"Where Everyone Has an MBA"
Tel: (612) 246-4616
Tel: (612) 246-4616
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.
DISBURSE/DISBURSEMENT is the paying out of money to satisfy a debt or an expense.
SAFE HARBOR RULE is a concept in statutes and regulations whereby a person who meets listed requirements will be preserved from adverse legal action. Frequently, safe harbors are used where a legal requirement is somewhat ambiguous and carries a risk of punishment for an unintended violation.
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