When a taxpayer acquires an asset, which is used for business purposes for a period of time, the Tax Code allows the company to deduct the cost of the asset over the consuming period, instead of deducting the cost at the purchasing time. This...
accounting
tax attorney
A tax attorney, also known as a tax lawyer, refers to an attorney who specializes in taxes. Tax attorneys are typically involved in analyzing from the tax perspective, advising clients on the tax consequences of specific transactions, and...
tax auditor
A tax auditor is a financial professional who specializes in taxes and evaluates financial records to determine whether they comply with applicable laws and regulations. Tax auditors, applying accounting principles, examine companies,...
uncommitted credit facility
Uncommitted credit facilities are a short-term credit facility which are subject to the discretion of both the borrower and the lender. That is, the creditor has no obligation to extend credit to the borrower, and the borrower has no...
unearned income
Definition from Nolo’s Plain-English Law DictionaryIncome from investments, such as interest, dividends, or capital gains, or any other income that isn't compensation for services.
Definition provided by Nolo’s Plain-English Law Dictionary.
wash sale
Wash sale is defined as selling of an asset such as stocks or bonds on a loss and repurchasing of other stocks or bonds of substantially similar nature within a very short period of time frame. This method is often used to realize a loss, so...