5 Terms
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Tax
Of or relating to the fees charged by a government on a product, income, or activity; and also to the system by which they are successfully levied.
Industry: Accounting
Add a new termContributors in Tax
Tax
additional paid-in capital
Accounting; Tax
Equity contributions to a corporation in excess of the amount of capital stock.
market-value clause
Accounting; Tax
A clause in an insurance policy that allows for the settlement of a claim based on the market value rather than the actual cash value
asset activity ratios
Accounting; Tax
Rations used to determine how effectively the business is managing the assets Examples include inventory turnover and receivables turnover
add-on interest
Accounting; Tax
Interest charged on the original principal of a loan, despite a reduction in principal by repayments Also called Add-On Rate
material participation
Accounting; Tax
Regular, substantial, and continuous involvement in a business on the part of either the taxpayer and/or spouse Allows losses from the trade or businesse to be deducted against ordinary income ...
asset-backed security
Accounting; Tax
A security collateralized by assets such as receivables, inventory, installment contracts, loans (in the case of a lender), etc
ademption
Accounting; Tax
The sale or other disposal of a property bequeathed in will so that the bequest is no longer effective
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