Tax Preference Item
Definition of "Tax preference item"
Item falling under Section 57 of the Internal Revenue Code that may result in the imposition of the alternative minimum tax (AMT). These items of otherwise exempt income or deductions or of special tax benefit were targeted to ensure that taxpayers who benefit should pay the minimum amount of tax. An example is contributions of appreciated property.
Popular Real Estate Terms
Average of income, retail revenue, and population of a locality as a percentage of the entire United States. It reflects the economic status of a particular region. ...
(1) Cash revenue from product sales or services rendered less cash expenses. It is different from accrual earnings. (2) The money available after deducting operating expenses and mortgage ...
Regular rental of property between the lessee and lessor for a fee. An operating lease does not satisfy the criteria for a capital lease. An example is renting an apartment. A lessee ...
Bank modifies the borrower's mortgage obligation, such as when the bank approves the homeowner's request for an extension of time to pay because of illness or loss of a job. One's ...
Nonload bearing layer of brick covering a wall of decorative purposes only. The wall is usually constructed of wood framing or masonry block. ...
Distribution of population over a given area of land. ...
Transfer of personal property via a will as a gift to the recipient. ...
Giving of a promise or guarantee to the receiver to instill confidence. ...
Wedge-shaped step found on a spiral staircase with a wider tread on its outside portion. ...
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