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Federal Employer Identification Number (EIN)/Form SS-4: EINs are used to identify the tax accounts of businesses. You need to get an EIN if you have employees or operate your business as a partnership or corporation. An EIN is also needed if you have a Keogh retirement plan or file certain tax returns. Form SS-4, An Application for Employers Identification Number, is used to request an EIN.

Federal Tax Deposits (FTDs): Federal Tax Deposits for Form 941 are made up of withholding taxes or trust funds, which are actually part of your employees’ salaries, along with the employer’s matching half of FICA (Social Security and Medicare).  For a quick reference guild for Federal Tax Deposits Click Here

Fair Market Value (FMV): Is the price that property would sell for on the open market. It is the price that would be agreed on between a willing buyer and a willing seller, with neither being required to act, and both having reasonable knowledge of the relevant facts. If you put a restriction on the use of property you donate, the FMV must reflect that restriction.

Forensic Accounting: Simply put, forensic accounting is accounting that is suitable for legal review, offering the highest level of assurance, and including the now generally accepted connotation of having been arrived at in a scientific fashion. That is, forensic accounting is sufficiently thorough and complete so that an accountant, in his/her considered independent professional judgment, can deliver a finding as to accounts, inventories, or the presentation thereof that is of such quality that it would be sustainable in some adversarial legal proceeding, or within some judicial or administrative review. Findings are based upon the scientific detection and interpretation of the evidences of phenomena introduced into the books and records of an accounting system (expansively defined) and the effects of such phenomena upon the accounts, inventories, or the presentation thereof. (Alternatively, if there is no impact on an accounting system, there is no accounting evidence, nor is there any effect upon the accounts, inventories, or the presentation thereof; and such situations are not within the realm of forensic accounting - where only the accountant is qualified to function.) The primary orientation of forensic accounting is explanatory analysis (cause & effect) of phenomena - including the discovery of deception (if any), and its effects - introduced into an accounting system domain. The primary methodology employed by forensic accountants is objective verification. 

For more information on Forensic Accounting

Garnishment: Money withheld from an individual's paycheck and remitted to another party, usually a creditor.  When reporting taxable income, you must include the amounts garnisheed from your wages.

For more information on Garnishments

Gross Income: This deals with all the money, goods and property you receive that must be included as taxable income. Fact: people who use the barter system (exchanging non-monetary goods/services as payment) have to include whatever they've bartered for as part of their gross income.