Tag: taxes
Qualified Widow Or Widower
What is 'Qualified Widow Or Widower' The least common of the five types of tax filing status each taxpayer must select from...
Qualified Terminable Interest Property (QTIP) Trust
What is a Qualified Terminable Interest Property (QTIP)?
A Qualified Terminable Interest Property, or QTIP, is a type of trust that provides income to a...
Qualified Personal Residence Trust (QPRT )
What is 'Qualified Personal Residence Trust – QPRT ' A specific type of trust that allows its creator to remove a personal...
Qualifying Relative
What is 'Qualifying Relative'
A federal income tax designation that allows a taxpayer to claim as a dependent someone for whom he or she provided...
Value Added
What is 'Value Added' Value-added describes the enhancement a company gives its product or service before offering the product to customers. Value-added...
Value-Added Tax (VAT)
What is a 'Value-Added Tax - VAT' A value-added tax (VAT) is a type of consumption tax that is placed on a...
Fiat Money
DefinitionFiat money is a currency without intrinsic value that has been established as money, often by government regulation. Fiat money does not have use...
Family Limited Partnership (FLP)
What is 'Family Limited Partnership - FLP' A type of partnership designed to centralize family business or investment accounts. FLPs pool together...
Wasting Trust
What is 'Wasting Trust' A trust that holds plan assets when a qualified plan is frozen. A "wasting trust" derives its name...
Wash Sale
DefinitionA wash sale is a sale of a security at a loss and repurchase of the same or substantially identical security shortly before or...