Tax

Category: V

  • Vested Interest

    Vested Interest means:an interest that includes a fixed right of present or future enjoyment. For example, a person is immediately vested in any amount in his or her individual retirement account. However, another employee may have to work for 5 years for a company before his or her right to a p…

  • Virgin S Corporation

    Virgin S Corporation means:an S corporation with no earnings and profits from a C-corporation tax year….

  • Vacation Pay

    Vacation Pay means:any taxable amounts paid to employees while they are on vacation, including amounts paid even if an employee chooses not to take a vacation. A cash basis taxpayer (employer) can deduct vacation pay when it is paid to the employee. An accrual basis taxpayer can deduct vacation …

  • Voting Stock

    Voting Stock means:shares in a business entity (corporation or company) that entitle the shareholder to voting and proxy rights….

  • Valuation

    Valuation means:the estimated worth or price, often required for both income and property tax purposes. The process of determining the value of the property based on local market conditions. For example, (1) a valuation may be prepared in accordance with instructions provided by a local property…