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Tax Glossary
What Is “Form 6252”?
What Is Form 6252? IRS Form 6252 is the document used to report income from an installment sale, which is...
Tax Glossary
What Is “Form 4797”?
What Is Form 4797? IRS Form 4797, officially titled “Sales of Business Property,” is the tax form used to report...
Tax Glossary
What Is “Fixed Asset”?
What Is a Fixed Asset? A fixed asset is a piece of tangible property that you own and use in...
Tax Glossary
What Is “Fair market value of stock”?
What Is Fair Market Value (FMV) of Stock? Fair market value (FMV) of stock is the price that a share...
Tax Glossary
What Is “Exercise price”?
The exercise price, also commonly known as the “strike price,” is the fixed price per share at which you can...
Tax Glossary
What Is “Escrow account”?
What Is an Escrow Account? An escrow account is a neutral holding area managed by a third party—usually a mortgage...
Tax Glossary
What Is “Employee Stock Purchase Plan”?
What Is an Employee Stock Purchase Plan (ESPP)? An Employee Stock Purchase Plan (ESPP) is a company-run program that allows...
Tax Glossary
What Is “Disqualifying Disposition”?
What Is a Disqualifying Disposition? A disqualifying disposition occurs when you sell or trade stock acquired through an Incentive Stock...
Tax Glossary
What Is “Depreciation”?
What Is Depreciation? Depreciation is a tax method used to spread the cost of a business asset over the course...
Tax Glossary
What Is “Depreciable basis”?
What Is Depreciable Basis? Depreciable basis is the total dollar amount of a business asset’s cost that is eligible to...