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Post- Tax Contributions: Contributions made to a benefit plan that are subject to applicable state or federal tax withholding requirements.

Tax Deferral Option: An expense that a taxpayer is allowed to deduct from taxable income.

Tax Deferred: A tax-deferred account allows you to postpone income tax that would otherwise be due on employment or investment earnings you hold in the account until some point the future, often when you . . . View Full Definition

Tax Deferred Exchange (1031 Exchange): Under Section 1031 of the Internal Revenue Code, some or all of the realized gain from the exchange of property may not need to be immediately recognized for tax purposes. Both properties in . . . View Full Definition

Tax Differential View (Of Dividend Policy): Allowing the capital gains tax on an asset to be payable only when the gain is realized by selling the asset.

Tax Deed: An instrument, similar to a certificate of sale, given to a purchaser at a tax sale.

Tax Deduction: A direct dollar-for-dollar reduction in tax allowed for expenses such as child care and R&D for building low-income housing. Compare tax deduction.

Tax Clawback Agreement: The percentage of tax obligation for a particular taxable income.

Tax Bracket: A tax bracket is a range of income that is taxed at a specific rate. In the United States there are six brackets, taxed at 10%, 15%, 25%, 28%, 33%, and 35% of the amount that falls into each . . . View Full Definition

Tax Codes: Under the PAYE system of taxing income, tax codes are allocated annually to employees. These codes enable the employer to deduct tax at the correct rate from salaries or wages on a monthly ( . . . View Full Definition