A federal tax law designed to encourage self-employed business people to set aside money for retirement by giving a substantial tax advantage; similar to an IRA, but for a small self-employed business owner and others who do not have a company pension plan.
KEY MAN INSURANCE
Insurance purchased by a company that financially protects the business from the death or disability of a most valuable owner or high level employee. In accounting, the cash surrender value of such insurance is shown as an asset. See CASH SURRENDER VALUE.
The people in a business whose performance is vital to success; those who control business operations.
A deal sweetener; an amount added to a deal to induce the potential buyer or lender to consummate the deal.
Keep It Simple Stupid; an acronym used to suggest the elimination of unnecessary work and complications.
An unlawful procedure whereby a check is written on an account that does not have enough money to pay the check. Most often, the intent is unlawful reliance on a long float period that allows time for money to be deposited to cover the check.
All definitions were taken from www.small-business-dictionary.org.