1031 exchange (also called a tax-deferred exchange or a Starker exchange) refers to the ability of investors and organizations to replace one investment for a similar one instead of keeping the proceeds. For certain transactions, the exchange allows the investor or organization to defer capital gains taxes until the new investment is actually sold for the proceeds.
401(k) plans (also just called 401k) are types of retirement plans that an employer sponsors which allows employees to defer taxes.
401(k) plans (also just called 401k) are types of retirement plans that an employer sponsors which allows employees to defer taxes.
AB trust (also called a bypass trust or a credit shelter trust) is a tool often used by well-off married individuals to legally maximize their estate tax exemptions.
Depreciation is the reduced value of something over time. Accelerated depreciation is any loss of value where the business depreciates (i.e., accounts for the value loss of a fixed asset in tax filings) at a greater proportion of an asset’s expected lifetime value loss earlier in its life.
Accord broadly means agreement but has several specific legal uses.
Ad valorem is a Latin phrase that translates to “according to the value.”
Adjusted basis is the cost basis of an asset adjusted for various events during its ownership.
Adjusted gross income (AGI) is defined as the gross income earned by an individual minus several adjustments made to that income, such as trade and business deductions.