Tax Return
Definition of "Tax return"
generic name of the form used to file taxes payable to a federal, state, or local government. The tax return includes items such as gross income, deductions, tax credits, and tax due. Individual taxpayers file on a calendar year basis using Form 1040m which is due 3 1/2 months after the tax year. Corporations prepare Form 1120 on a calendar year or fiscal year basis. It is due 2 1/2 months after the tax year. The partnership tax return is Form 1065.
Popular Real Estate Terms
Fibrous, fire-proofing material that was used in buildings and homes for insulation. ...
The right and duties of using and holding property. ...
Typically, the term rider defines a financial concept, implying a written modification applied to an insurance policy, altering its initial clauses and provisions. The rider can update the ...
Use of other people's money (OPM) in an attempt to maximize the return but at high risk. The use of leverage in real estate investing is a way to maximize yield on a small down payment. ...
Property of a defaulted borrower is sold under court order, and the judge must approve the amount received. For example, Fidelity Bank has a first mortgage balance of $100,000 on Mr. X's ...
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Predetermined price for a contract that will be the same irrespective of the actual costs incurred to complete it. This contract is advantageous to the buyer because he knows beforehand ...
Latin for by itself. A per se matter is one that is alone and not connected to another matter. For example, age, per se, is not a determinant of health. ...
Capitalization rate used to convert the expected income derived from a property into its estimated asset value. The estimated asset value may be computed by dividing the annual income ...
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