Statutory Statement Of Accounting Principle Ssap Federal Income Taxes

Definition of "Statutory statement of accounting principle (ssap) 83—federal income taxes"

State law by which insurance companies are permitted to establish deferred tax assets and liabilities subject to maximum limitations.

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Related Real Estate Glossary terms

Elevator Liability Insurance

Coverage for suits brought by a plaintiff as the result of bodily injury incurred while using an ele ...

Fireproof

Materials that are inherently noncombustible, are widely used in constructing exterior surfaces and ...

Flaw

Deficiency or defect existing in the way a home has been constructed. A flaw may be corrected by the ...

Common Law

System of jurisprudence that is based on court decisions instead of statutes passed by a legislative ...

Gross Income

Total income before adjustment for deduction as applied to tax calculation for both the individual a ...

Direct Steam System

Heating system dependent upon radiators in each room of the structure. The steam goes form the boil ...

Related Real Estate FAQ

What Is A Qualifying Ratio?

A qualifying ratio is the percentages a lender compares to see whether you qualify for a loan. ...

What Is A Point?

A point is equal to 1 percent of a loan amount. Lenders charge points in exchange for lowering the i ...

What Is A Loan-to-value (LTD) Ratio?

A loan-to-value ratio is used by lenders to state how much you have financed. If you put down 20 per ...

What Is A Mortgage?

A mortgage is a legal document that pledges your property as security (like collateral) for a loan. ...

What Is Depreciation?

Depreciation is a decline in the value of property due to general wear and tear, or is also known as ...

What Is Flood Insurance?

Flood insurance is insurance that compensates for the physical property damage resulting from rising ...

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I looked at a property yesterday with a REALTOR® who seems to be clueless. I am really interested in purchasing the property, though. Can I switch agents and still make the purchase? Should I Pay Extra Each Month? What is zoning? What is depreciation? What is a mortgage insurance premium (MIP)?