Taxation Financial Terms & Definitions

29 terms in this topic

Taxation encompasses all laws, regulations, and processes governing the assessment and collection of taxes. It includes various tax types such as income, corporate, sales, and property taxes, as well as rules on tax rates, deductions, credits, and compliance.

T

Tax-exempt

Tax-exempt means that certain income, transactions, or entities are not subject to federal or state income taxes. This exemption can…

Full Definition
W

Withholding

Withholding is the portion of an employee’s wages that an employer sends directly to the government to cover the employee’s…

Full Definition
Tax-deferred Tax-deferred refers to a type of investment or savings account where you do not pay taxes on the… Tax-exempt Tax-exempt means that certain income, transactions, or entities are not subject to federal or state income taxes. This… Tax-loss harvesting Tax-loss harvesting is a strategy used by investors to reduce their taxable income by selling investments that have… Wash-sale rule The wash-sale rule is a regulation by the Internal Revenue Service (IRS) that prevents investors from claiming a… Withholding Withholding is the portion of an employee’s wages that an employer sends directly to the government to cover…