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Definitions (155)

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accelerated death benefit


Accelerated Death Benefit Rider (ADB) — A benefit that can be attached to a life insurance policy that enables the policy holder to receive cash advances against the death benefit in the case of being diagnosed with a terminal illness. Many individuals who choose the accelerated death benefit have less than one year to live and use the money for [..]
Source: bsmg.net

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accumulated earnings tax


A federal tax that may be imposed upon the undistributed earnings of corporations that are deemed to have retained and accumulated amounts in excess of those permitted by law to meet the reasonable needs of the business.
Source: bsmg.net

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acid test ratio


The ratio of quick current assets to current liabilities; used as an indicator of the business’s ability to meet short-term obligations as they come due.
Source: bsmg.net

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adjusted current earnings


Certain corporate earnings that are calculated for financial accounting purposes, but which are not included in regular federal income tax calculations. An example is the inside buildup and death proceeds of corporate-owned life insurance.
Source: bsmg.net

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affordable care act of 2010


Passed by the 111th congress and signed by President Barack Obama in March 2010, it includes a list of health related provisions. Read the whole act here.
Source: bsmg.net

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alternative minimum tax


Income that is subject to the alternative minimum tax.
Source: bsmg.net

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american taxpayer relief act of 2012


A United States bill signed by President Obama on January 2, 2013 which had many provisions affecting Americans’ income tax bills. Read the whole act here.
Source: bsmg.net

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amortization


The paying off of debt with a fixed schedule in regular installments over a specified period of time.
Source: bsmg.net

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annuitant


The person who receives the benefits of the pension or annuity.
Source: bsmg.net

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annuitization


The process where an annuity investment is converted into a series of periodic income payments.
Source: bsmg.net


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