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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

gross profit method

Accounting; Tax

An approach to estimating inventory at an interim period The approach is not allowed for year-end purposes or for tax reporting purposes A physical inventory must be made

gross revenue (gross sales)

Accounting; Tax

Includes all sales based on stated invoice amounts and unreduced by customer discounts, allowances, or returns Net sales are gross sales less discounts, allowances, etc

ground rent

Accounting; Tax

Where the building owner rents the land beneath the building from the land owner Ground rents generally are for an extended period of time, 99 years is not unusual There are often special tax and ...

debt

Accounting; Tax

Debt can impact federal income taxes in a number of ways. Discusses the tax impact of mortgage debt, student loan debt, margin loans, and canceled debts.