Budgeting
Short-term debt that is scheduled to be paid off within one year.
What is/are current liabilities?
If a homeowner's dwelling is completely destroyed, the insurance company will an amount equal to this.
What is the home's replacement value?
Along with married filing jointly, this filing status currently enjoys the highest standard deduction.
What is qualifying widow/er?
In this market type, investors may directly trade securities between themselves.
What is secondary?
All the property owned prior to death that may be subject to tax.
What is gross estate?
The result of total liabilities subtracted from total assets.
What is net worth?
Offered by the Federal Housing Administration, this type of insurance is often required by lenders when a full down payment cannot be made.
What is mortgage?
The tax rate paid on the next dollar of taxable income.
What is marginal?
A market maker that buys and sells securities separately on behalf of multiple clients, separately.
What is a dealer?
This informal memorandum communicates the decedent's thoughts and instructions to others.
What is a letter of last instruction?
This measure indicates one's ability to pay debts promptly.
What is debt service ratio?
The option to receive the cash value when a policy is terminated.
What is nonforfeiture?
These directly reduces a taxpayer's tax liability, dollar for dollar.
What are tax credits?
This phenomenon reminds us that investors detest market losses much more than they enjoy market gains.
What is the disposition effect?
This provision allows a beneficiary early access to trust property.
What is Crummey?
This process helps uncover errors in check or deposit recording, avoid overdrafts, and even identify and prevent fraud.
What is account reconciliation?
This type of health insurance plan has no deductible.
What is managed care?
Unlike most W2 taxpayers, self-employed or 1099 persons must file these quarterly.
What are estimated tax payments?
Changes in your portfolio's market value could render it inconsistent and necessitate this action.
What is rebalancing?
This process ultimately occurs to a decedent's property in the event they die intestate with no known or reachable kin.
What is escheat?
A summary that shows actual income and expenses and identifies budget variance.
What is a budget control schedule?
Insurance policyholders have the right to reimbursement from the person who caused the loss or the insurance company, but not both. This right is called...
A technique whereby a high-earning taxpayer assigns assets to a relative in a lower tax bracket.
What is income shifting?
A bond that may be exchanged, prior to maturity, for shares of the company's common stock?
What is convertible?
When a married couple wishes to maximize their respective annual exclusions for the same recipient in the same tax year, they must do this.
What is gift-split?