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Will Lewis be allowed to testify that Jerry became frightened when the police sounded their sirens and said, "This reminds me of years ago when I got caught trying to rob a bank."
Stockholder Basis
The amount invested in a company's stock, used for tax purposes to determine gain or loss on the sale or disposition of the stock.
Taxable Income
The sum of earnings that determines the tax liability of a person or business to the government, once all deductions and exemptions have been applied.
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.
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