Tax

Tag: BA

  • Back Pay Award

    Back Pay Award may have one of the following meanings, depending the context of the term: 1. under Title VII, the taxable amount received for sex-based employment discrimination. See Therese A. Burke, 112 S.C. 1867 (1992). 2. (other than Title VII claim) the damages received for a tort or a tort-typ…

  • Bad Debt

    Bad Debt means:a debt that is not collectible and is therefore worthless to the creditor. A debt may become uncollectible because the debtor is insolvent. A business bad debt may be written off under the specific charge-off method. A personal bad debt is normally not deductible and, if allowed d…

  • Bardahl Formula

    Bardahl Formula means:a judicially developed imprecise operating cycle formula used to determine the reasonable working capital needs of a corporation in an accumulated earnings tax situation….

  • Base Period

    Base Period means:a particular time in the past used as a yardstick or starting point when measuring economic data (e.g., when calculating the research and development credit). A base period is usually a year or an average of years, but it may also be a month or other time period….

  • Base Stock Inventory Method

    Base Stock Inventory Method means:a method of costing inventory in which a certain portion of inventory is considered fixed, and the cost of that base stock is not adjusted for any market fluctuations. Such costing is not allowed for income tax purposes. See …

  • Basket Purchase

    Basket Purchase means:a single purchase transaction in which more than one asset is acquired and the cost apportioned to the various assets on the basis of their relative fair market values. Former Tax Regulation (check if this Reg. is current here…

  • Bad-debt Reserve

    Bad-debt Reserve means:a reasonable percentage of accounts receivable, which then becomes an addition to the reserve for bad debts. For example, if a business determines that, on the average, 3% of its accounts receivable become worthless during the taxable year, the business may deduct 3% and a…

  • Bankruptcy Court

    Bankruptcy Court means:a U.S. district court created specifically to carry out the Federal Bankruptcy Act….

  • Baseball Player Contract Cost

    Baseball Player Contract Cost means:an intangible asset that must be capitalized, and amortization taken, over its useful life. Former Revenue Ruling (check if this Rev. Rul. interpretation is current…

  • Bank Deposit Method

    Bank Deposit Method means:an indirect method of calculating a taxpayer's income, used by U.S. Internal Revenue Service (IRS) agents when records are suspect or unavailable. Under this method, the taxpayer's bank deposits and cash expen…