personal service corporation
corporation whose principal activity is the performance of personal services, which are substantially performed by employee-owners.
Pay for Personal Services Performed
This section explains the rules for withholding tax from pay for personal services.
Personal Service at Customer's Site - this service can be a one-to-one or one-to-many relationship between the servicer and customer, sometimes dealing with factors that the customer deems confidential.
Personal Services
The object class containing the costs of personnel, such as compensating City employees for salaries, wages and employee benefits (social security, retirement and insurance) for City employees, ...
PERSONAL SERVICE CONTRACT - An agreement, or any amendment thereto, with a consultant for the rendering of personal services to the state which is consistent with state law.
Personal services business
A personal services business exists when a person who is a specified shareholder of the corporation provides services to another entity, ...
Personal services business
A personal services business carried on by a corporation means a business of providing services where an individual who performs services on behalf of the corporation would normally have been an employee of that ...
Valuing Personal Service Businesses
Different valuation methods and emphases are required when assessing the value of a personal service business such as a medical practice.
Note that personal service corporations (those whose employees spend at least 95 percent of their time in the field of health, law, engineering, architecture, accounting, actuarial science, performing arts, or consulting) are taxed at a flat rate of ...
Independent Personal Services A person who is hired as an independent contractor and is not controlled by the person who hired him. The line between an independent contractor and an employee can sometimes be blurred.
For example, duly diligent efforts to locate and/or serve a party with civil process is frequently a requirement for a party seeking to use means other than personal service to obtain jurisdiction over a party.
Personal services may also be brokered by employment agencies, booking agents for concert or theatrical performers, travel agents, and the like.
A corporation that is created for the purpose of providing personal services to individuals or groups. To be considered a personal-service corporation by the IRS, the employee-owners must perform at least 20% of the personal services themselves.
Earned income - Income from personal services. Earned income generally includes wages, salaries, tips, and other employee compensation
Earning power - Discounted present value of future profit of a business.
1099-MISC - Is a form that reports rents, royalties, personal service or profession income, and other m...
1099-OID - Is a form that reports Original Issue Discounts, which are a form of interest payment, to th...
ORDINARY INCOME: Income earned from personal service; money one works for.
OVER-THE-COUNTER MARKET (OTC): A network of securities dealers linked together to make markets in securities.
Consideration - Anything of value given to induce entering into a contract, including money, personal services, love and affection (a contract must have some consideration to be legally binding).
Money earned through wages, salaries, tips, net earnings (if self-employed), and any other income received for work or personal services. Investment income, such as dividends and interest, is not counted as earned income. See also "Unearned Income." ...
Includes income derived from such sources as dividends, interest, royalties, rents, amounts received from personal service contracts, and income received as a beneficiary of an estate or trust.
Be sure to check out a potential silver dealer's customer service track record. Find out if they provide personal service. Try to get a recommendation from other silver investors, when searching for a respectable silver bullion dealer.
Earned income. Compensation, such as salary, commissions and tips, you receive for your personal services. This is distinguished from "unearned" income such as interest, dividends and capital gains.
Keogh plan: A qualified tax-deferred retirement plan for persons who are self-employed and unincorporated or who earn extra income through personal services aside from their regular employment. Syn. HR-10 plan.
A company may insure the life of a key (executive) employee and pay premiums as a deductible bonus for personal services actually rendered. Premiums are taxable to the employee.
Even personal services such as hair and nail salons can benefit from e-commerce by providing a website for the sale of related health and beauty products, normally available to local customers exclusively.
Tax-deferred retirement plan for a self-employed and unincorporated person or a person who has earned extra income aside from regular employment through personal services.
Kerb Trading or Dealing
See Curb Trading.
collected within outlets, the shift of consumer purchasing from discounters does not show up as a price decline, even though consumers reveal by their purchases that the price decline more than compensates for the potential loss of personal services.
includes hotels, restaurants, and wholesale and retail trade; transport, storage, and communications; financing, insurance, real estate, and business services; community and social services (such as education and health care); and personal services.
The occupations of the manufacturer and merchant, as well as the liberal professions, and every kind of personal service, are "useful" indeed, but they are "sterile," drawing their income, not from any fund which they themselves create, ...
consideration Something of value, such as money or personal services, given by one party to... consignment An arrangement under which items are delivered by a consignor to a consignee...
 See also: Expense, Compensation, Withholding, Internal revenue code, Saving
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