Tax Accounting

Tax accounting consists of accounting methods that focus on taxes rather than the appearance of public financial statements. Tax accounting is governed by the Internal Revenue Code which dictates the specific rules that companies and individuals must follow when preparing their tax returns

Meaning of Ad Valorem

ad valorem

Ad valorem is derived from a ‘Latin’ word which means ‘according to value’. Ad valorem is a tax or a duty levied by the state, local or municipal government on the assessed value of the asset or property and not on the volume of the asset or property of the …

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What is Tax Shelter

Business Valuation

Tax Shelter A tax shelter is a strategy or financial arrangement to reduce the tax liability. The main feature of such strategies is that they are permitted by the law (Josephson, 2017). Normally, the way to avail tax shelter is in the form of investment. Main examples are home equity …

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