Ludella Lewis & Company

12/22/2014

Definition of industry: The manufacturing or technically productive enterprises in a particular field, country, region, or economy viewed collectively, or one of these individually. A single industry is often named after its...

12/19/2014

What is a strategy?

Definition of strategy: A method or plan chosen to bring about a desired future, such as achievement of a goal or solution to a problem.

12/18/2014

What is depreciation?

Definition of depreciation: Accounting: The gradual conversion of the cost of a tangible capital asset or fixed asset into an operational expense (called depreciation expense) over the asset's estimated useful life. The objecti...

12/17/2014

Definition of patronage: Power to confer favors, give support and protection, or to appoint to office or position. Providers of patronage (patrons) and receivers (clients) form a network through which access to various resour...

12/17/2014

Definition of principal: Law: (1) A party who designates another (the agent) to act on his or her behalf. (2) A party that has the primary responsibility in a liability or obligation, as opposed to an endorser, guarantor, or ...

12/17/2014

Definition of due process: Conduct of legal proceedings strictly according to established principles and procedures, laid down to ensure fair trial for every accused. Because the infallibility of court judgments cannot be guara...

12/17/2014

The Senate approved legislation Tuesday that retroactively extends a number of expired tax provisions for one year,

The Senate approved legislation Tuesday that retroactively extends a number of expired tax provisions for one year, through 2014. Included in the extended provisions are the research-and-development credit, bonus depreciation and higher limits under Section 179. The bill goes to the president for hi…

12/13/2014

Definition of premium: General: Excess over apparent worth.

12/12/2014

Definition of trademark (™): Distinctive design, graphics, logo, symbols, words, or any combination thereof that uniquely identifies a firm and/or its goods or services, guarantees the item's genuineness, and gives it owner the l...

12/11/2014

The Internal Revenue Service on Wednesday issued the standard mileage rates for business use of an automobile, and for driving for medical or moving purposes, for 2015. The business use rate will go up from the 2014 rates, while the medical and moving rate is going down.

12/10/2014

What is a caveat?

Definition of caveat: Formal notice or warning, usually as an entry into a court register, given by a concerned party to a court or judge to prevent some action (such as granting of a probate) being taken without prior not...

12/10/2014

Republican and Democratic leaders in Congress have reached agreement on a $1.01 trillion spending bill that would end the threat of a U.S. government shutdown. A stopgap measure to continue funding for a brief period will be introduced to give the House and the Senate time to pass the larger measure…