global affairs
What is the 14 year rule for IHT?
This is often referred to as ‘the 14 year rule’. The tax on gifts in the seven years before death must be recalculated at the death rate of 40%. Any charg...
Category: Global Affairs
global affairs
Can a case go to court without evidence?
No competent prosecutor will take a case to trial without some form of evidence. In the absence of evidence, a person cannot be convicted. Evidence is how...
global affairs
Can S Corp deduct self-employment tax?
S-corporations are pass-through entities. That is, the corporation itself is not subject to federal income tax. Instead, the shareholders are taxed upon t...
global affairs
What are land installment contracts?
A type of contract for the purchase and sale of real property in which the seller provides financing to the purchaser, without the use of a third-party le...
global affairs
How much do camera lenses depreciate?
bodies 25% a year; flashes and accessories 20% a year; lenses 10% a year. How do you calculate depreciation on a camera? A camera released 5 years ago at ...
global affairs
Is a Will legally binding after divorce?
If you divorce, your Will from the marriage remains valid, but your ex-spouse is now treated as if they were dead. This means part of your estate could fa...
global affairs
What is QSST trust?
A Qualified Subchapter S Trust, commonly referred to as a QSST Election, or a Q-Sub election, is a Qualified Subchapter S Subsidiary Election made on beha...
global affairs
What entities are required to receive a 1099?
Who Should (or Should Not) Receive a Form 1099-MISC? Individuals. Sole proprietorships. Partnerships, including limited partnerships and professional part...
global affairs
Can I roll my 401k into a business?
401(k) business financing (also known as Rollovers for Business Start-ups or ROBS) allows you to tap into your retirement account and use that money to st...
global affairs
Is there a demand for enrolled agents?
Due to the fact that this type of work can be quite complex, the job of an EA is often in high demand. In order to work as an enrolled agent, candidates m...
global affairs
Are capital gains distributed in final year of trust?
Because all the assets of the trust, including all capital gains, will be actually distributed to the beneficiary at the termination of Trust, all capital...
global affairs
Can a non-UK resident open a business account?
You do not have to live in the UK to open a business bank account. There are no legal restrictions that stop non-UK residents and non-UK citizens from ope...
global affairs
What questions can you not ask a potential tenant?
7 innocent-sounding questions that landlords cannot ask rental applicants: In what country were you born? Do you have a service animal? Your children are ...