Glossary
There are currently 38 names in this directory beginning with the letter T.
Tangible Asset
Anything that has a value and physically exists, such as land, machines, equipment or currency.
Tax Deductions
The amount that a person or business can subtract from their taxable income. The more you can deduct, the less you pay.
Tax Liability
The total amount of tax that a person must pay. Taxpayers pay this through withholdings, estimated tax payments and payments attached to their yearly tax forms.
Tax Lien
A claim against property for unpaid taxes, which lasts until the claim is satisfied or a statute of limitations takes effect.
Tax Shelter
Investment to acquire something of value with the expectation it will produce income and reduce or defer taxes.
Tax Shift
One lucky person or group is able to shift a tax that they're supposed to pay to someone else.
Tax Withholdings
The portion that an employer takes from an employee's paycheck to pay part or all of the employee's taxes.
Tax-Exempt Bond
A bond issued by a municipal, county or state government with interest payments that are not taxed.
Tax-Sheltered Annuity
An annuity that allows employees of government and nonprofit organizations to make pretax contributions to a retirement plan up to a predefined annual limit.
Taxes
Taxes are required payments of money to the government. This money is used to make your life better. You might not even realize it, but tax money provides public goods and services for the community as a whole. Roads, schools, law enforcement and public libraries are just some of the many benefits of paying taxes. Show a little gratitude and pay your fair share.
Tenants by the Entirety
A form of property ownership used by married couples where each spouse theoretically owns 100% of the property. After the first spouse dies, complete ownership passes to the surviving spouse without tax and probate.
Tenants in Common
Two or more owners who have undivided, but not necessarily equal, ownership of a property.
Term Certain
A payout option in an annuity contract that provides income for a specified period of time.
Term Insurance
A type of life insurance that pays benefits only if the insured dies within a specific period. Term insurance has no cash value, and premiums usually rise with the insured's age.
Tips
Gratuity paid by a customer to an employee in appreciation of service. Employees who earn more than $20 a month in tips must report the amount to their employer.
Title
A document that identifies legal ownership of property, used to transfer ownership from a seller to a buyer.
Title Insurance
A type of insurance that protects against loss due to a defect in a real estate title, such as an ownership dispute or a lien against property.
Title Search
An inspection of city, town or county records to determine the legal owner of a piece of real estate property and to find any applicable liens, mortgages or future interests.
Total Disability
Inability to complete most job requirements based on a physical or mental disability.
Total Return
The gross annual yield on an investment, including capital appreciation or distributions, interest, dividends and personal taxes.
Transaction Fee
A charge for a credit-related activity, such as receiving a cash advance or using an ATM.
Treasuries
Negotiated debt obligations that the U.S. government regularly offers at public auction through the Federal Reserve Bank. Treasury bills, bonds and notes have varying maturities and yields.
Treasury Bill
A negotiable debt obligation issued by the U.S. government, also called a T-bill. Treasury bills mature in one year or less, are exempt from state and local taxes, and range in value from $10,000 to $1 million; they sell at a discount based on current interest rates.
Trial Balance
The listing and totaling of all balances in a ledger to verify that total debits equal total credits.
Triple Net Lease
A lease in which the lessee assumes payments for maintenance, taxes, utilities and insurance. The lessee bears the risks associated with these fluctuating expenses.
Trust
Fiduciary relationship under which property is held by one person, a trustee, for the benefit of another, the beneficiary.
Trust Fund
Money, property or valuables legally held by a person or company for the benefit of another.