Examlex
A nondeductible floor of 2% of AGI is imposed on unreimbursed employee business expenses,investment expenses,and many other miscellaneous itemized deductions such as tax preparation fees.
Perfectly Inelastic
A demand scenario where the quantity demanded does not change regardless of price fluctuations.
Income Elasticity
A measure of how much the demand for a good changes in response to a change in consumers' income.
Inferior Good
A type of good for which demand decreases as the income of the consumer increases, in contrast to a normal good.
One-Of-A-Kind
An item or phenomenon that is unique and has no identical counterpart.
Q5: During the current year,Jack personally uses his
Q12: Distinguish between the accrual-method taxpayer and the
Q26: On May 1,2011,Empire Properties Corp.,a calendar year
Q59: During the year,Mark reports $90,000 of active
Q77: In 2012 Betty loaned her son,Juan,$10,000 to
Q81: Generally,deductions for adjusted gross income on an
Q84: Sue Swank owns a local accounting firm
Q86: If a capital asset held for one
Q89: Rajiv,a self-employed consultant,drove his auto 20,000 miles
Q96: Self-employed individuals receive a for AGI deduction