What Is Pfandbriefe? Pfandbriefe are a type of covered bonds issued by German mortgage banks that is collateralized by long-term assets. These types of bonds represent the largest segment of the German private debt market and are considered to be the safest debt instruments in the private market. The singular term is ‘pfandbrief.’ Understanding Pfandbriefe
What Is a Passive Foreign Investment Company (PFIC)? A passive foreign investment company (PFIC) is a corporation, located abroad, which exhibits either one of two conditions, based on either income or assets: At least 75% of the corporation’s gross income is “passive”—that is, derived from investments or other sources not related to regular business operations.
What Is a Phantom Gain? A phantom gain is a situation in which0 an investor owes capital gains taxes even though the investor’s overall investment portfolio may have declined in value. Understanding Phantom Gain The most common scenario for an investor to be hit with a phantom gain is when investing in a mutual fund.
What Is Phantom Income? Phantom income is typically an investment gain that has not yet been realized through a cash sale or a distribution. However, it still creates a tax liability for a partnership or an individual. Phantom income is also sometimes referred to as “phantom revenue.” While phantom income is not necessarily a common
What Is a Phantom Stock Plan? A phantom stock plan is an employee benefit plan that gives selected employees (senior management) many of the benefits of stock ownership without actually giving them any company stock. This type of plan is sometimes referred to as shadow stock. Rather than getting physical stock, the employee receives mock
What Is Phased Retirement? A phased retirement includes a broad range of employment arrangements that allow an employee who is approaching retirement age to continue working with a reduced workload, and eventually transition from full-time work to full-time retirement. Phased retirement may include a pre-retirement, gradual reduction in hours (or days) of work, then post-retirement
What Is a Phase Out? A phase out refers to the gradual reduction of a tax credit that a taxpayer is eligible for as their income approaches the upper limit to qualify for that credit. Typically, there is a specific income range that the U.S. Internal Revenue Service (IRS) uses to determines what taxpayers may be eligible
Retirement isn’t just one phase of life but multiple phases, especially with today’s increased life expectancy and retirements that often last for 20 years or more. Each phase has its own rewards, as well as financial and emotional challenges. Here is how some experts define the phases of retirement. Key Takeaways Retirement can last for
What Are Phi Ellipses? Phi ellipses are a Fibonacci trading tool used to aid investors in identifying price patterns, trends, and potentially trend reversals. The phi ellipses resemble an oval, drawn around price waves, highlighting the price’s path. When the price moves outside the phi ellipses, a new price pattern or trend direction is starting.
What Is the Philadelphia Federal Index? The Philadelphia Federal Index (or Philly Fed Survey) is a regional federal-reserve-bank index measuring changes in business growth. It is also known as the “Manufacturing Business Outlook Survey.” Key Takeaways The Philadelphia Federal Index (or Philly Fed Index) is a regional federal-reserve-bank index measuring changes in business growth covering
