MATERIAL PARTICIPATION TEST
A criteria that determines if a taxpayer is a material participant in a business venture. This test will tell whether the income received by a taxpayer is active or passive. Also, if the individual does partake in business’ activities regularly and continuously, then he or she materially participates in the business. It has seven tests but at least one test has be passed in order to consider a taxpayer as a material participant in the business activity.
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Dynasty Trust
Long-term trusts made to pass wealth from one generation to another without paying transfer taxes including estate and gift taxes. The trust can su ...
C&I
Loan made to a business or company, not to an individual, which provides either working capital or finances key capital expenditures. Usually short ...
Hypermarket
Hypermarket is a combination of a department store and a grocery supermarket. A hypermarket offers various products like clothing, groceries, and a ...
Assets Under Management
The asset's market value which an investment company handles on behalf of investors. Assets Under Management (AUM) is perceived as a scale of s ...
Business Income Coverage Form
Insurance policy which covers a loss of income a firm incurs due to a slowdown or temporary suspension of its operations because if damage to its p ...
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