Category: B
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Balance Sheet
Balance Sheet means:a financial statement that gives an accounting picture of the property owned by a company or individual and of claims against that property on a specific date. The left (debit) side of a balance sheet lists assets; the right (credit) side shows liabilities and […]
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Boot
Boot means:unlike property included to balance the values of like properties exchanged. Example of Boot: Learn more about tax examples, explanations and calculations here. In an exchange of property under Section 1031 of the Internal Revenue Code, Collins exchanges her warehouse, worth […]
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Business Interest Expense
Description and Definition of Business Interest Expense Interest which is incurred in the operation of a business. It's deductible as a business expense. Resources See Also Further Reading Business Interest Expense in the West's Tax Law Dictionary Business Interest Expense in "A […]
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Bond Premium
Bond Premium means:the amount the purchaser pays in buying a bond that exceeds the face or call value of the bond. The premium can be amortized each year by the bondholder to reflect the fact that the true interest rate is less than the coupon rate. Amortization is elective for taxable […]
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Balloon Payment
Description and Definition of Balloon Payment A balloon payment is usually a final loan payment that is considerably higher than the prior regular payments. You may have a balloon payment for a short term loan that you intend to refinance. Resources See Also Further Reading Balloon Payment in […]
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Business Taxes
Description and Definition of Business Taxes Businesses pay taxes on their profits to federal, state and local governments. Businesses also pay unemployment insurance, worker's compensation, social security and Medicare insurance. Resources See Also Further Reading Business Taxes in the […]
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Blind
Description and Definition of Blind For tax purposes, you are considered blind if: you are totally blind, or your vision with corrective lenses is no better than 20/200 in your best eye, or you have a visual field not greater than 20 degrees. Blind Individuals Issue You may find information […]
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Bookkeeping
Description and Definition of Bookkeeping The regular and systematic recording of the transactions affecting a business. Resources See Also Further Reading Bookkeeping in the West's Tax Law Dictionary Bookkeeping in "A Dictionary of Taxation"
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Bankruptcy Tax
Bankruptcy Tax Act of 1980 Issue You may find information about Bankruptcy Tax Act of 1980 in this Tax Platform of the American Encyclopedia of Law.
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Benefits Received
Description and Definition of Benefits Received A "Benefits Received" system of taxation occurs when people pay taxes in relation to the amount of government benefits they receive. Some of the benefits U.S. citizens receive include welfare, Medicare, and Medicaid. Some people believe […]