Deferred compensation is a type of employee compensation like a pension plan where the employee receives part of their compensation at retirement, often in order to avoid taxes. Other compensation plans would incur taxes as the employee...
taxation
deficiency
Deficiency as a term that usually refers to any debt remaining after a creditor sells assets securing a loan. For example, if a bank foreclosed on a house for $500,000 but the debt owed is $550,000, the deficiency would be $50,000. Deficiency...
deficit
Deficit broadly refers to a person or entity having more expenses than revenue. Typically deficit is used to refer to finances of a company or government where the entity is spending more money than it makes, having to borrow money to cover...
delayed exchange
Delayed exchange is a type 1031 exchange where the property exchange takes place through an intermediary. Unlike a basic 1031 where one property is swapped for another, a property owner will give the property to an intermediary to sell, and...
dependent
Dependent has multiple legal meanings. Generally, “dependent” refers to an individual who relies on support from another individual and usually cannot exist or sustain themselves independently without the aid or support of someone else....
dependent care plan
Dependent Care Assistance Plan (DCAP) (better known as a dependent care flexible spending account (DPFSA)) is a type of flexible savings account (FSA) that can be used by individuals with dependents to reduce taxable income. A person with...
depreciable asset
Depreciable asset is generally an asset used for generating income or profit and has a useful life of more than a year and gradually reduces in value over time. It is a type of physical asset that is capable of depreciation treatment under...
disallowance
Disallowance means a denial. Some common uses of the term “disallowance” in a legal sense include:
In the context of taxes, disallowance is a finding by the IRS after an audit that a business or individual taxpayer was not entitled to...disincentive
A disincentive is a something that persuades parties not to engage in certain conduct. Laws often create intentional and unintentional disincentives through criminal penalties, civil liability, and tax provisions.
For...
disincentivize
To disincentivize refers to the act of creating a disincentive or withdrawing a previously existing incentive. Law making bodies disincentivize certain conduct to discourage parties from partaking in that conduct.
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