The amount of income earned from a foreign source that is excludable from domestic taxation. The foreign earned income exclusion can only be claimed by those who meet the foreign residence or physical presence tests, who have a tax home in a foreign country, and have foreign income.Tax payers wishing to exclude foreign earned income must make an election to do so. During the 2007 tax year, the maximum foreign earned income exclusion was $85,700. If the election is made, the taxpayer must proactively elect to use this exclusion (on an moving-forward basis); this exclusion is not assigned automatically. The exclusion is elected on Form 2555. Furthermore, taxpayers who claim this exclusion cannot deduct any business expenses incurred relative to the foreign income, make domestic retirement plan contributions of any kind that are based on this income or claim the foreign tax credit or deduction for any taxes paid to a foreign government on this income.
A self-help alert is a notification issued by a trading exchange, such as the NYSE or Nasdaq, that a glitch has occurred on one of the exchanges and that exchange, therefore, should be temporarily bypassed to permit the regular flow of orders. A self-help order, for example, could be issued by the Nasdaq if the NYSE had experienced a problem and needed to halt trading on any or all of its stocks. The alert would be canceled when the NYSE resolved its problems.
A profitability measure that looks at a company's profits before the company has to pay corporate income tax. This measure deducts all expenses from revenue including interest expenses and operating expenses, but it leaves out the payment of tax. Also referred to as "earnings before tax ". |||This measure combines all of the company's profits before tax, including operating, non-operating, continuing operations and non-continuing operations. PBT exists because tax expense is constantly changing and taking it out helps to give an investor a good idea of changes in a company's profits or earnings from year to year.
A system that taxes everyone at the same rate, regardless of their income bracket. Supporters of a flat tax argue that it gives people incentive to earn more, because they wouldn't be penalized by graduating to a higher tax bracket (as they would in a progressive-rate system).
An investment strategy in which investors mimic the trades of well-known and historically successful investors. Taobiz explains Coattail Investing This copycat investing can be very good - why not follow the best? This investing strategy works the best when the money manager or institution being mimicked buys companies with a buy-and-hold mentality. If the manager is buying the company for a short period of time, the delay between the purchase and the release of the information to the public may render the particular purchase a bad one. However, many money managers buy companies with a buy-and-hold mindset.
A financial statement that summarizes the revenues, costs and expenses incurred during a specific period of time - usually a fiscal quarter or year. These records provide information that shows the ability of a company to generate profit by increasing revenue and reducing costs. The P&L statement is also known as a "statement of profit and loss", an "income statement" or an "income and expense statement". |||The statement of profit and loss follows a general form as seen in this example. It begins with an entry for revenue and subtracts from revenue the costs of running the business, including cost of goods sold, operating expenses, tax expense and interest expense. The bottom line (literally and figuratively) is net income (profit). Many templates can be found online for free, that can be used in creating your profit and loss, or income statement.The balance sheet, income statement and statement of cash flows are the most important financial statements produced by a company. While each is important in its own right, they are meant to be analyzed together.
A pooled group of financial assets that together create a new security, which is then marketed and sold to investors. The value and cash flows of the new security are based off of the underlying value and cash flows of the assets used in the securitization process. Companies will securitize illiquid assets into liquid assets in order to increase their overall liquidity and generate immediate proceeds from their assets. A company (the originator) begins the securitization process by gathering a series of financial assets, such as accounts receivables (AR). These assets are then sold or transferred to an issuer, or special purpose vehicle (SPV), which is used to manage the assets and legally protect the company from the assets' obligations. The SPV will then sell the securities, which are backed by the assets held in the SPV, to investors. The cash flows generated by the underlying assets are then transferred to the investors who purchased the asset-backed securities (ABS). The originator will have received some proceeds from the securitization, which can be used for its ongoing operations or other business uses. During the securitization process, the SPV will often get a rating agency to assign the assets a rating based on the ability of the assets to meet the principal and interest payments on the new securities being sold by the SPV. The SPV may also use credit enhancements to lower the risks of the securities being sold off to make them more attractive to investors.
An IRS tax form used by taxpayers to request relief from a tax liability involving a spouse or former spouse. Couples filing a joint tax return both become responsible for the tax obligation, called joint and several liability. If additional tax has to be paid because of income, deductions or credits from one spouse (or former spouse), the other partner will still be liable. The taxpayer seeking relief should file Form 8857 as soon as he or she becomes aware of a tax obligation that the other spouse (or former spouse) should be solely responsible for. Getting a divorce doesn't stop the IRS from considering both parties still joint and severally liable for a tax obligation, even if a divorce decree states that only one party is responsible for the tax. A spouse or former spouse has two years to file Form 8857 from when the IRS first starts trying to collect for the obligation.
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