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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...
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...