Glossary If this doesn't clear things up, just come in. We'll explain everything you need to know. A B C D E F G H I J K L M N O P Q R S T U V W Click the first letter of the term you're searching for to get an easy-to-understand explanation. Qualified Dividends - Certain ordinary dividends received in tax years beginning after 2002 that are subject to the same 5% or 15% maximum tax rate that applies to net capital gains. Qualified Employee Plan - An employer's stock bonus, pension, or profit-sharing plan that is for the exclusive benefit of employees or their beneficiaries and that meets Internal Revenue Code requirements. Qualified Long-term Care Service - Services that are necessary diagnostic, preventative, therapeutic, curing, treating, mitigating, and rehabilitative services, or necessary maintenance and personal care services, required by a chronically ill individual. The services must be provided pursuant to a plan of care prescribed by a licensed health care practitioner. Qualified Nonrecourse Financing - Financing for which no one is personally liable for repayment and for which the financing is all of the following: (1) borrowed in connection with the activity of holding real property, (2) secured by real property used in the activity, (3) not convertible from a debt obligation to an ownership interest, and (4) loaned or guaranteed by any federal, state, or local government or borrowed from a qualified person. (Qualified persons generally include any person actively and regularly engaged in the business of lending money; for example, a bank or savings and loan association.) Qualified Organization - Generally, a charitable organization that must apply to the IRS to be considered a qualified tax-exempt entity (unless it is a church or government entity). Qualified Retirement Plan - A retirement plan that conforms to a specific set of legal rules. Qualified retirement plans include IRAs, 401(k), 403(b) and 457(b) plans. Conforming profit-sharing plans and employee stock ownership plans are also qualified retirement plans. Qualified Services (Religious) - Services performed in the exercise of the taxpayer's ministry or in the exercise of the taxpayer's duties as required by their religious order. Qualified Small Business - A sole proprietorship or a partnership that has average annual gross receipts (reduced by returns and allowances) of $5 million or less during a three-year period ending with the tax year of a net operating loss or the period the business was in existence if the business did not exist for the entire three-year period. Qualified Tuition Program (QTP) - A program (also known as a 529 plan or program) established by a state or by an eligible educational institution that is set up to allow either prepayment of or contributions to an account established for paying a student's qualified higher education expenses at an eligible educational institution.