OPPORTUNISM Definition

Bookmark and Share

OPPORTUNISM is a condition of self-interest seeking with guile whereby one party has information that the other party does not.

Learn new Accounting Terms

TAXABLE BENEFITS are employer provided "non-cash" taxable compensation or fringe benefits, such as employer-provided vehicles, complementary tickets, and graduate level educational assistance, are subject to federal income, state income, social security, and Medicare tax rules. According to Internal Revenue Code Section 1.61-1, all compensation paid to, or on behalf of, an employee constitutes wages subject to income and employment tax withholding, unless specifically excluded by IRS code.

VALUE ADDED TAX is a consumption tax where taxes are levied at each step of a manufacturing process where value is added to that product at that point in the manufacturing cycle; as well as at the point where the consumer purchases the end product.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.