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Tax

Of or relating to the fees charged by a government on a product, income, or activity; and also to the system by which they are successfully levied.

Industry: Accounting

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Tax

Lessor

Accounting; Tax

A party who owns property and leases it to a tenant

Gross income

Accounting; Tax

Total sales less cost of goods sold Caution For income tax purposes, the definition is total taxable income from all sources before a deduction for cost of goods sold, cost of services, etc ...

Accountant's opinion

Accounting; Tax

If a independent certified public accountant is requested to audit a company's books, he will issue a opinion as to the condition of the financial statements There are several degrees of opinion ...

Lessee

Accounting; Tax

A party who rents property from another under a lease

Ground rent

Accounting; Tax

Where the building owner rents the land beneath the building from the land owner Ground rents generally are for an extended period of time, 99 years is not unusual There are often special tax and ...

Accounting rate of return

Accounting; Tax

A method of computing the profitability where the total cash inflow over the life of the project is reduced by expenses This amount is divided by the estimated life of the project to arrive at an ...

Life income period-certain annuity

Accounting; Tax

The annuitant is guaranteed payments for the rest of his life, but should he die before a certain time, there is a payout based on a minimum number of payments