capital assets


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capital assets

n. equipment, property, and funds owned by a business. (See: capital, capital account)

References in periodicals archive ?
By definition, only the former qualify as capital assets.
108 TC 507 (1997), the IRS was unsuccessful in its assertion that the residences involved in the home purchase program were capital assets in the employer's hands, causing ordinary deductions for the related expenses to be unavailable.
The GASB says that the guidance includes several disclosure requirements that will help financial statement users understand the nature and impact of impairment of capital assets.
This Statement establishes accounting and financial reporting standards for impairment of capital assets.
15, 2004, the statement requires governments to assess major events--including physical damage, changes in legal or environmental factors and technological changes or obsolescence--affecting capital assets to determine whether they are impaired.
Whether the property remains a capital asset at the time of ultimate sale is an issue that is decided under the general principles distinguishing dealer from non-dealer property.
The first is the growing knowledge and capital asset disparities within the social structure of the United States, even as the economy has entered into its longest period of expansion in history.
Monti said, adding that Parson Brinkerhoff has greatly expanded its existing capabilities by developing software for hand-held computers to assist in conducting accurate condition assessment surveys and financial software for the management of capital assets.
VFA's software suite is part of its award-winning, technology-based Capital Planning and Management Solution (CPMS[TM]) that integrates facility assessments, software products and business consulting services to aid organizations in strategically managing every stage of the capital asset lifecycleCofrom requirements gathering and long-term planning to capital budget creation and spend management.
Cash contributions to exempt public charities and private operating foundations axe generally limited to 50% of AGI; contributions of capital assets are limited to 30% of AGI.
For capital assets expected to remain in service, the impairment loss must be recognized using one of four different methods set forth in GASB Statement No.
If a taxpayer has significant capital assets and is planning to hold them for more than five years, he or she ultimately may pay lower taxes by converting the 20% assets into 18% assets.

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