business
Can an LLC member take a salary?
If the LLC is taxed as a normal LLC, its members cannot be employees or receive salaries. One of the benefits of an LLC is that the business entity does n...
Read Journal Category
Business
business
Can Alipay transfer money to US bank account?
Chinese citizens can use Alipay to send a wire transfer from a Chinese bank or Alipay account to a U.S. bank account, and it’s my preferred way to send mo...
Read Journal
business
Do I need QuickBooks if I have a CPA?
If you have QuickBooks, you may still need an accountant. When you start a new business, an accountant can help you identify the most helpful chart of acc...
Read Journal
business
Can you have two 457b plans?
If a governmental 457(b) allows both the age-50 catch-up and the 3-year catch-up, you can use the one that allows a larger deferral but not both. You’re i...
Read Journal
business
What is partners capital on balance sheet?
A company that includes partner’s capital on the balance sheet has the structure of a partnership. This means that two people or more co-own the business ...
Read Journal
business
How much take home pay is 20k?
On a £20,000 salary, your take home pay will be £17,262 after tax and National Insurance. This equates to £1,439 per month and £332 per week. If you work ...
Read Journal
business
Are military pensions guaranteed?
Pentagon officials are calling the move the biggest update to the military’s pension and benefits since World War II. Until this year, all military member...
Read Journal
business
How much of your 401K can you use to buy a house?
In general, you can only borrow up to 50% of your vested account balance or $50,000, whichever is less. Some plans may offer an exception if your balance ...
Read Journal
business
What happens to a 529 if not used for education?
If assets in a 529 are used for something other than qualified education expenses, you’ll have to pay both federal income taxes and a 10 percent penalty o...
Read Journal
business
Do small businesses file taxes as individuals?
Many small business owners use a sole proprietorship which allows them to report all of their business income and expenses on a Schedule C attachment to t...
Read Journal