What Is the Joint Return Test? The joint return test is one of the IRS tests that potential dependents must pass in order to be claimed as such by another taxpayer. Important According to the IRS: “You generally can’t claim a married person as a dependent if filing a joint return.” The joint return test stipulates that
What Is a Joint-Stock Company? A joint-stock company is a business owned by its investors, with each investor owning a share of the company based on the amount that they’ve invested. It is a predecessor to the modern-day corporation and other types of registered companies in the U.S. Joint-stock companies were created to finance endeavors
What Is a Joint Venture (JV)? A joint venture (JV) is a business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task. This task can be a new project or any other business activity. Each of the participants in a JV is responsible for
What Is the Job Openings and Labor Turnover Survey (JOLTS)? The job openings and labor turnover survey (JOLTS) is a monthly report by the Bureau of Labor Statistics (BLS) of the U.S. Department of Labor counting job vacancies and separations, including the number of workers voluntarily quitting employment. The BLS surveys more than 20,000 businesses
What Is the Jones Act? The Jones Act is a federal law that regulates maritime commerce in the United States. The Jones Act requires goods shipped between U.S. ports to be transported on ships that are built, owned, and operated by United States citizens or permanent residents. The Jones Act is Section 27 of the
Josef Ackermann is a Swiss banker who served as CEO and chair of Deutsche Bank from 2002 to 2012 and the chair of the Bank of Cyprus from 2014 to 2019. He was a member of the Group of Thirty, a Washington-based group of international economists and financiers, who analyze global economic and financial issues.
What Is the Joseph Effect? The Joseph Effect is a term derived from the Old Testament story about the Pharaoh’s dream as recounted by Joseph. The vision led the ancient Egyptians to expect a crop famine lasting seven years to follow seven years of a bountiful harvest. Key Takeaways The Joseph Effect is a term coined by mathematician
Joseph Stiglitz is an American New Keynesian economist. Known for his research on information asymmetry, risk aversion, and monopolistic competition, Stiglitz received the 2001 Nobel Prize in economics. He is currently a professor at Columbia University and chief economist of The Roosevelt Institute. Stiglitz is the author of many books and publications, including Measuring What
What Is a Journal? A journal is a detailed account that records all the financial transactions of a business, to be used for the future reconciling of accounts and the transfer of information to other official accounting records, such as the general ledger. A journal states the date of a transaction, which accounts were affected, and
What Is a Joint Tenant With Right of Survivorship (JTWROS)? The term joint tenant with the right of survivorship (JTWROS) refers to a legal ownership structure involving two or more parties for any type of financial account or another asset. When one of the co-owners dies in a joint tenancy with the right of survivorship
