Boot process financial definition of Boot process
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or an asset
added to a trade
in order to make it reflect the fair market value
of the assets being traded. A common example of a boot is a trade between a new car and an old car. The person trading the old car will usually add money or another asset to the deal in order to make it "even." The boot is often taxable
even in an otherwise tax-free transaction
(1) Money or other property that is not like-kind and is given to make up the difference in value between two properties exchanged in a like-kind exchange under Section 1031 of the Internal Revenue Code.If a gain would otherwise be recognized on the transaction,except for the intervention of the 1031 vehicle,then gain must be recognized and taxes paid to the extent of the value of the boot. (2) Especially in Texas, it is common among property developers to require some type of boot to show that more than money is involved in their business transactions.
Example: A seller might agree to sell prime property for $12,000,000, but only if the buyer throws in a particularly handsome bronze statue sitting on his desk.
Cash or property of a type not included in the definition of qualifying property for purposes of structuring a nontaxable exchange. The receipt of boot will cause an otherwise tax-free transfer to become taxable to the extent of the lesser of the fair market value of the boot or the realized gain on the transfer. Examples of nontaxable exchanges that could be partially or completely taxable due to the receipt of boot include transfers to controlled corporations and like-kind exchanges.
References in periodicals archive
And, maybe most importantly, with newer hardware that uses a UEFI (Unified Extensible Firmware Interface) hardware boot process
and SSD hard drives, you'll see even more drastic startup speed boosts.
Even the boot process
has finally been revamped to use a Metro-style UI.
It has a special boot process
that makes Chrome OS start fast, in 8 seconds
Startlingly, the boot process
was in an aesthetically pleasing purple, using plymouth and Kernel Mode Setting.