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Law and Legal Studies

Tax Law

Alternative Minimum Tax (AMT)

529 Plan Contribution Limits

Basic Tax Terminology

Charitable Contribution Deduction Rules

Child Tax Credit

Capital Gains Tax Rates

Common Tax Credits

Digital Economy Taxation

Estate and Inheritance Taxes

Foreign Account Tax Compliance Act (FATCA)

Filing Status Categories

Gift Tax Exclusion

IRA Withdrawal Rules

IRS Audit Triggers

Historical Tax Legislation

Important Tax Forms

Key Tax Dates and Deadlines

Medical Expense Deductions

Types of Taxes

U.S. Federal Income Tax Brackets

Transfer Pricing Regulations

Value Added Tax (VAT) Basics

Retirement Account Contribution Limits

Sales Tax Rates by State

Taxation of Partnerships and S Corporations

Tax Accounting Methods

Tax Treaties Explanation

Tax Deductible Expenses for Self-Employed

Tax Exemptions and How They Work

Tax Deductions Overview

Filing Status Categories

Flashcards

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Married Filing Jointly

Definition: Filing status for a married couple that files a tax return together. Qualifications: Must be married by the last day of the tax year, and both spouses agree to file a joint return.

Single

Definition: Filing status for a taxpayer who is unmarried, divorced, or legally separated according to state law. Qualifications: Must not qualify for another filing status.

Head of Household

Definition: Filing status for unmarried taxpayers who provide more than half of the cost to keep up a home for themselves and a qualifying person. Qualifications: Must be unmarried and pay more than half the cost of maintaining a home for the year, and have a qualifying person live with them for more than half the year.

Qualifying Widow(er) with Dependent Child

Definition: A filing status available to a widow(er) who has a dependent child and meets certain conditions. Qualifications: Eligible for two years following the year of the spouse's death, must have a dependent child, and must not remarry in the qualifying year.

Married Filing Separately

Definition: A tax filing status for married couples who choose to record their respective incomes, exemptions, and deductions on separate tax returns. Qualifications: Must be married and may benefit from filing separately when one spouse has significantly lower income or higher medical expenses.

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