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 Patent:
- Dictionary of an inventor to make, use, or sell his invention for a period of years. A patent is an intangible asset that may be depreciated over its remaining life. The sale of a patent usually results in prepaid expenses definition.
- Definition Personal Expenses:
- Dictionary individual other than those for business or investment purposes. Personal expenses are not deductible unless specifically allowed under the tax law. Two examples of deductible personal expenses are prepaid expenses explain.
- Definition Personal-Use Property:
- Dictionary Property that is not used for business or investment purposes prepaid expenses what is.
- Definition Portfolio Income:
- Dictionary Portfolio income is not passive income for the passive loss rules. Portfolio income includes dividends, interest, capital gains from property that produces portfolio income, and royalties prepaid expenses meaning.
How works Prepaid Expenses meaning in Tax definitions P .
