The Longtime Homebuyer Tax Credit was a federal income tax credit available to homebuyers who had owned and lived in the same principal residence for five of the last eight years before the purchase of their next home. In order to qualify for the credit, most homebuyers would have had to sign a binding sales contract for the home before April 30, 2010 and close on the purchase before June 30, 2010. Watch: Tax Deduction Vs. Tax Credit The homebuyer tax credits were designed to bring new buyers to the housing market and increase demand in order to stabilize falling housing prices. By most accounts, the credits were successful in increasing home sales and median prices. Critics of the tax credit believe that this subsidy artificially inflates home prices and that it acts as only a temporary support for falling prices.
Slang for large institutions that have the funds to make high volumes trades. Due to the large volumes of stock that elephants deal in, any investment decisions that they make will have a large influence on the price of the underlying financial asset. Taobiz explains Elephants Think of a swimming pool: if an elephant steps into the pool (buys into a position), the water level (stock price) increases; if the elephant gets out of the pool (sells a position), the water level (stock price) decreases. In comparison to the elephant's influence on stock prices, the effect of an individual investor is more like that of a mouse. Examples of elephants are professionally managed entities like mutual funds, pension plans, banks and insurance companies. Contrarian investors specialize in doing the opposite of the elephants, that is, buying when institutions are selling, and selling when institutions are buying.
A way of quoting options prices through a list of all of the options for a given security. For each underlying security, the option chain tells investors the various strike prices, expiration dates, and whether they are calls or puts.
Costs for an overnight stay, usually in a hotel, that may be taken as a federal income tax deduction if the Internal Revenue Service's criteria are met. Lodging expenses are usually a business expense that is incurred when someone must travel away from their tax home to do business. The IRS does not set a standard amount that can be deducted for lodging expenses, however several criteria must be met for the expense to be tax deductible. The IRS also allows individuals to deduct lodging expenses from their income when the lodging expenses are incurred as a moving expense. The IRS says the expenses must be reasonable for the circumstances of the move. Any lodging expenses that are not on the shortest route from the taxpayer's old home to his new home, for example, because he decided to take a detour for sightseeing, would not be tax deductible because these are not really moving expenses.
An additional tax on top of federal and state taxes, usually collected in the form of property taxes. Also called "municipal tax". This covers everything from garbage pickup to cutting the grass at your local park.
A slang term used to describe when one trader undercuts or outbids another's ask or bid by one-eighth of a dollar. This term carries a derogatory connotation, as it implies an attempt to steal a trade by a small change in price. Taobiz explains Eighthed The term is no longer used in the equity markets, as stocks are no longer quoted to an eighth of a dollar. A trader may use the term in the context of "being eighthed" or claiming that someone topped or cut them "by an eighth."
The process of granting an option that is dated prior to the date that the company granted that option. In this way, the exercise price of the granted option can be set at a lower price than that of the company's stock at the granting date. This process makes the granted option in-the-money and of value to the holder. This process occurred when companies were only required to report the issuance of stock options to the SEC within two months of the grant date. Companies would simply wait for a period in which the company's stock price fell to a low and then moved higher within a two-month period. The company would then grant the option but date it at or near its lowest point. This is the granted option that would be reported to the SEC.The act of options backdating has become much more difficult as companies are now required to report the granting of options to the SEC within two business days. This adjustment to the filing window came in with the Sarbanes-Oxley legislation.
A line created from the risk-reward graph, comprised of optimal portfolios. Taobiz explains Efficient Frontier The optimal portfolios plotted along the curve have the highest expected return possible for the given amount of risk.
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