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Taxes

Non-recourse debt

A non-recourse debt is a type of financing where the borrower is not personally liable for the repayment of the debt. This means that the lender can only use the pledged collateral to satisfy the debt, and cannot go after the borrower's other assets. This type of debt is commonly used in real estate financing, where the property acts as collateral for the loan. It is important to understand the implications of non-recourse debt before entering into any financial agreements.

Base cost

"Good morning class, today we will be discussing an important concept in finance known as 'cost basis'. This term is used in capital gains tax legislation to refer to the or...

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Credit, foreign tax

Double taxation is a common concern for businesses operating in multiple countries. To alleviate this issue, there is a method known as the foreign tax credit. Essentially, ...

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Corresponding adjustment

When a tax administration makes a primary adjustment in one tax jurisdiction, the tax liability of the associated enterprise may also be adjusted in a second jurisdiction. T...

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Cash basis (cash method)

In the world of finance, there exists a method of accounting known as cash basis. This method involves recognizing income and deductions at the time when money is received o...

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