Tax Terminology
Here at PSVS we are in the trenches every day helping you navigate your way through the various complexities of your accounting-related activities. It is easy to forget that not everyone knows all the accounting-specific terminology we use daily.
We have created this fairly comprehensive glossary to supplement your knowledge and understanding and hopefully answer some of your questions.
Of course, if you have any questions send us an email or give us a call: (650) 578-1200.
Option
A contract conveying the right to buy (call) or sell (put) specific securities, commodities, or stocks at a predetermined price
Ordinary Expense
An expense that is common and accepted in a field of trade, business, or profession.
Owner of Record
The person whose name is listed as owner in official documents.
