The business you are in affects the type of records you need to keep for federal tax purposes. Your recordkeeping system should include a summary of your business transactions. This summary is ordinarily made in your business books (for example, accounting journals and ledgers).
Chambers 20th Century Dictionary(0.00 / 0 votes)Rate this definition: Waive. wÄv, v.t. to relinquish for the present: to give up claim to: not to insist on a right or claim.ân. Waiâ²ver, the act of waiving: renouncement of a claim: process by which a woman was outlawed. [O. Fr. guever, to refuse, resignâperh.
A waiver is the voluntary relinquishment or surrender of some known right or privilege. Regulatory agencies or governments may issue waivers to exempt companies from certain regulations. For example, a United States law restricted the size of banks, but when banks exceeded these sizes, they obtained waivers.n example of a written waiver is a disclaimer, which becomes a waiver when accepted. When the right to hold a person liable through a lawsuit is waived, the waiver may be called an exculpatory clause, liability waiver, legal release, or hold harmless clause.