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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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Are S corp profits considered income?
Avoiding Double Taxation According to the IRS: Generally, an S corporation is exempt from federal income tax other than tax on certain capital gains and p...
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What happens to your taxes if your spouse passes away?
If a spouse passes away while still owing back taxes, the surviving spouse must pay the IRS both those back taxes and any current taxes owed. In the year ...
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How much is the basic income grant South Africa?
South Africa’s social grants are too little to live on, ranging from R460 a month for the child support grant to R1,890 a month for the older person’s and...
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Is catered food taxable in PA?
The sale of food and beverages, including candy and gum, by a caterer is subject to tax. The tax is imposed upon the total purchase price billed to the pu...
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What happens when a writ is denied?
More than 90 per cent of writ petitions are denied. As indicated above, denial does not necessarily mean that the matter has been turned down on the merit...
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What annual income is minimum wage?
The annual federal minimum wage earnings for an employee working full-time is $15,078. A full-time employee works 40 hours a week. What is the annual inco...
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Can a UK citizen own a business in Thailand?
Foreigners are not allowed to fully own a company in Thailand ‘ except for US citizens who register with the Thai Department of Business Development under...
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Can you transfer real estate into a self directed IRA?
In order to convert your real estate investment into an IRA, establish a self-directed IRA and use a custodian offering real estate as an investment. Can ...
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What is the difference between inside basis and outside basis?
Partnership tax law often refers to “outside” and “inside” basis. Outside basis refers to a partner’s interest in a partnership. Inside basis refers to a ...
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