Accelerated depreciation is a method of depreciating assets faster than the standard useful-life method, resulting in higher depreciation expenses earlier in the asset's life. This method is particularly useful for assets that lose their value quickly due to rapid innovation or technological change.
Enterprise Management Incentives (EMIs) are a type of employee stock option scheme that provides tax advantages to both employees and employers in the United Kingdom.
An Individual Retirement Account (IRA) is a retirement savings account that provides tax advantages for retirement savings in the United States. It is designed to help individuals set aside funds for their retirement.
Life Assurance is an insurance policy that pays a specified amount of money on the death of the life assured or, in the case of an endowment assurance policy, on the death of the life assured or at the end of an agreed period, whichever is the earlier.
A Professional Association (P.A.) is a legal entity that allows professionals to practice within the framework of a designated organizational structure while benefiting from certain protections and tax advantages.
A retirement plan is a financial arrangement provided by an employer or a self-employed individual that aims to replace employment income upon retirement. Due to tax advantages, they generally allow for present deductions to employers and deferred income recognition for employees.
A Share Incentive Plan (SIP) is a tax-advantaged share scheme introduced by the British government to encourage employee ownership in participating companies. Under such a plan, a trustee acquires and holds shares for the benefit of employees, providing significant tax advantages under predetermined conditions.
Venture Capital Trusts (VCTs) offer a high-risk, high-reward investment avenue that provides risk capital for smaller unlisted trading companies, with the added advantage of certain tax benefits in the UK.
