What Is the American Land Title Association (ALTA)? The American Land Title Association (ALTA) is a trade association representing the title insurance industry. Founded in 1907, the ALTA also focuses on a property’s abstract of title, which ties the history of the title to a particular piece of real estate. The organization seeks to improve
What Is the American Opportunity Tax Credit (AOTC)? The American Opportunity Tax Credit (AOTC) is a tax credit for qualified education expenses associated with the first four years of a student’s postsecondary education. The maximum annual credit is $2,500 per eligible student. The student, someone claiming the student as a dependent, or a spouse making
What Is an American Option? An American option, aka an American-style option, is a version of an options contract that allows holders to exercise the option rights at any time before and including the day of expiration. It contrasts with another type of option, called the European option, that only allows execution on the day
What is the American Petroleum Institute? The American Petroleum Institute (API) is a trade association representing the oil and gas industry. It is focused on influencing public policy and lobbying Congress, the executive branch of government, state governments and media. It negotiates with regulatory agencies and represents the industry in legal proceedings. API has more
What Is the American Recovery and Reinvestment Act (ARRA)? The American Recovery and Reinvestment Act of 2009 (ARRA) was a piece of fiscal stimulus legislation passed by the U.S. Congress in response to the Great Recession of 2008. It is more commonly known as the “stimulus package of 2009” or simply the “Obama stimulus.” The
What Is the Americans With Disabilities Act Amendments Act of 2008 (ADAAA)? The Americans with Disabilities Act Amendments Act of 2008 (ADAAA) was legislation passed in September 2008 and effective January 1, 2009, that expanded the population that is considered disabled under the Americans with Disabilities Act (ADA). The ADAAA made significant changes to the
What is the American Taxpayer Relief Act Of 2012 The American Taxpayer Relief Act of 2012 is a bill signed into law by President Barack Obama on Jan. 2, 2013. The act made many tax cuts introduced between 2001 and 2010 permanent and extended several other forms of tax relief for up to five years.
What Is the American Stock Exchange (AMEX)? The American Stock Exchange (AMEX) was once the third-largest stock exchange in the United States, as measured by trading volume. The exchange, at its height, handled about 10% of all securities traded in the U.S. Today, the AMEX is known as the NYSE American. In 2008, NYSE Euronext acquired
What Is Anti Money Laundering (AML)? Anti money laundering (AML) refers to the web of laws, regulations, and procedures aimed at uncovering efforts to disguise illicit funds as legitimate income. Money laundering seeks to conceal crimes ranging from small-time tax evasion and drug trafficking to public corruption and the financing of groups designated as terrorist
 Period Beginning Loan Balance Payment Interest Principal Ending Loan Balance Month or period Amount of debt owed at the start of the month of period Amount due each month (often a fixed amount over the term of the loan) Amount of interest included in the payment (loan balance * 1/12 of interest) Amount of principal
