Ad valorem translated directly from Latin, means "according to [the] value [of something].” In practical use, the term is used in taxation to designate taxes levied against property, real or personal, at a certain rate based upon the property...
tax
ad valorem tax
Ad valorem is a Latin phrase that translates to “according to the value.”
The essential characteristic of ad valorem tax is that it is proportional to the value of the underlying asset, unlike a specific tax, where the tax...
Adoption Taxpayer Identification Number (ATIN)
An Adoption Taxpayer Identification Number (ATIN) is a unique nine-digit number issued by the Internal Revenue Service (IRS) as a temporary taxpayer identification number for a child in a domestic or foreign adoption process. Taxpayers must...
AGI
AGI is an acronym for adjusted gross income.
Adjusted Gross Income (AGI) is defined as the gross income earned by an individual minus several adjustments made to that income, such as trade and business deductions. Gross...
alternative minimum tax (AMT)
Alternative minimum tax (AMT) can be defined as a tax mechanism that calculates taxable income after certain deductions and tax preferences are made. The AMT is imposed in addition to the regular income tax for certain individuals, estates...
American Indian law
American Indian Law: An Overview
In U.S. law the term "Indians" refers generally to the indigenous peoples of the North American continent at the time of European colonization. "Alaska Natives" and "Native Hawaiians" refer to peoples who are...
AMT
AMT is the acronym for Alternative Minimum Tax. AMT’s refer to a tax mechanism that calculates taxable income after certain deductions and tax preferences are made. The AMT ensures that high-income individuals and entities pay a certain...
approach
Approach refers to moving toward the bench, a witness, or the jury box in court. An attorney may approach the bench in order to have a conversation with the judge and opposing counsel off the record and/or out of the jury's earshot. An...
bankruptcy
Overview:
Bankruptcy law provides for the reduction or elimination of certain debts, and can provide a timeline for the repayment of nondischargeable debts over time. It also permits individuals and organizations to repay secured debt....
basis
Under U.S. tax law, basis is the cost or value of an asset – used to determine equity or ownership for the purpose of tax assessment, exchange, or sale. It generally includes purchase price, taxes, transportation costs, and fees, and is...