Tag: TI
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Tips
Description and Definition of Tips Additional income paid by a customer to an employee for good service. To keep track of your tips keep a daily "tips-earned log" where you write down the exact amount of tips you earn each day. Resources See Also Further Reading Tips in the […]
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Tip
About Tip: Tip or Tip Income is a payment (of money or goods) over and above a formal cost or charge (tips go beyond the stated amount of the bill and are given voluntarily); taxable to the receiver and sometimes deductible as a business expense. For services performed by food servers, baggage handl…
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Timely Filing
About Timely Filing: generally, for a tax return, claim, statement, or other document, mailing on or before the due date. Former IRC (check if this IRC provision is current here) §7502….
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Time Value of Money
Time Value of Money means:a concept that money available later is worth more than the same amount in the future because of its present potential earning capacity. This concept is used for computations involving imputed interest and original issue discount….
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Title Insurance
Title Insurance means:an insurance policy that protects the holder from loss sustained through defects in the title to real estate. Mortgage lenders virtually always require a borrower to buy a mortgagee's policy of title insurance. The amount paid for title insurance should be capitalized into …