Related Words

After Tax Income: Another term for net income.

Self-Employment Tax: A tax self-employed people must pay to qualify them to receive Social Security benefits at retirement.

Self-Employed Income: Taxable income of a person involved in a sole proprietorship or other sort of free-lance work.

Sales Tax Payable: Money collected from customers for sales taxes, that must be remitted to local governments and other taxing authorities.

Separate Tax Returns: Tax returns of married persons who choose to file their returns individually, usually because this approach produces lower overall tax payments.

Single-Step Income Statement: An income statement where all the revenues are shown as a single total rather than being split up into different types of revenue (this is the most common format for very small businesses). . . . View Full Definition

Split-Rate Tax System: An option on an option. The buyer generally executes the split fee with first an initial fee, with a window period at the end of which (upon payment of a second fee) the original terms of th . . . View Full Definition

Social Security Disability Income Insurance: Used in the context of general equities. Process by which the exercise of stop orders in a declining or advancing market causes further downward or upward pressure on prices, thus triggering . . . View Full Definition

Social Security (FICA) Taxes: Federal Insurance Contributions Act taxes imposed on employee and employer: used mainly to provide retirement benefits.

Short-Term Tax Exempts: Ratios used to judge the adequacy of liquid assets for meeting short-term obligations as they come due, including (1) the current ratio, (2) the acid test ratio, (3) the inventory turnover r . . . View Full Definition