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What is the formula to calculate alimony?
If the alimony is being paid on a monthly basis, the Supreme Court of India has set 25% of the husband’s net monthly salary as the benchmark amount that s...
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How do you record a capital dividend?
Accounting for Cash Dividends When Only Common Stock Is Issued. The journal entry to record the declaration of the cash dividends involves a decrease (deb...
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Are cash gifts from family taxable in Canada?
The good news is that you can give as much cash as you want to any person, related or not, without incurring taxes on the gift. However, any gift of prope...
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How many employees does an S Corp have?
It is taxed on a pass-through basis, meaning it doesn’t pay taxes in its own right. In principle, an S corporation can have no employees. However, in prac...
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Can a life insurance policy gain interest?
The life insurance company generally invests this money in a conservative-yield investment. As you continue to pay premiums on the policy and earn more in...
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What type of EIN do I need for a trust?
Employer Identification Number You need a trust identification number in order to put assets into your trust. Your trust identification number will always...
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Can you remarry in the year of your spouses death?
Remarriage If you remarry in the year of your spouse’s death, you can’t file jointly with your deceased spouse. However, you can use married filing jointl...
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Does an IRA transfer generate a 1099-R?
You should receive Form 1099-R any time you move money in your individual retirement account. Even rollovers to another retirement plan, such as convertin...
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What is the best time of year to buy a boat in Florida?
Most boaters agree the best time to buy a boat is during the winter boat show season. They also agree that boat shows are great opportunities to take adva...
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What to do if you receive a 1099-C after filing taxes?
If you’ve already filed your tax return, and get a form 1099-C in the mail afterwards, it might mean that you didn’t report the correct amount of taxable ...
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