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The word tax assessment is used in different ways, but often refers to a tax liability owed by a taxpayer. In the case of property, a tax assessment is an evaluation or an estimate of value that is typically performed by a tax assessor. The assessment leads to an "assessed value," which is a base number used in the calculation of the property tax.
The change from progressive local taxation based on property values to a single-rate form of taxation regardless of ability to pay (the Community Charge, but more popularly referred to as the Poll Tax), led to widespread refusal to pay and to incidents of civil unrest, known colloquially as the 'Poll Tax Riots'.
A pre-tax account used to pay for either child or adult care while a married couple works, looks for work, or studies. depreciation The gradual decrease in the economic value of the capital stock of a firm, nation, or other entity, either through physical depreciation, obsolescence, or changes in the demand for the services of the capital in ...
An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income). Income tax generally is computed as the product of a tax rate times the taxable income. Taxation rates may vary by type or characteristics of the taxpayer and the type of income.
Tax professors typically teach that it was income to Forneris when he caught it because it was treasure trove. As a result, the person who catches a home run ball would generally be required to include the value of the ball in income in the year in which the catch took place, whether or not the person sold the ball and even whether he gave it ...
Pages in category "Accounting terminology" ... out of 98 total. This list may not reflect recent changes. 0–9. 80:125 rule; A. ... Deferred tax uncertainty; Double ...
Several theories of taxation exist in public economics. Governments at all levels (national, regional and local) need to raise revenue from a variety of sources to finance public-sector expenditures .
The Internal Revenue Code governs the application of tax accounting. Section 446 sets the basic rules for tax accounting. Tax accounting under section 446(a) emphasizes consistency for a tax accounting method with references to the applied financial accounting to determine the proper method. The taxpayer must choose a tax accounting method ...