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Various types of tax breaks can help you lower your tax bill or pay off tax-related debt. A tax return is a document filed with the tax authority that reports income, expenses and other relevant financial information. A tax sale is when an investor sells an asset at a capital loss to reduce or eliminate capital gains from other investments for income tax purposes. A tax haven is a place to legally store assets to minimize current or future tax liabilities. The tax table is a chart showing the amount of tax payable based on the income received. Tax treaty - a bilateral (bilateral) agreement between two countries to address issues related to the double taxation of passive and active income of each of their respective citizens. The tax wedge is the net difference between gross income and net income after taxes. Tax incentives refer to the favorable tax status enjoyed by certain qualifying investments, accounts or other financial instruments. Taxable income is the income that a taxable bond would have to generate to equal the income from a comparable tax-free bond, such as a municipal bond. Tax-exempt interest refers to interest income that is not taxable, especially at the federal level.