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In ancient times, philosophers compared memory to a soft wax tablet that would preserve anything that chanced to make an imprint on it.
Charitable Contribution
A donation or gift to a non-profit organization or charity that is often tax deductible for the donor.
Net Income
The amount of money left after all expenses, taxes, and deductions have been subtracted from a company's total revenue.
Separately Stated Items
Items on a partnership or S corporation tax return that are passed through to the owners or shareholders separately from ordinary income.
Schedule K-1
A financial form that details the earnings, deficits, and dividend distributions for partners or shareholders of a partnership or S corporation.
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