Amount of tax to be paid based on taxable income. The tax rate usually changes as the unit of the tax base changes.
- Individual: Tax rate depends on whether the tax return is for a single filer, joint filer, or head of household. For example, the maximum tax rate for a joint filer in 1994 is 39,6% for taxable income over $250,000. The tax rate is 36% for taxable income over $140,000 but less than $250,000.
- Corporation: The maximum tax rate in 1994 for a corporation is 35%.
Popular Real Estate Terms
Opening in the wall of a structure to let in air and light. ...
material placed on the outside surface of a structure such as aluminum or vinyl siding on a house. It is cost-efficient because it eliminates the need for repeated painting. Siding provides ...
Latin term meaning something in exchange for something else. For example, a person rushes through an order for another in return for having first choice in selecting a parcel of ...
The definition of debt coverage ratio (DCR) or debt-service coverage ratio (DSCR) is on the pages of all finance coursebooks. It reveals the ability of an individual - but most ...
Certificates that pass-through principal and interest payments to investors. ...
Upon satisfaction of a mortgage or other debt payments, the deed releases property, or a portion of it, form the incumbrance. Often it is used in circumstances where a deed of trust is ...
Also called earnest money. Money deposited with an individual for security for the performance of some contract. This is intended to show his/her willingness to follow through with the ...
Con can mean the downside of any relevant aspects that need to be weighed and evaluated before any decision is made. For example, there are pros and cons to living near an airport and one ...
Grades have various definitions related to real estate and surveying land. Let’s have a look at the most common meanings of grades you’ll encounter in everyday life! Grades ...
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