- Marginal Tax Rate
- The tax rate that applies to the last dollar of income earned.
- Married Filing Jointly
- A filing status claimed by married couples who wish to combine
income and file a single tax return together in order to take advantage
of various tax benefits.
- Married Filing Separately
- A filing status claimed by married couples who do not wish to file a joint return and agree to report their income separately.
- Mortgage
- A loan made to purchase property, generally real estate. The
borrower pledges the property to the lender as collateral to guarantee
repayment of the loan.
- Medical Savings Account (MSA)
- See Archer Medical Savings Account.
- Multiple Support Agreement
- When two or more taxpayers who provide financial support for a
particular person agree to officially designate that person as the
dependent of one of the supporting taxpayers, to allow that taxpayer to
claim dependency exemptions and various credits and deductions.
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