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Taxes

Gross income

In the world of finance, gross receipts refer to the total amount of money or assets received by an individual or business for their services. This can include both cash and property received as compensation for independent personal services. Additionally, gross receipts also encompass any income derived from a trade, business or service, such as interest, dividends, royalties, rentals, and fees. In essence, it encompasses all forms of compensation received by a taxpayer, making it an important term to understand in the realm of finance.

Source of income

In the world of finance, the term "source" refers to the origin or generation of income in a specific place or country. This concept can vary depending on the national rules...

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Marginal rate of tax

As we delve into the intricacies of finance, one must understand the concept of tax rates. Specifically, the top slice or bracket of a taxpayer's income is subject to a prog...

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Frivolous position

A tax position that is deliberately put forward in an insincere manner and is clearly inappropriate. ...

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Tax haven

A tax haven, in its traditional sense, is a nation that enforces minimal or no taxes and is utilized by companies to evade taxes that would otherwise be owed in a high-tax c...

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