Tag: property

What is a 'Generation-Skipping Trust' A generation-skipping trust is a type of legally binding trust agreement in which the contributed assets are...

DefinitionThe Garn–St Germain Depository Institutions Act of 1982 is an Act of Congress that deregulated savings and loan associations and allowed banks to provide...

What is 'Generation-Skipping Transfer Tax - GSTT' A tax incurred when there is a transfer of property by gift or inheritance to...

What is a tangible asset A tangible asset is an asset with a physical form. Tangible assets include both fixed assets, such as buildings and...

What is 'Tangible Personal Property' Tangible personal property is a tax term describing personal property that can be physically relocated, such as...

Financial Correlation basically measures the relationship between the changes occurring in two or more variables at the same time. Correlation plays a major role...

What is tax exempt status Tax-exempt status is a designation given by the Internal Revenue Service (IRS) to organizations that meet certain criteria. To be...

Definition A financial process is said to be tax efficient if it is taxed at a lower rate than an alternative financial process that achieves...

What is a tax deed sale A tax deed sale is a public auction of property that has been foreclosed upon because the owner has...

What is a tax base and why is it important A tax base is the total value of all taxable property in a jurisdiction. This...