tax bracket
61tax deduction — noun a reduction in the gross amount on which a tax is calculated; reduces taxes by the percentage fixed for the taxpayer s income bracket • Syn: ↑tax write off, ↑deduction • Hypernyms: ↑write off, ↑write down • Hyponyms: ↑tax benefit, ↑ …
62tax write-off — noun a reduction in the gross amount on which a tax is calculated; reduces taxes by the percentage fixed for the taxpayer s income bracket • Syn: ↑tax deduction, ↑deduction • Hypernyms: ↑write off, ↑write down • Hyponyms: ↑tax benefit, ↑ …
63Bracket Creep — A situation where inflation pushes income into higher tax brackets. The result is an increase in income taxes but no increase in real purchasing power. This is a problem during periods of high inflation as income tax codes typically take a longer …
64bracket creep — noun Increased taxation arising from wage and salary increases pushing taxpayers into higher tax brackets, or further into such brackets, in a progressive taxation system. The wage rises here are those from keeping pace with inflation or similar… …
65bracket creep — process of rising into higher tax brackets as one s income rises in response to inflation (Economics) …
66Consumption tax — Taxation An aspect of fiscal policy …
67Capital gains tax in the United States — In the United States, individuals and corporations pay income tax on the net total of all their capital gains just as they do on other sorts of income. Capital gains are generally taxed at a preferential rate in comparison to ordinary income.… …
68Flat Tax — A system that applies the same tax rate to every taxpayer regardless of income bracket. A flat tax applies the same tax rate to all taxpayers, with no deductions or exemptions allowed. Supporters of a flat tax system propose that it would give… …
69Progressive tax — A progressive tax is a tax imposed so that the tax rate increases as the amount subject to taxation increases. [ [http://www.merriam webster.com/dictionary/Progressive Webster] (4b): increasing in rate as the base increases (a progressive tax)] [ …
70Rate schedule (federal income tax) — Part of a series on Taxation Taxation in the United States …
