Category: C
-
Corporation
Corporation means:a legal entity, generally chartered by a state and separate and distinct from the persons who own it, giving rise to a jurist's remark that it has "neither a soul to damn nor a body to kick." Nonetheless, it is regarded by the courts as an artificial […]
-
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 […]
-
Combat Zone
Description and Definition of Combat Zone A geographical area designated by the President of the United States as a combat zone. Members of the armed forces can exclude from taxable income military pay that they earn while working in a combat zone. Resources See Also Further Reading Combat […]
-
CFR
Description and Definition of CFR Code of Federal Regulations. Resources See Also Further Reading CFR in the West's Tax Law Dictionary CFR in "A Dictionary of Taxation"
-
Cost of Goods Sold
About Cost of Goods Sold: Cost of Goods Sold (COGS) ia figure representing the cost of buying raw materials and producing finished goods. Included are clear-cut factors, such as direct factory labor, as well as others that are less clear-cut, such as overhead. U.S. and other Developed […]
-
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 […]
-
Certificate of Deposit
Description and Definition of Certificate of Deposit A debt instrument issued by a bank or savings institution that has a set maturity date. Longer investments generally earn higher interest. Resources See Also Further Reading Certificate of Deposit in the West's Tax Law Dictionary […]
-
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 […]
-
Current Assets
Current Assets means:the cash, accounts receivable, inventory, and other assets that are likely to be converted into cash, sold, exchanged, or expensed in the normal course of business, usually within a year. Description and Definition of Current Assets Current assets are assets of a […]
-
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 […]