Bookkeeping fraud (also referred to as accounting fraud) refers to types of fraud committed by officers, accountants, and other employees that manipulate company finances and records to achieve some kind of personal gain. There are...
tax
bookkeeping fraud
Overview
boot
Boot refers to “something that is given in addition to.” Boot is the money or other property which is added to an exchange to equalize the value of a trade.
In the context of like-kind property under Internal Revenue Code...
bypass trust
Bypass trust (also called an AB trust or a credit shelter trust) is a tool used by well-off married individuals to legally maximize their estate tax exemptions.
The strategy involves creating two separate trusts after one...
C corporation
A C corporation is any corporation that does not qualify or elect to be an S corporation under the Internal Revenue Code. A C corporation is a legal structure for a corporation where the company’s assets are separate from the owners’ assets....
certified public accountant (CPA)
A certified public accountant (CPA) is an accounting professional who has met all the requirements to earn a CPA license from the State’s Board of Accountancy (SBA). The main difference between an accountant and CPAs is that CPAs may perform...
charitable trust
A charitable trust is a trust made for the benefit of specific charitable purposes. The purpose of the trust must fall into one of the specific purpose categories or is it not valid. Charitable trusts are favored by the law. They do not...
charitable trusts purposes
A charitable trust qualifies for certain favorable treatment under U.S. law. For example, it is not subject to the rule against perpetuities and cannot fail for a lack of definite beneficiaries. To qualify as a charitable trust, the trust...
cigar
For the purposes of taxation and FDA regulation, “cigar” means “any roll of tobacco wrapped in leaf tobacco or in any substance containing tobacco” unless, “because of its appearance, the type of tobacco used in the filler, or its packaging...
cigarette
For the purposes of taxation and FDA regulation, a cigarette is defined in 26 U.S. Code § 5702 as
“any roll of tobacco wrapped in paper or in any substance not containing tobacco, and any roll of tobacco wrapped in any...
Cohan rule
Cohan rule is a that has roots in the common law. Under the Cohan rule taxpayers, when unable to produce records of actual expenditures, may rely on reasonable estimates provided there is some factual basis for it. The rule allows taxpayers...