Tag: CA

  • Capital Budget

    Description and Definition of Capital Budget The estimated amount planned to be expended for capital items in a given fiscal period. Capital items are fixed assets such as facilities and equipment, the cost of which is normally written off over a number of fiscal periods. Shows plans for […]

  • Carryback

    Carryback means:a process by which the deductions or credits of one taxable year that cannot be used to reduce tax liability in that year are applied against a tax liability in an earlier year or years. Former IRC (check if this IRC provision is current here) §1212. See also other […]

  • Capital Expenditure

    Capital Expenditure means:an improvement (as distinguished from a repair) that will have a life of more than 1 year. Capital expenditures are generally depreciated or depleted over their useful life, as distinguished from repairs, which are subtracted from the income of the current year. […]

  • Cancellation of Debt

    Description and Definition of Cancellation of Debt Forgiveness of a debt without payment or consideration. Cancellation of debt is taxable as income to the debtor unless the creditor intended it as a gift or it meets certain exceptions relating to bankruptcy, insolvency, or farming. Resources […]

  • Canal Zone

    Canal Zone Issue You may find information about Canal Zone in this Tax Platform of the American Encyclopedia of Law.

  • Capital Gain Distribution

    Capital Gain Distribution may have one of the following meanings, depending the context of the term: 1. Mutual funds. Distributions received by mutual funds earned as capital gains retain that character when passed on to the mutual fund's investors. 2. Corporate liquidation. The difference […]

  • Calendar Quarter

    Description and Definition of Calendar Quarter A quarter that for tax purposes is January through March, April through June, July through September, or October through December. Resources See Also Further Reading Calendar Quarter in the West's Tax Law Dictionary Calendar Quarter in […]

  • Cash Wages

    Description and Definition of Cash Wages Cash wages include wages paid by check, cash, or money order. Cash wages do not include the value of food, lodging, clothing, or other non-cash items an employee receives. Resources See Also Further Reading Cash Wages in the West's Tax Law […]

  • Capital Loss Carryover

    Description and Definition of Capital Loss Carryover The amount of capital loss not allowed as a deduction in the current year and carried over to the next year. A capital loss that is not deductible because it exceeds the annual $3,000 capital loss ceiling. A carryover loss may be deducted […]

  • Capital Loss

    Capital Loss means:the loss from the sale of a capital asset. Individuals are limited to $3,000 of loss that can be used annually to offset ordinary income; corporations may offset capital losses against capital gains but not against ordinary income. An individual may carry a capital […]