- tax-deferred savings
- Tax-free savings that can be put in an individual retirement account (IRA) or other retirement plan. Taxes are not imposed on the interest or principal until funds are withdrawn at age 59½ or later.
- tax-exempt bond
- A municipal bond that is free of all taxes.
- tax-free rollover
- The automatic renewal of a certificate of deposit (CD), tax-free at present rates of interest. Also, the automatic tax-free reinvestment of money market funds.
- taxable estate
- The part of an estate that is subject to taxes. The taxable estate is what is left after all debts, funeral expenses, and taxes are paid.
- taxpayer identification number (TIN)
- For taxation purposes, the number that identifies corporations, nonprofits, associations, and partnerships to the IRS. Individuals are usually identified by their social security numbers.
- tenancy at will
- A lease that the landlord or tenant can terminate whenever he or she so desires.
- tenancy by the entirety
- An estate held by a wife and husband that cannot be terminated without both people’s consent.
- tenancy in common
- An estate held by two or more people. If a partner in the estate dies, his or her share of the estate goes to the heirs.
- term
- The time it takes for a loan or deposit to mature. The term is usually expressed in months.
- testator
- A person who dies leaving a will.
- time-value of money
- A general rule that says a dollar today is worth more than a dollar a year from today because if you have a dollar today you can invest it and earn interest over the next year.
- treasurer
- A financial officer of a corporation whose job is, among other duties, to manage cash payments and deposits, procure and budget funds, handle the payroll, and discharge tax liabilities.
- Treasury Bill
- A short-term bill issued by the U.S. government to cover its debt. Treasury Bills are in $10,000 denominations. They mature in periods of 13, 26, or 52 weeks.
- Treasury bond
- A long-term bond issued by the U.S. government to cover its debts. Treasury bonds are sold in denominations of $10,000 or more.
- treasury stock
- A stock that has been repurchased by the issuer.
- trust
- Property held by one person or persons for the benefits of others.
- trustee
- The person who administers a trust.
- trustor
- The person who establishes a trust.
- unearned income
- Income earned from investments and interest.
- venture capital
- Capital available for new enterprises and startup companies.
- voluntary trust
- A living trust in which the beneficiary has title and possession of a property, but the legal title stays in the hands of the one who set up the trust.