10 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
maturity date
Accounting; Tax
The date on which a loan, mortgage, bond, etc is due and any outstanding principal must be paid
asset-based financing
Accounting; Tax
Loans or other financings where the creditors and any equity investors base their lending/investment decisions on the cash flow from the project or asset
adequate consideration
Accounting; Tax
An amount equal to the fair market value of the asset or service provided Adequate consideration may be determined by the price quoted on an exchange, an appraisal, comparable sales, etc For tax ...
mechanic's lien
Accounting; Tax
A claim in favor of mechanics, contractors, laborers or material suppliers against a building or other structure The lien can only be filed by persons who worked on the building or supplied ...
assignment
Accounting; Tax
A transfer of your rights to another party For example, in the case of an insurance policy it's the partial or total transfer of the policyowner's rights to another party If you're selling a piece ...
adjusted basis
Accounting; Tax
Used for determining depreciation and gain or loss on the disposition of an asset Your adjusted basis in an asset is your beginning basis , decreased by depreciation, depletion or any Sec 179 ...
member
Accounting; Tax
The owners of corporations are shareholders; the owners of partnerships are partners In an LLC (limited liability company) the owners are known as members Modified Adjusted Gross Income Your AGI ...
