Mercantilism was an economic system of trade that spanned from the 16th century to the 18th century. Mercantilism is based on the principle that the world’s wealth was static, and consequently, many European nations attempted to accumulate the largest possible share of that wealth by maximizing their exports and by limiting their imports via tariffs.
Voluntary compliance refers to the principle that taxpayers will cooperate with the tax system by filing honest and accurate annual returns. The U.S. income tax system operates under this assumption. Voluntary means that each taxpayer is expected to prepare and file returns without government involvement.1
Vintage is a slang term used by mortgage-backed security (MBS) traders and investors to refer to an MBS that is seasoned over some time period. An MBS typically has a maturity of around 30 years, and a particular issue’s vintage exposes the holder to less prepayment and default risk, although this decreased risk also limits price appreciation.
Mercantilism was an economic system of trade that spanned from the 16th century to the 18th century. Mercantilism is based on the principle that the world’s wealth was static, and consequently, many European nations attempted to accumulate the largest possible share of that wealth by maximizing their exports and by limiting their imports via tariffs.
Voluntary compliance refers to the principle that taxpayers will cooperate with the tax system by filing honest and accurate annual returns. The U.S. income tax system operates under this assumption. Voluntary means that each taxpayer is expected to prepare and file returns without government involvement.1
“Landlocked” in the context of real estate refers to a piece of property that is inaccessible via public thoroughfare, except through an adjacent lot. A vacant lot that is located behind a strip mall and can only be reached by walking through the mall qualifies as this type of lot. Landlocked property is locked up all around by other property.
Bonus depreciation is a tax incentive that allows a business to immediately deduct a large percentage of the purchase price of eligible assets, such as machinery, rather than write them off over the useful life of that asset. Bonus depreciation is also known as the additional first year depreciation deduction.
Travel expenses are costs associated with traveling for the purpose of conducting business-related activities. Travel expenses can generally be deducted by employees as non-reimbursed costs incurred while traveling away from home specifically for business purposes. Those business purposes can include conferences or meetings.
Incremental cash flow is the additional operating cash flow that an organization receives from taking on a new project. A positive incremental cash flow means that the company’s cash flow will increase with the acceptance of the project. A positive incremental cash flow is a good indication that an organization should invest in a project.
A waiver of demand is a legal agreement given by a party who has endorsed a check or a bank draft. It states that, should the original issuer of the check or draft default, the endorser will take responsibility for honoring that check or draft on the issuer’s behalf.