What PREPAID EXPENSES means: Prepaid expenses are expenses that are paid in advance. Cash-basis as well as accrual-basis taxpayers usually are required to capitalize prepayments for rent, insurance, etc. that cover more than one year. Deductions are taken for the period during which the benefits are received.
- Definition Personal Property Tax:
- Dictionary An annual tax imposed on certain personal property, such as cars or boats, and based on the value of the property prepaid expenses definition.
- Definition Partnership:
- Dictionary in which two or more persons join their money and skills in conducting the business. Partnerships must file a return but are not subject to tax. Each partner reports his or her share of the prepaid expenses explain.
- Definition Pension:
- Dictionary periodically of (generally) a definite amount for a specified period (usually life) from an employer-funded plan to workers who have met the stated requirements. Its primary purpose is to provide prepaid expenses what is.
- Definition Personal Property:
- Dictionary Generally, all property other than real estate prepaid expenses meaning.
How works Prepaid Expenses meaning in Tax definitions P .
