Occupancy Tax: The tax levied by many cities on a hotel stay. In addition to local taxes, there may be a set tax per room or per person added to the hotel bill.

 

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Occupancy Tax: The tax levied by many cities on a hotel stay. In addition to local taxes, there may be a set tax per room or per person added to the hotel bill.

Tax Deferred: A tax-deferred account allows you to postpone income tax that would otherwise be due on employment or investment earnings you hold in the account until some point the future, often when you . . . View Full Definition

Tax Deferred Exchange (1031 Exchange): Under Section 1031 of the Internal Revenue Code, some or all of the realized gain from the exchange of property may not need to be immediately recognized for tax purposes. Both properties in . . . View Full Definition

Tax Differential View (Of Dividend Policy): Allowing the capital gains tax on an asset to be payable only when the gain is realized by selling the asset.

Tax Deferral Option: An expense that a taxpayer is allowed to deduct from taxable income.

Tax Equity And Fiscal Responsibility Act Of 1982 (TEFRA): The view that shareholders prefer capital gains over dividends, and hence low payout ratios, because capital gains are effectively taxed at lower rates than dividends.

Tax Deed: An instrument, similar to a certificate of sale, given to a purchaser at a tax sale.

Tax Codes: Under the PAYE system of taxing income, tax codes are allocated annually to employees. These codes enable the employer to deduct tax at the correct rate from salaries or wages on a monthly ( . . . View Full Definition

Tax Clawback Agreement: The percentage of tax obligation for a particular taxable income.

Tax Credit: A tax credit is an amount you can subtract from the tax you would otherwise owe. Unlike a deduction or exemption, a credit is a dollar-for-dollar reduction of your tax bill. For example, if . . . View Full Definition