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Jack and Carol Have Two Adult Children

question 27

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Jack and Carol have two adult children.One is happily married and living in a city that is two hours away,and the other child is just starting university.Jack and Carol are planning a trip to Italy to visit some friends now that their children are settled.What is the name that is commonly given to a household when both children have left and the older parents are at home by themselves?


Definitions:

Foregone CCA

The term "Foregone CCA" does not exist in widely recognized financial lexicons and might be incorrectly stated or highly specific to a niche sector.

Tax Shield

The reduction in income taxes that results from taking allowable deductions from taxable income, such as interest on debt.

Fully Taxable Recapture

The process whereby the IRS fully taxes the depreciation or deductions previously taken on an asset, typically when the asset is sold for a gain.

Bargain Price

A price that is significantly lower than the perceived value of an item or investment.

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