For example, if your company spends $18,000 on the new vehicle, the company would be required to recognize $2,000 of âgain,â the difference between the insurance recovery and the cost of the replacement vehicle. That is a savings of $3,000 in taxable income.
Definition of RAREFACTION. 1. : the action or process of rarefying. 2. : the quality or state of being rarefied. 3. : a state or region of minimum pressure in a medium traversed by compressional waves (as sound waves). â rarÂ·eÂ·facÂ·tionÂ·al \-shnÉl, -shÉ-nÉl\ adjective. See rarefaction defined for kids. ADVERTISEMENT.
Rare. 1  Bloated. 2  change in taste, or bad, unusual, or unpleasant (after) taste. 3  cold intolerance. 4  excess air or gas in the stomach or intestines. 5  full feeling. 6  general feeling of discomfort or illness. 7  hair loss or thinning of the hair. 8  hives or welts. 9  lack or loss of strength. 10  pain. 11  passing gas. 12  red, sore, or itching skin.