PRESIDENT'S BUDGET PROPOSAL

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Article Highlights: Small Business Provisions Individual…

FILING STATUS

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A taxpayer's filing status (except Head of Household) is based…

GIFT TAX

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Many taxpayers believe they can deduct gifts they give to other…

HEAD OF HOUSEHOLD

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This is a special filing status for unmarried individuals, and,…

HOLDING PERIOD

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Generally, the length of time an asset is owned will determine…

HOME EQUITY DEBT

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This term refers to debt incurred on a principal residence or…

INDEPENDENT CONTRACTOR

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Is someone who performs services for others. The recipients of…

INVESTMENT INTEREST

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Is interest paid on debt used for investment purposes. Typical…