Personal Property for Beginners
by Emelino T Maestro, Tax Accounting Guru
What does it mean? A personal property is a movable asset such as chattels and personalty.
Types? The (a) personal tangible assets such as machineries, furniture and fixture, equipment, etc. and (b) personal intangible assets such as shares of stocks, deposits in banks, bonds, securities, etc. are the two (2) types of personal property.