Definition of RATTLY. : likely to rattle: making a rattle. See rattly defined for kids. ADVERTISEMENT.
Legal protection from a lawsuit. Regulators often apply safe harbor to some corporate actions as long as those actions are taken in good faith. 1. A regulation that protects individuals or corporations from the legal consequences of certain actions they undertake.
A safe harbor allows you to take certain actions with minimal questioning, assuming you follow IRS rules. For the de minimis safe harbor election, the limit is generally $2,500 per asset, but if you have an AFS, the limit goes up to $5,000. Taking advantage of the de minimis safe harbor election can substantially reduce your businessâs income tax burden.