education and learning
Are partners expenses tax deductible?
A partner’s expenditure only qualifies for relief if it is incurred “wholly and exclusively” for the purposes of the partnership. Therefore deduction for ...
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civics and society
Which is correct I am yet to receive or I have not?
The sentence: “I am yet to receive” is grammatically incorrect because you want to say: “I have yet to receive his reply” You could also say: “I am not ye...
media and communication
What are the three accounts of the balance of payments?
The BOP statement divides international transactions into three accounts: the current account, the capital account and the financial account. What is the ...
news
What is the latest date for filing federal income tax?
Due to the COVID-19 pandemic, the federal government extended this year’s federal income tax filing deadline from April 15, 2021, to May 17, 2021. In addi...
science and technology
Do you get 500 for each dependent?
Therefore, if you have a dependent college student who is up to the age of 24, you could qualify for a $500 Child Tax Credit. If you have more than one ch...
global affairs
What is the deadline for CARES Act 401k withdrawal?
A4. A coronavirus-related distribution is a distribution that is made from an eligible retirement plan to a qualified individual from January 1, 2020, to ...
culture and society
How long does it take for spouse to process immigration?
Visa processing usually takes around 3-5 months. If you are a permanent resident, you must wait for a visa to become available for your spouse, based on t...
environment and climate
How much does the full aged pension pay per fortnight?
Single: $952.70 per fortnight (approximately $24,770 per year) Couple (each): $718.10 per fortnight (approximately $18,670 per year) Couple (combined): $1...
news
Why did I not get my income tax refund?
It can also be that the taxpayer’s refund request has been rejected, and as per the IT department, the taxpayer owes the taxes. Even if you have filed you...
environment and climate
Can you assume a flood insurance policy?
Premiums for NFIP policies are paid annually, so by assuming an existing policy you do not have to worry about paying a flood insurance premium until the ...
science and technology
What are the steps in processing a tax return?
Your tax return goes through three stages – “Accepted,” “Refund Approved” and “Refund Sent.” During the “Accepted” stage, the IRS is processing your retur...
data and analysis
Can gift certificates be purchased online?
Not only can you buy gift cards online and have them shipped for free, but you can also purchase and email an e-gift card directly to a recipient’s inbox ...
data and analysis
Can credit card be used in business?
Small business credit cards provide business owners with easy access to a revolving line of credit with a set credit limit in order to make purchases and ...