health and wellbeing
Will 2020 tax returns be offset?
NTA Blog: Update on Offset of Recovery Rebate Credits: The IRS Has Agreed to Exercise Its Discretion to Stop Offsets of Federal Tax Debts. Unlike the adva...
Category: Health And Wellbeing
health and wellbeing
What can I claim when selling investment property?
Management and maintenance costs, including strata fees, council rates, water rates, cleaning, gardening and pest control fees. Insurance for your investm...
health and wellbeing
What are the factors that limit the effectiveness of internal control?
What are the Limitations of Internal Controls? Collusion. Two or more people who are intended by a system of control to keep watch over each other could i...
health and wellbeing
What are the items of current assets?
Current assets include cash, cash equivalents, accounts receivable, stock inventory, marketable securities, pre-paid liabilities, and other liquid assets....
health and wellbeing
When one parent dies who gets custody?
If you share parental responsibility for your child, upon your death, the surviving parent automatically gets sole parental responsibility for your child....
health and wellbeing
WHAT IS unallowed loss on rental property?
A prior year unallowed loss for rental property is the amount of a loss from your rental (passive) activity that you were not allowed to deduct in the cur...
health and wellbeing
Can a Delaware corporation do business in New York?
Incorporating in Delaware will force your business to register as a foreign corporation in New York (which includes an additional fee) Incorporating in De...
health and wellbeing
How do you solve an account problem?
Here we outline six ways to solve the majority of your accounting issues. Know the difference between profit and cash flow. Understand the impact of purch...
health and wellbeing
What if I filed 2018 taxes but not 2019 stimulus check?
According to the new law, the IRS is going to look first to your 2019 tax return to compute the payment. If no 2019 return has been filed, however, the IR...
health and wellbeing
Did the partner contribute property with a built in gain or loss?
When a partnership receives a contribution of ap- preciated property from a partner, the partnership has property with a “built-in gain” in the amount of ...
health and wellbeing
What is the format of income statement?
Key Takeaways: The income statement summarizes a company’s revenues and expenses over a period, either quarterly or annually. The income statement comes i...
health and wellbeing
Should operating leases be capitalized?
Capitalizing Operating Leases The new rule, FASB ASU (Accounting Standards Update) 2016.02, will require that all leases with a term over one year must be...
health and wellbeing
Can an S Corp have a cafeteria plan?
More-than-2% shareholders of an “S-Corp” cannot participate in a cafeteria plan, as they are treated by Code 125 the same as partners and are considered s...