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Today's Terms
Depreciation and Section 179 Expense
Definition:
50% special depreciation allowance. For qualified property you acquire after May 5, 2003, you can take a special depreciation allowance that is equal to 50% of the property's depreciable basis. However, instead of claiming the 50% special allowance, you can elect to claim the 30% special allowance or elect not to claim any special allowance.
Compulsory payroll tax
Definition:
An automatic tax collected from employers and employees to finance specific programs.
Form W-4, Employee's Withholding Allowance Certificate
Definition:
Completed by the employee and used by the employer to determine the amount of income tax to withhold.
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