Tag: taxes
Tax Deferred
DefinitionTax deferral refers to instances where a taxpayer can delay paying taxes to some future period. In theory, the net taxes paid should be...
Tax Bracket
DefinitionTax brackets are the divisions at which tax rates change in a progressive tax system. Essentially, they are the cutoff values for taxable income...
Tax Drag
What is 'Tax Drag' The reduction of potential income due to taxes. Drag describes the loss in returns owing to taxation, usually...
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 Anticipation Bill (TAB)
What is a TAB and what are its benefits
A Tax Anticipation Bill, or TAB, is a type of loan that allows taxpayers to borrow...
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 And Price Index (TPI)
What is 'Tax And Price Index - TPI' A measure of the percentage that a consumer's income would have to adjust by...