Wealth Tax

Filed Under » , , , ,
Dictionary Says

Definition of 'Wealth Tax'

It is a tax based on the market value of assets that are owned. These assets include, but are not limited to, cash, bank deposits, shares, fixed assets, private cars, assessed value of real property, pension plans, money funds, owner occupied housing and trusts. An ad valorem tax on real estate and an intangible tax on financial assets are both examples of a wealth tax. Although many developed countries choose to tax wealth, the United States has generally favored taxing income.
Investopedia Says

Investopedia explains 'Wealth Tax'

Wealth tax is imposed on the wealth possessed by individuals in a country. The tax is on a person's net worth which is assets minus liabilities. Not all countries have this type of tax; Austria, Denmark, Germany, Sweden, Spain, Finland, Iceland and Luxenberg have abolished it in recent years. The United States doesn't impose wealth tax but requires income and property taxes.

Articles Of Interest

  1.

    Tax-Efficient Wealth Transfer

    Taxpayers with large taxable estates were required to take steps to reduce them before 2011.

  2. Avoiding A Big Tax Bill On Real Estate Gains

    Installment sales allow sellers to defer taxes on real estate profits.

  3. 3 Simple Steps To Building Wealth

    Getting richer is easier if you take it one step at a time.

  4. Sovereign Wealth Funds - Friend Or Foe?

    SWFs increase long-term demand for financial assets and give U.S. companies better access to capital.

  5. Making Sense Of The Tax Code

    If tax rules and regulations are Greek to you, read on to learn how to decipher them.

  6. The U.S. National Spending And Debt

    We are looking at what could be the official year of the Federal Budget, or, more specifically, our debt and how we will manage it for many years to come.

  7. Certifications For Estate Planning

    These certifications can lead to a promising career, but is estate planning for you?

  8. Canadians: Smart Ways To Use Your Tax Refund

    Taxes are an annoying annual chore akin to going to the dentist. Luckily, however, some of us get a nice tax refund after the process. It's important to use this refund wisely though, and Canadians ...

  9. Has Income Tax Become A Class Tax On The Poor?

    With more than 33% of American families falling close to the poverty line despite their adult members holding full-time employment, a rising number of citizens are being forced to pay a rate ...

  10. Possible Effects Of The Online Retail Tax

    The U.S. Senate has passed a bill that will impose a sales tax on online retailers. Discover how the Marketplace Fairness Act could affect your bottom line.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Zomma

    An options greek used to measure the change in gamma in relation to changes in the volatility of the underlying asset.

  2. Yield Elbow

    The point on the yield curve indicating the year in which the economy's highest interest rates occur. The yield elbow is the peak of the yield curve, signifying where the highest interest rates occurred.

  3. Xenocurrency

    A currency that trades in markets outside of its domestic borders.

  4. Wanton Disregard

    A standard of severe negligence. Wanton disregard is a very serious accusation that indicates that a person behaved extremely recklessly.

  5. Ultra ETF

    A class of exchange-traded funds (ETF) that employs leverage in an effort to achieve double the return of a set benchmark.

  6. Toehold Purchase

    A purchase of less than 5% of a target company's outstanding stockmade by an acquiring company. A toehold purchase of just under 5%, while not a significant stake in a firm, allows the shareholders a "toe-holds" grip on the company and its decision making.
Trading Center
http://sp.fastclick.net/ad/tr/10858-64082-15546-0?mpt=09d5de50c7c6884419c45f2ebfa3f4c7