ADJUSTED GROSS INCOME (AGI)

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This may be the most important tax term since the tax code uses…

ALTERNATIVE MINIMUM TAX (AMT)

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A different way of computing one’s tax liability; it MUST be…

RECEIVE YOUR REFUND FASTER WITH DIRECT DEPOSIT

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Article Summary: Speed Security Convenience Options …

BASIS

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Basis is the dollar value from which a taxpayer measures any…

BUSINESS GIFTS

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Gifts to customers, business contacts, clients, etc., are deductible…

CAPITAL GAIN

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Gains from the sale of certain assets owned for more than one…

CAPITAL LOSS

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This is generally a loss from the sale of investment property…

CONSTRUCTIVE RECEIPT

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Generally, most individual taxpayers are considered cash basis…