Tag: ES
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Estimated Useful Life
Estimated Useful Life means:the period of time over which an asset will be used by a taxpayer. In theory, depreciable assets are written off over the estimated useful life of the asset for depreciation purposes. However, more recent tax laws have used artificial recovery periods that are unrelat…
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Escheat
Escheat means:the reversion of property to the state in the event that the owner dies without leaving a will and has no legal heirs….
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Estimated Tax Payment
Estimated Tax Payment means:a quarterly tax payment by a taxpayer on income that is not subject to withholding taxes, in an amount that represents a projection of the ultimate tax liability for the taxable period. To avoid a penalty for underestimation, estimated payments must equal 90% (for ind…