Income Averaging

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Individual Retirement Arrangement (IRA) Itemized Deductions Installment agreement Imputed (or Unstated) Interest Identifying Numbers Internal Revenue Service (IRS) Investment Interest Independent Contractor Installment Method Income Averaging Information Returns Inheritance Insolvency Insurance Dividends Intangible Personal Property Interest Received Investment Tax Credit Incentive Stock Option Income Investment Property Involuntary Conversion Inventory

Definition of Income Averaging:

A way of reducing taxes in the event of a substantial increase in income by averaging the current year's income with the previous 3 years. Income averaging can only be used by farmers and commercial fishermen.

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Income Averaging

Definition of Income Averaging:

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