Money that was due to a decedent and will pass through to the recipient or estate as income during that tax year. The recipient (beneficiary) must declare the money as income in respect of a decedent (IRD) for any year in which income is received. The estate must also claim the income, but may claim a deduction in the amount of income tax due on the IRD. |||While it's more common to deal with assets in an inheritance, the decedent may have had a last paycheck or unpaid commissions in transit at the time of his or her death. These items will never be reported on the decedent's income taxes and will instead be double-taxed by the recipient and the decedent's estate.
A weekly economic figure published by the International Council of Shopping Centers and UBS Bank, that measures comparable store sales at major retail chains. The ICSC-UBS Store Sales measures the portion of retail sales attributed to general merchandise. |||Because consumer spending accounts for about two-thirds of GDP, patterns in consumer spending can have a major influence of investment pricing. The ICSC-UBS index is published weekly, so it is a useful indicator for viewing economic activity during major events and holidays.
The authoring language used in the creation of documents for the World Wide Web. |||If you want to see what HTML language looks like, then, in your browser, click on "view" then "view source." Those hundreds of tags and coding is what makes up HTML.
A unit of weight measurement created by U.S. merchants in the late 1800s. A hundred weight is equal to exactly 100 pounds. |||Usually, this measurement is used in futures contracts that require the weight of the underlying to be specified.
An interest rate stated in Hong Kong dollars on the lending and borrowing between banks in the Hong Kong interbank market. The terms of the deposits vary from overnight to one year. The U.K. version, the London Interbank Offer Rate (LIBOR), is similar to the HIBOR. More than anything else, the HIBOR is a reference rate for lenders and borrowers that participate directly or indirectly in the Asian economy. |||The interbank market is used by banks for transferring funds and currency and managing liquidity. If a bank is nearing the point at which withdrawals are depleting short-term cash reserves, that bank will go into the Hong Kong interbank market and borrow money at the HIBOR. For example, an interest rate swap involving two counterparties with good credit ratings, both of which have bonds issued in Hong Kong dollars, will likely be quoted in HIBOR plus a given percentage.
A line of credit extended to a homeowner that uses the borrower's home as collateral. once a maximum loan balance is established, the homeowner may draw on the line of credit at his or her discretion. Interest is charged on a predetermined variable rate, which is usually based on prevailing prime rates.once there is a balance owing on the loan, the homeowner can choose the repayment schedule as long as minimum interest payments are made monthly. The term of a HELOC can last anywhere from less than five to more than 20 years, at the end of which all balances must be paid in full. |||Several factors can lead to strong growth rates in this type of borrowing:-Increased retail sales channels, which have brought HELOCs to the masses. Most of these sales channels come from local banking institutions.-Rising home values, which increase the amount of equity available to homeowners -Prevailing low interest rates coupled with moderate inflation-The fact that mortgage interest is often tax-deductible, making it more attractive than alternative borrowing methodsBecause HELOC interest is variable, homeowners must be aware of prevailing interest rates -a spike can cause repayment balances to rise rapidly.
An economic indicator that is released monthly by the Federal Reserve Board. The indicator measures the amount of output from the manufacturing, mining, electric and gas industries. The reference year for the index is 2002 and a level of 100. |||Production data is often received directly from the Bureau of Labor Statistics and trade associations, both on physical output and inputs used in the production process. Each individual index is calculated using the Fischer index formula.Investors can use the IPI of various industries to examine the growth in the respective industry. If the IPI is growing month-over-month for a particular industry, this is a sign that the companies in the industry are performing well.
An investing tool used by individuals to earn and earmark funds for retirement savings. There are several types of IRAs: Traditional IRAs, Roth IRAs, SIMPLE IRAs and SEP IRAs. Traditional and Roth IRAs are established by individual taxpayers, who are allowed to contribute 100% of compensation (self-employment income for sole proprietors and partners) up to a set maximum dollar amount. Contributions to the Traditional IRA may be tax deductible depending on the taxpayer's income, tax filing status and coverage by an employer-sponsored retirement plan. Roth IRA contributions are not tax-deductible. SEPs and SIMPLEs are retirement plans established by employers. Individual participant contributions are made to SEP IRAs and SIMPLE IRAs. Also referred to as "individual retirement arrangements." |||With the exception of Roth IRAs, where eligible distributions are tax-free, eventual withdrawal from an IRA is taxed as income; including the capital gains. Because income is likely to be lower after retirement, the tax rate may be lower. Combined with potential tax savings at the time of contribution, IRAs can prove to be very valuable tax management tools for individuals. Also, depending on income, an individual may be able to fit into a lower tax bracket with tax-deductible contributions during his or her working years while still enjoying a low tax bracket during retirement.
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