Examlex
Recessive gene traits are expressed when an individual is homozygous for the gene.
2% Floor
A tax rule that limits the deductibility of certain miscellaneous expenses to only the portion that exceeds 2% of the taxpayer’s adjusted gross income.
Sales Taxes
Taxes levied by governments on the sale of goods and services, which are typically paid by the consumer at the point of purchase.
Schedule A
A form used with the U.S. federal tax return (Form 1040) to itemize deductions, including medical expenses, state and local taxes, and charitable donations.
Itemized Deduction
Itemized deductions are specific expenses allowed by the IRS that can decrease an individual's taxable income.
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