ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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INCOME TAXES PAYABLE Definition
INCOME TAXES PAYABLE is income taxes due including current portion of deferred taxes.
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BOND DISCOUNT is the excess of a bond face value over issued price.
STANDARD DEDUCTIONS is used to reduce income by taxpayers who do not itemize allowable deductions on their tax returns. The amount of the deduction depends on your filing status: if you are 65 or older, if you are blind and whether you can be claimed as a dependent on another taxpayers income tax return. See ITEMIZED DEDUCTIONS.