Tag: taxation
Tax Expense
DefinitionA company's tax expense, or tax charge, is the income before tax multiplied by the appropriate tax rate. Generally, companies report income before tax...
Tax Benefit
What is a 'Tax Benefit' A tax benefit is an allowable deduction on a tax return intended to reduce a taxpayer's burden...
Tax Efficiency
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...
Tax Code
DefinitionTax law is an area of legal study dealing with the constitutional, common-law, statutory, tax treaty, and regulatory rules that constitute the law applicable...
Tax Base
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...
Tax Avoidance
DefinitionTax avoidance is the legal usage of the tax regime in a single territory to one's own advantage to reduce the amount of tax...
Tax Deed
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...
Tax Accounting
DefinitionU.S. tax accounting refers to accounting for tax purposes in the United States. Unlike most countries, the United States has a comprehensive set of...
Tax Cheat
What is a tax cheat and why do they do it
A tax cheat is someone who doesn't pay their taxes, or who pays less...
Tax Attribute
What is 'Tax Attribute' A type of loss or tax credit that must be reduced as a result of the exclusion of...