternative Minimum Tax AMT Taxation Federal Tax Corporate Tax Individual Tax Tax Deductions Income Tax
A federal tax designed to ensure that wealthy individuals, estates, trusts, and corporations pay a minimum amount of tax regardless of deductions, credits, or exemptions.
Read more about Alternative Minimum Tax (AMT).
Definitions
Long-Term Capital Gain (Loss)
Long-Term Capital Gain Long-Term Capital Loss Securities Capital Assets Taxation Individual Tax Corporate Tax Net Operating Loss
Long-Term Capital Gain (Loss) refers to the profit or loss earned from the sale of securities or capital assets held for more than 12 months. This gain or loss has special tax implications for individual and corporate taxpayers.
Read more about Long-Term Capital Gain (Loss).
Definitions
Tax Loophole
Tax Loophole Tax Evasion Tax Optimization Tax Planning Corporate Tax Individual Tax Tax Law Tax Code
A tax loophole is an ambiguity or omission in the tax code that allows individuals or corporations to reduce their tax liabilities legally. These loopholes are often the result of complex tax laws and can be used to advantage through strategic financial planning.
Read more about Tax Loophole.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.