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Income earned through work, interest, dividends, alimony or retirement distributions, often taxed at higher rates than capital gains.

A tax on the profit realized on the sale of a non-inventory asset that was greater than the purchase price.

Dividends that meet certain criteria set by the government to qualify for a lower tax rate than the rate applied to ordinary income.

Income or transactions that are free from tax at the federal, state, or local level.

A status referring to investment earnings such as interest, dividends, or capital gains that accumulate tax-free until the investor takes constructive receipt of the gains.

A range of incomes that are taxed at a particular rate. Tax systems may have several brackets, with income taxed progressively higher as it increases.

A retirement savings account that offers tax advantages, where contributions may be deductible from taxable income, and earnings grow tax-deferred.

A tax levied on the net value of the estate of a deceased person before distribution to the heirs.

The rate at which the last dollar of income is taxed, which is relevant in progressive tax systems with multiple tax brackets.

The original value or purchase price of an asset for tax purposes, adjusted for stock splits, dividends, and return of capital distributions.

A distribution of a portion of a company's earnings to shareholders, as determined by the company's board.

Income coming from interest, dividends, capital gains, or other profits from assets like stocks, bonds, and real estate.

A reduction in taxable income, allowable due to various expenses, which decreases the total tax bill.

The 12-month period for which tax returns are prepared and taxation is calculated, which doesn't necessarily align with the calendar year.

A retirement savings account that allows your money to grow tax-free, with contributions made with after-tax dollars and qualified withdrawals being tax-free.

A parallel tax system designed to ensure that high-income individuals and corporations pay at least a minimum amount of tax, regardless of deductions, credits, or exemptions.

A measure of income calculated from your gross income and used to determine how much of your income is taxable. It is gross income minus adjustments to income.