Search results for: “taxation of business sale”
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Tax
Legal Definition and Related Resources of Tax Meaning of Tax An impost , a tribute imposed upon the subject . A compulsory imposition by competent authority on the subjects. there can be no option on the part of the taxpayer to pay or not to pay […]
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Turnover
Financial Definition of Turnover Meaning of Turnover Mutual Funds: A measure of trading activity during the previous year, expressed as a percentage of the average total assets of the fund. A turnover ratio of 25% means that the value of trades […]
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Accounting Cycle
Meaning of Accounting Cycle in the United States Tax SystemIn accounting and taxing systems around the world, accounting procedures beginning with an initial entry, such as the first sale of the year, and culminating with the closing entries, which are posted after year-end.See also oth…
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Accrual basis
A method of keeping accounts which shows expenses incurred and income earned for a given period, although such expenses and income may not have been actually paid or received in cash. See First National Bank v State, 29 So.2d 673.
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Public
Legal Definition and Related Resources of Public Meaning of Public All the inhabitants of a particular place . The whole body politic; or the aggregate of the citizens of a state , district or municipality . Open to all, open for the use, […]
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Accounts Receivable
Money owed by customers….
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Capital Gains
For income tax purposes, gain upon the sale of certain property, capital assets, chiefly corporate securities and real estate, is taxed at a lower rate than ordinary income, e.g., wages and ordinary business profits. Long term capital gains, i.e., gains on property held […]