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Deductible. In an insurance policy, the deductible (in British English, the excess) is the amount paid out of pocket by the policy holder before an insurance provider will pay any expenses. [ 1] In general usage, the term deductible may be used to describe one of several types of clauses that are used by insurance companies as a threshold for ...
The income tax threshold is the income level at which a person begins paying income taxes. [ 1] The income tax threshold equates to the: Personal allowance in the UK, which is £12,500 for 2019/20. [ 2] Basic allowance in Germany, which is €9,408 in 2020. [ 3]
The United States federal government and most state governments impose an income tax. They are determined by applying a tax rate, which may increase as income increases, to taxable income, which is the total income less allowable deductions. Income is broadly defined. Individuals and corporations are directly taxable, and estates and trusts may ...
The alternative minimum tax ( AMT) is a tax imposed by the United States federal government in addition to the regular income tax for certain individuals, estates, and trusts. As of tax year 2018, the AMT raises about $5.2 billion, or 0.4% of all federal income tax revenue, affecting 0.1% of taxpayers, mostly in the upper income ranges. [ 1][ 2]
Major League Baseball (MLB) has a luxury tax called the "Competitive Balance Tax" (CBT). In place of a salary cap, the competitive balance tax regulates the total sum of money a given team can spend on their roster. Salary caps are common across professional sports leagues in the United States.
Form 1099. Form 1099 is one of several IRS tax forms (see the variants section) used in the United States to prepare and file an information return to report various types of income other than wages, salaries, and tips (for which Form W-2 is used instead). [ 1] The term information return is used in contrast to the term tax return although the ...
In the United States, the estate tax is a federal tax on the transfer of the estate of a person who dies. The tax applies to property that is transferred by will or, if the person has no will, according to state laws of intestacy. Other transfers that are subject to the tax can include those made through a trust and the payment of certain life ...
The threshold limit value (TLV) is a level of occupational exposure to a hazardous substance where it is believed that nearly all healthy workers can repeatedly experience at or below this level of exposure without adverse effects. Strictly speaking, TLV is a reserved term of the American Conference of Governmental Industrial Hygienists (ACGIH ...