Tax Me Harder
Tax for Withdrawing from Retirement before 59 1/2
Early Distribution Penalty
Credit for not receiving Stimulus payments in 2020/2021
Recovery Rebate Credit
Schedule used for filing depreciation
4562
Unused Manufacturing Supplies are reported under COGS as this
Inventory
Section 121 Exclusion
Main Home Exclusion
Tax For Assistance for Marketplace Insurance
Premium Tax Credit
Partially Refundable Education Credit
American Opportunity Tax Credit
Method of Depreciation that takes the same deduction each year
Straight Line
Qualified Business Income Deductions are generally limited UNLESS your business is this
SSTB (Specified Service Trade or Business)
a Section 179 deduction is also called..
Special Depreciation
Repayment of this... given to taxpayers shopping for houses in 2008
First-Time Homebuyer Credit
You cannot claim Foreign Tax Credit if you claimed this for the same income
Foreign Income Exclusion
Convention that places asset in service on the 15th of the Month
Mid-Month
Your business can generally only report Bad Debts under this accounting method
Accrual
Section 199A goes over this deduction
Qualified Business Income Deduction
3.8% additional tax on capital gains to High Income Individuals
Net Investment Income Tax
credit approved under CARES act in 2020 and expanded on in ARPA 2021 to help employers pay employees
Employee Retention Credit (ERC)
in 1986, MACRS (Modified Accelerated Cost Recovery System) replaced this
ACRS (Accelerated Cost Recovery System)
A partner whose losses CANNOT exceed their cost basis, generally doesn't actively participate
Limited Partner
This section defines Qualifying Employee Retirement Plans
Section 401(k)
additional tax is issued for THESE payments... to executives who lose their jobs due to mergers and takeovers
Golden Parachute Payments
The amount you can claim for New Electric Vehicle Credits
$7500
Buildings are depreciable assets under this IRS Section
Section 1231
These loans do not affect shareholder basis
Section 501(c)(3) goes over these types of organizations
Tax-Exempt / Charities