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Legal Glossary (S)
Sales Tax: Sales tax is a type of excise tax that is placed on goods and services in the United State...
sales tax evasion: Tax evasion is the deliberate failure of the filer to report the true amount of tax. Sales...
sales tax penalty: If you do not file or pay your sales tax on time, you will incur a penalty. You may also i...
seizure of assets: If you fail to pay your income tax, the IRS can seize your assets. This type of seizure is...
Self Employed: A taxpayer who is self-employed must pay self-employment tax, according to the IRS. The ta...
Self Employment Tax: Anyone who works for themselves and is proud to be their own boss will have to deal with s...
Social Security Tax: All citizens of the United States who are gainfully employed pay certain taxes on their wa...
Sole Proprietorship: A sole proprietorship is a company that is completely owned by a single individual. This p...
Standard Deduction: The standard deduction is a fixed dollar amount that can be used to reduce the total amoun...
Standard Mileage Rate: If you own a small business or are self-employed you may be able to claim the standard mil...
State Income Tax: Unlike federal income tax, state income tax is levied by each individual state. Almost eve...