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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

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Tax

depreciation recapture

Accounting; Tax

When tangible personal property is sold, the tax gain is based on the difference between the asset's adjusted basis and the selling price Any gain up to the amount of depreciation taken is deemed ...

direct costs

Accounting; Tax

Costs directly related to conversion of raw materials into product Includes raw materials, direct labor and variable overhead

direct costing

Accounting; Tax

Also know as variable costing, a method of calculating costs that involves only raw materials, direct labor and variable overhead

direct overhead

Accounting; Tax

Costs directly associated with the manufacture of goods That could include factory lighting, rent, insurance Indirect overhead could include office expenses, R&D, lighting, etc

Also known as a private placement, the sale of securities directly to one or more professional investors or institutions, frequently insurance companies The sale of securities in this fashion avoids ...

disappearing deductible

Accounting; Tax

An insurance policy where losses below a certain amount are excluded Those above a certain amount are paid in full and those in between are paid a multiple of the loss