Tax-Exempt Sector Definition

Tax-Exempt Sector Definition

What Is the Tax-Exempt Sector? The tax-exempt sector can refer to either a market niche comprising investment vehicles or nonprofit organizations that are exempt from federal taxes. The term is most often associated with a set of investments that pays tax-exempt interest or dividends. The sector includes bonds, notes, leases, bond funds, mutual funds, money

Definition, Calculation, and Have an effect on on Source of revenue

Definition, Calculation, and Have an effect on on Source of revenue

What Is a Tax Expense? A tax expense is a liability owed to federal, state/provincial, and/or municipal governments within a given period, typically over the course of a year. Tax expenses are calculated by multiplying the appropriate tax rate of an individual or business by the income received or generated before taxes, after factoring in

Tax-Free Definition

Tax-Free Definition

What Is Tax Free? Tax free refers to certain types of goods and financial securities (such as municipal bonds) that are not taxed. It also refers to earnings that are not taxed. The tax free status of these goods, investments, and income may incentivize individuals and business entities to increase spending or investing, resulting in

Tax Freedom Day

Tax Freedom Day

WHAT IS Tax Freedom Day Tax Freedom Day refers to the day an average American has theoretically earned enough money to pay off his or her total tax obligations for the year. The calculation used to determine this date assumes that everyone in the nation works for eight hours a day beginning January 1, and

Tax-Unfastened Monetary financial savings Account (TFSA): Definition and Calculation

Tax-Unfastened Monetary financial savings Account (TFSA): Definition and Calculation

What Is a Tax-Free Savings Account? A tax-free savings account (TFSA) is a Canadian savings account in which contributions, interest earned, dividends, and capital gains grow tax free. Money withdrawn from it is also tax free. The money deposited in TFSAs is an after-tax contribution, meaning it’s made with money that’s already been taxed. Therefore

Tax Space Definition

Tax Space Definition

What Is a Tax Home? A tax home is the general locality of an individual’s primary place of work. It is the entire city or general vicinity where their principal place of business, employment, or post of duty is located, regardless of the location of the individual’s primary residence. An individual’s tax home affects their