Tag: property

What is 'Bailment' The contractual transfer of possession of assets or property for a specific objective. In bailment, the deliverer of the...

DefinitionBasis, as used in United States tax law, is the original cost of property, adjusted for factors such as depreciation. When property is sold,...

What is a Charitable Remainder Trust A Charitable Remainder Trust, or CRT, is a type of trust that allows the settlor (the person establishing the...

Charitable contributions deduction is a tax incentive offered to individuals that donate sums to a recognized charity. The tax deduction allows taxpayers to reduce...

What is Cancellation of Debt (COD)? Cancellation of debt (COD) is the forgiveness of debt. This can occur when a lender agrees to cancel all...

What is passive income and why should you care Passive income is a type of income that does not require active work to earn. This...

What is a 'Patent' A patent is a government license that gives the holder exclusive rights to a process, design or new...

DefinitionA parking violation is the act of parking a motor vehicle in a restricted place or for parking in an unauthorized manner. It is...

What is 'Qualified Domestic Relations Order - QDRO ' A type of court order typically found in a divorce agreement that recognizes...

What is 'Qualified Trust' A tax-advantaged fiduciary relationship between an employer and an employee in the form of a stock bonus, pension,...