Tax

Tag: VA

  • Vacation Home

    Vacation Home means:a dwelling used by its owner occasionally for recreational or resort purposes; it may be rented to others for a portion of the year. Income tax deductions pertaining to vacation homes depend on the frequency of use by the owner. Generally a business loss cannot be […]

  • Value

    Value may have one of the following meanings, depending the context of the term: 1. worth of all the rights arising from ownership. 2. the quantity of one thing that will be given in exchange for another. A piece of property may have a certain value to its owner (value in use) equal to the…

  • Value Added

    Description and Definition of Value Added Increases in the sales value of an item through production. Resources See Also Further Reading Value Added in the West's Tax Law Dictionary Value Added in "A Dictionary of Taxation"

  • Variable Rate Loan

    Description and Definition of Variable Rate Loan A loan with an interest rate that changes with market conditions. Resources See Also Further Reading Variable Rate Loan in the West's Tax Law Dictionary Variable Rate Loan in "A Dictionary of Taxation"

  • Variable Annuity

    Variable Annuity means:a life insurance annuity whose value fluctuates with that of an underlying securities portfolio or other index of performance. Contrast fixed annuity….

  • Valuable Consideration

    Valuable Consideration means:a type of promised payment upon which a promisee can enforce a claim against an unwilling promisor. Valuable consideration includes money, extension of time, and other equivalents for the grant and is distinguished from good consideration, which may be love and affec…

  • Value-added Tax

    Value-added Tax means:a tax imposed at each step in the production process, levied upon the difference between the purchase cost of the asset to the taxpayer and the price at which it may be sold-the value added to it. Specific type of turnover tax levied at each stage in the production and dist…

  • 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 …

  • 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…