Explain Workforce Diversity

question 198

Essay

Explain workforce diversity.

---

Definitions:

Installment Method

The installment method is a tax provision allowing taxpayers to spread out income recognition over several years when reporting sales or transfers of property, helping to manage tax liability.

Depreciation Recapture

A tax provision where depreciation taken on an asset is taxed as ordinary income when the asset is sold.

Adjusted Basis

The original cost of an asset, adjusted for factors like improvements or depreciation, used to calculate capital gains or losses for tax purposes.

Recognized Gain

The income gained through the disposal of an asset, which is required to be declared for taxation reasons.