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Virtual teams are increasingly necessary because:
Impute Interest
The process of assigning an implied interest rate to an interest-free or below-market interest loan, which then becomes taxable under the Internal Revenue Code.
Deferred Payment
An arrangement that allows payment to be made at a later date, often used in installment purchases or loans.
Group-Term Life Insurance
A type of life insurance where coverage is provided to a group of people by an employer or association, often at a lower cost than individual policies.
Taxable
Refers to income or transactions that are subject to tax by federal, state, or local taxing authorities.
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