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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...
Tax Glossary
What Is “Depletion”?
What Is Depletion? Depletion is a tax deduction used by owners of natural resources to account for the physical reduction...
Tax Glossary
What Is “Convention”?
What Is a Depreciation Convention? In the world of U.S. taxes, a “convention” is a specific rule that determines when...
Tax Glossary
What Is “Business-use percentage”?
What Is Business-Use Percentage? The business-use percentage is the portion of time or space an asset is used for business...
Tax Glossary
What Is “Bonus Depreciation”?
What Is Bonus Depreciation? Bonus depreciation is a tax incentive that allows businesses to immediately deduct a large percentage of...
Tax Glossary
What Is “Bond Premium”?
What Is Bond Premium? A bond premium occurs when you purchase a bond for an amount greater than its face...
Tax Glossary
What Is “Bargain Element”?
What Is a Bargain Element? A bargain element is the difference between the fair market value of a stock and...
Tax Glossary
What Is “Amortization”?
What Is Amortization? Amortization is a tax method used to spread the cost of an intangible asset over its useful...
Tax Glossary
What Is “Alternative Minimum Tax Adjustment”?
What Is an Alternative Minimum Tax (AMT) Adjustment? An Alternative Minimum Tax (AMT) adjustment is a specific change made to...
Tax Glossary
What Is “Airbnb tax”?
“Airbnb tax” is a shorthand term used by hosts to describe the various federal, state, and local tax obligations that...