12 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
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Tax
capital gain (or loss)
Accounting; Tax
A category of gain or loss under the tax law resulting from the sale or other disposition of specified property such as stock or bond investments, real estate, etc It does not include property used ...
capitalization rate
Accounting; Tax
The rate of interest used to discount the future income from a property to arrive at a present value
ad valorem (tax)
Accounting; Tax
Ad valorem means according to value An ad valorem tax is one based on the value of the property subject to taxation Advances Funds made available to another party In the case of a loan, it's the ...
interim financing
Accounting; Tax
Short-term financing that's conditional upon securing intermediate or long-term financing Also known as a bridge loan
interim statement
Accounting; Tax
A financial report that covers only a part of the company's year Often used to refer to a quarterly financial statement
involuntary conversion
Accounting; Tax
The unexpected and sudden destruction of an asset, e g , fire, theft, hurricane, etc The term can also mean a condemnation such as the taking of property by a state or local government
irrevocable trust
Accounting; Tax
A trust that cannot be altered or dissolved by the party who created it Property put into an irrevocable trust by the grantor or settlor cannot be retrieved Property placed in an irrevocaable trust ...
