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Tax Glossary
What Is the “Mark-to-Market Election”?
What Is the Mark-to-Market Election? The mark-to-market election is a special tax choice under Internal Revenue Code Section 475(f) available...
Tax Glossary
What Is “Margin Interest”?
What Is Margin Interest? Margin interest is the interest charged by a brokerage firm on the money you borrow to...
Tax Glossary
What Is “Luxury auto depreciation limits”?
What Are Luxury Auto Depreciation Limits? Luxury auto depreciation limits are IRS-imposed caps on the maximum dollar amount a business...
Tax Glossary
What Is “Like-Kind Exchange”?
What Is a Like-Kind Exchange? A like-kind exchange, often called a Section 1031 exchange, is a tax-deferral strategy that allows...
Tax Glossary
What Is “Involuntary Conversion”?
What Is Involuntary Conversion? An involuntary conversion occurs when your property is destroyed, stolen, condemned, or disposed of under the...
Tax Glossary
What Is “Investment Interest Expense”?
What Is Investment Interest Expense? Investment interest expense is the interest paid on money borrowed to purchase or carry assets...
Tax Glossary
What Is “Intangible asset”?
What Is an Intangible Asset? An intangible asset is a piece of property that has value but lacks a physical...
Tax Glossary
What Is “Installment Sale”?
What Is an Installment Sale? An installment sale is a sale of property where you receive at least one payment...
Tax Glossary
What Is “Incentive Stock Option”?
What Is an Incentive Stock Option (ISO)? An Incentive Stock Option (ISO) is a type of corporate benefit that gives...
Tax Glossary
What Is “Household Employment Tax”?
What Is Household Employment Tax? Household employment tax, often nicknamed the “Nanny Tax,” refers to the federal taxes you must...