ACQUISITION DEBT
A financial obligation obtained through the improvement, construction, or purchase of a secondary or primary residence. One of the examples for acquisition debt is home mortgage. The Internal Revenue Services (IRS) gives certain tax advantages for those who have home acquisition debt. The taxpayers can subtract the interest paid throughout the tax years for mortgages which qualifies as a home acquisition debt. The IRS acknowledge home acquisition debt as any mortgage acquired after October 13,1987 that was used to build, buy or significantly improve a primary or secondary home. The home also secures the mortgage.
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Sell To Open
Sell To Open is a phrased used in options. It is when a short position opens in an option transaction which means that the investor is starting or ...
Own-Occupation Policy
A policy that covers people who become disabled and are unable to perform majority of occupational duties that they have been trained to perform.
Other Post-Retirement Benefits
These are benefits given to employees during their retirement years, other than pension distributions. Most benefits include medical plans and life ...
LIFO Reserve
Difference between the First In, First Out (FIFO) inventory and Last In, First Out (LIFO) inventory in accounting. The figures signify the amount o ...
Per Diem Interest
It refers to the interest charge on a loan for one or more days. This doesn’t necessarily mean that the interest compounds daily, it simply r ...
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