← All Glossary W-2 A US tax form employers send to employees and the IRS annually, reporting wages paid and taxes withheld during the calendar year. W-4 An IRS form employees complete to inform employers of their tax withholding allowances, determining the amount of income tax withheld from paychecks. Wash Sale A sale of a security at a loss followed by repurchase of the same or substantially identical security within 30 days, where the loss is disallowed for tax purposes. Wash-Sale Rule An IRS regulation preventing taxpayers from claiming a loss on a security sold and repurchased within 30 days, applicable to both stocks and options. Whole Life Insurance A permanent life insurance policy combining a death benefit with a cash value component that grows tax-deferred at a guaranteed minimum rate. Working Capital A liquidity measure calculated as current assets minus current liabilities, indicating a company's ability to meet short-term obligations and fund operations. Wrap Account A brokerage account where all trading commissions, management fees, and administrative costs are bundled into a single annual fee, typically a percentage of assets under management.
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