Glossary

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Glossary: Revenue Procedure

By | March 17th, 2017|Categories: Glossary|Tags: , |

In tax terms, a revenue procedure is IRS guidance on how taxpayers should comply with certain laws and regulations.

Glossary: Form W-2

By | March 3rd, 2017|Categories: Glossary|Tags: , |

Form W-2 is a reporting for issued by employers to employees. The W-2 shows the amount of wages paid to the employee during the year, as well as the amount of taxes withheld.

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Glossary: Intangible Asset

By | February 17th, 2017|Categories: Glossary|Tags: , , , |

One way of looking at intangibles is, they are business assets that cannot be physically touched.

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Glossary: Partnership

By | January 24th, 2017|Categories: Glossary|Tags: , , |

A partnership is a business with two or more owners who conduct business and are not incorporated.

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Glossary: Form K-1

By | January 12th, 2017|Categories: Glossary|Tags: |

Form K-1 is a reporting form issued by partnerships, S-Corporations, estates and trusts. Form K-1 reports an individual shareholder’s or beneficiary’s share of the entity’s income and deductions for the year.

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