摘要: The process of re-determining the value of property or land for tax purposes.
Property is usually reassessed on an annual basis. You may request a "reassessment" if you disagree with y[阅读全文:]
摘要: 1. A condition set by the seller of an asset that gives him/her the right to purchase back some or all of the assets within a certain period of time.
2. A situation where an individual must ad[阅读全文:]
摘要: When an investment or asset is sold for an amount that is greater than what was originally paid. Recognizing gains on an asset will trigger a capital gains situation, but only if the asset is deemed t[阅读全文:]
摘要: When an investment or asset is sold for less than its purchase price. Recognized losses may be reported for income tax purposes and then carried over into future periods.
Recognized capi[阅读全文:]
摘要: A specific class of depreciable real estate. Recovery property describes tangible depreciable property placed in service between 1980-1987, and is eligible for Accelerated Cost Recovery System (ACRS) [阅读全文:]
摘要: A federal tax filing status available to widows and widowers for two years after their spouse's death. In the year the spouse dies, the widow or widower can (but is not required to) still file as mar[阅读全文:]
摘要: A method for determining when and how much income was earned over a period of time. The ratable accrual method can be used to compute the interest income for tax purposes. This is opposed to the paym[阅读全文:]
摘要: Any property that is attached directly to land, as well as the land itself. Real property not only includes buildings and other structures, but also rights and interests. Real property can be either r[阅读全文:]
摘要: An electric vehicle that qualifies the owner to claim a nonrefundable tax credit. A qualified electric vehicle must have at least four wheels and be designed for public use. It must also be powered pr[阅读全文:]
摘要: Expenses such as tuition and tuition related expenses that an individual, spouse, or child must pay to an eligible post-secondary institution.
These expenses are important because they c[阅读全文:]