global affairs
What happens when inventory is sold?
Transaction Upon Selling When an item is ready to be sold, it is transferred from finished goods inventory to sell as a product. You credit the finished g...
Category: Global Affairs
global affairs
Why am I being asked to fill out a W4?
Employees fill out a W-4 form to inform employers how much tax to withhold from their paycheck based on filing status, dependents, anticipated tax credits...
global affairs
What does it mean when your tax refund says processed?
This means the IRS has your tax return and is processing it. Your personalized refund date will be available as soon as the IRS finishes processing your r...
global affairs
Can a business write off donations?
Sole proprietors, partners in a partnership, or shareholders in an S-corporation may be able to deduct charitable contributions made by their business on ...
global affairs
When to file quarterly sales and use tax?
Annual to quarterly – If you are currently an annual filer, and during your annual filing period, your total sales and use tax due exceeds $3,000, the Tax...
global affairs
What is the average unemployment check in SC?
The weekly benefit amount in South Carolina ranges from a minimum of $42 a week to a maximum of $326 a week, before taxes. The maximum benefit amount (MBA...
global affairs
Will banks notify you if you are about to overdraft?
Shouldn’t the bank have sent me a notice? The bank is not required to notify you when a check bounces because of insufficient funds. You are responsible f...
global affairs
What is a qualified business for Schedule C?
A qualified trade or business is any section 162 trade or business, with three exceptions: A trade or business conducted by a C corporation. The trade or ...
global affairs
Should I claim my 18 year old son as a dependent?
Answer: Deena – Generally parents do claim their 18 year old high school students as dependents. – You cannot claim a person as a dependent unless that pe...
global affairs
How do I set up an HSA for my business?
Setting up an HSA as an employer Contact your current insurance carrier. If you’ve already picked a health insurance provider, see if it also offers an op...
global affairs
Can you file 2020 taxes without filing 2019?
There’s no law or rule that says you have to file your 2019 return before you can do your 2020 return. However, it’s best to prepare your 2019 return firs...
global affairs
Can day traders deduct losses?
You’ll often find for the purposes of taxes for day trading, you can write off (deduct) capital losses, up to the number of capital gains you’ve earned th...
global affairs
Can an Australian citizen become a New Zealand citizen?
If you are an Australian citizen or permanent resident You can apply for New Zealand citizenship if you have lived here for at least the last 5 years. Can...