What SALVAGE VALUE means: The estimated value that will be realized upon the sale or other disposition of an asset at the end of its useful life.
- Definition Section 1245:
- Dictionary personal property is sold, gain must be recaptured as ordinary income up to the amount of depreciation claimed. Section 1245 is the Internal Revenue Code section that requires this treatment. Also salvage value.
- Definition S Corporations:
- Dictionary business corporation that generally pays no tax. Instead, shareholders of an S corporation report their share of the corporation's income, gain, losses, and credits on their individual returns salvage value.
- Definition Simplified Employee Pension (SEP):
- Dictionary An arrangement under which an employer makes contributions to an employee's individual retirement account (IRA), or a self-employed person contributes to his own plan salvage value.
- Definition Social Security And Medicare Taxes Withheld:
- Dictionary The employee's share of these taxes that was withheld and submitted along with the employer's share to the IRS by the employer salvage value.
How works Salvage Value meaning in Tah definition S .