Tag: BU

  • Budget

    Description and Definition of Budget An itemized listing of the amount of all estimated revenue and the amount of all estimated costs and expenses that will be incurred in obtaining the revenue during a given period of time for a business. A budget is typically for one business cycle, such as […]

  • Buying on Margin

    Description and Definition of Buying on Margin Purchasing securities with borrowed money. Resources See Also Further Reading Buying on Margin in the West's Tax Law Dictionary Buying on Margin in "A Dictionary of Taxation"

  • Business Expenses

    Description and Definition of Ordinary and Necessary Business Expenses A legal requirement for the deductibility of a business expense. Business expenses must be ordinary and necessary to be fully deductible as current expenses, as opposed to unreasonable expenses. Resources See Also Further […]

  • 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 […]

  • 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 […]

  • Burden of Proof

    Burden of Proof means:the duty of a plaintiff, at the beginning of a tax trial, to make a prima facie showing of each fact necessary to establish the existence of a cause of action. In general, the burden of proof is on the taxpayer in a civil tax case and on the U.S. Internal Revenue…

  • Business Asset

    Description and Definition of Business Asset An asset held for business purposes, such as a car, computer equipment, or office furniture. Business assets are depreciable over a period of years. Assets such as office supplies, small hand tools, and general supplies are not business assets and […]

  • Business

    Business Tax Law Business General Information Business Entertainment Expenses Business Income Business Travel Expenses Business Use of Car Business Use of Home Business Use of Home – Is It Deductible? Business Use of Home – Taxes and Interest Principal Business Activity Codes Partnership / 1065 2005 1065 K-1 instructions Basis Limitations for K-1 Losses Dispositions…

  • Business Entities

    Business Entities Business Entities Content Tax Planning for Corporations and Shareholders This section explores some details of Tax Planning for Corporations and Shareholders in relation to business entities taxation in the United States. Tax Planning for Partners, Partnerships and LLCs This section explores some details of Tax Planning for Partners, Partnerships and LLCs in relation…

  • Built-in Gain

    . Built-in Gain and Built-in Loss 1. any unrealized gain (loss) attributable to appreciation (depreciation) in the value of all assets held by a C corporation that elects to become an S corporation. See also built-in gain tax. Former IRC (check <a href="http://lawi.us/internal-revenue-code-provisio…