Pick-Up Tax Definition

Pick-Up Tax Definition

What Is the Pick-Up Tax? The pick-up tax was an estate tax levied by individual states, allowing them to share in the proceeds and revenue from federal estate taxes. Although states were able to claim a portion of an individual’s federal estate transfer tax, the pick-up tax did not increase the estate’s tax liability.  The

Piecemeal Opinion Definition

Piecemeal Opinion Definition

What Is a Piecemeal Opinion? A piecemeal opinion is a report issued by an outside auditor expressing a view limited to only specific line items within a company’s financial statements.  Auditors provide a piecemeal opinion in a situation where complete information is not available. Accounting standards such as generally accepted accounting principles (GAAP) generally no longer permit the

What Is Non-public Finance, and Why Is It Crucial?

What Is Non-public Finance, and Why Is It Crucial?

What Is Personal Finance? Personal finance is a term that covers managing your money as well as saving and investing. It encompasses budgeting, banking, insurance, mortgages, investments, and retirement, tax, and estate planning. The term often refers to the entire industry that provides financial services to individuals and households and advises them about financial and

What It Is, How It’s Used

What It Is, How It’s Used

What Is a Personal Identification Number (PIN)? A personal identification number (PIN) is a numerical code used in many electronic financial transactions. Personal identification numbers are usually issued in association with payment cards and may be required to complete a transaction. The purpose of a personal identification number (PIN) is to add additional security to

What it is, How it Works

What it is, How it Works

Personal injury protection (PIP), which is also called “no-fault insurance,” covers medical bills and related costs resulting from an accident, no matter who caused it. What Is Personal Injury Protection (PIP)? Personal injury protection (PIP), also known as “no-fault insurance,” is a component of an automobile insurance plan that covers the healthcare expenses associated with