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Can Self-Employed use per diem for lodging?
Self-employed individuals and employees can only use the per diem method for meal and incidental expenses, not lodging. The per diem rates for travel can ...
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What factors would you consider when choosing funds for your retirement plan?
Here are a few factors to consider before retirement planning: Keep a retirement budget. You know your expenses. Identify your risk appetite. Figure out h...
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What are the import costs from USA?
The standard VAT rate is 20% that is applicable to most goods and services. The 20% is charged on the total value of the goods including the cost of packa...
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What does it mean when something is 100 tax deductible?
When an advertisement says “Fully Tax Deductible” they really mean that you will be able to claim the full amount to reduce your net taxable income, it wi...
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How is life insurance different from general insurance?
While life insurance covers the life of a person, general insurance provides cover to other aspects and assets in a person’s life, for example, health, ca...
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Is there a limit on home office deduction?
So if your home office takes up 10% of your home, then you can only deduct 10% of each expense. Now you subtract expenses related to your business activit...
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Can you refinance a house you are renting?
When refinancing a rental property, lenders ask you to have more equity built up than with a traditional mortgage. In most cases, the lender will require ...
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What is the difference between reimbursement and allowance?
Reimbursements are some benefits (petrol, driver, mobile, internet) provided by the company at its own expense. So, the company will pay Fringe Benefit Ta...
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How do you calculate the dividend yield of a portfolio?
To find the dividend yield, you must divide the dollar value of the annual dividend by the current share price. Once you’ve divided the annual dividend pe...
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What challenges does the owner of a sole proprietorship face?
Sole proprietors are held personally responsible for any lawsuits, debts and other obligations that may arise while operating the business. This means a s...
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