Tag: tax terminology

Definitions — Curtailing the number


Voluntary truncation hardly sounds like an enjoyable pastime. But cutting off part of taxpayer identification numbers may be a way to reduce identity theft.

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Definitions — Not so strictly confidential


You’ve probably heard the old joke about life’s two rules. The first one is to never give out all the information.

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Definitions — Paying the piper


Whether you believe the expression comes from the Pied Piper of legend or the old proverb, paying the piper does not always mean you get to call the tune.

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Decisions — Canine silence


In the Arthur Conan Doyle short story, Silver Blaze, fictional detective Sherlock Holmes solved the case by inferring intent from silence—the significance of a dog who didn’t bark.

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Decisions — Self diagnosis


In tax, as in medicine, diagnosis can be tricky without all the facts.

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Definition — Fun with statistics


Keep calm, it’s only statistics, and according to author Rex Stout, there are only two kinds – the kind you make up and the kind you look up.

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Decisions — On the wild side


Movies, books, the great outdoors — sometimes even the tax code takes a walk on the wild side. Here are two recent decisions to test your knowledge about tax rules less-traveled.

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Decisions – Paying the penalty


In tax, as in most contact sports, you’re penalized for going out of bounds, and the rules can be arcane.

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Decisions — Policing the assets

When is an asset not an asset? Or, more precisely, what is an asset when a specific internal revenue code section doesn’t contain a definition?

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Definitions — The great depreciation

Section 179 depreciation, a tax provision that currently allows taxpayers to write-off up to $500,000 for 2016 ($510,000 for 2017), has been around long enough that you may think you’re very familiar with the rules. Here’s a quiz to check your knowledge.

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