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Are members responsible for LLC debts?
Limited liability companies (LLCs) are legally considered separate from their owners. In terms of debt, this means that company owners, also known as memb...
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What do I do with inherited stock certificates?
Take the stock certificates and the documents to a financial institution, such as a bank or brokerage firm, that participates in the Medallion Stamp Progr...
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What are the steps in refinancing a home?
The Refinance Process – What to Expect Step One: Check Your Credit. Step Two: Compare Types of Loans. Step Three: Gather Documents. Step Four: Apply for a...
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Are shareholder distributions considered payroll?
When paying shareholder-employees, S corporations may classify outflows as either salary expense or shareholder distributions. Classifying payments as dis...
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What is inventory opening balance?
Opening Day Balance Sheet – Inventory The inventory opening balance is recorded in the balance sheet of the business at cost or net realizable value if lo...
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Is pre tax income the same as taxable income?
Essentially, pretax income provides a basis to calculate an estimate of tax expense. The appropriate tax rate is applied to the pretax income figure to ca...
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What are the resources that can be used for the care of older person?
If you are caring for an elderly parent, consider these seven resources to help manage senior care costs: Available benefits. Depending on where you live,...
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Can you own a company but not be the CEO?
If a person owns 100% of a company, he or she is the owner of that company. Over time as their company grows, owners may take on the formal title of CEO. ...
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Does Fannie Mae have property flipping guidelines?
Fannie & Freddie are extremely vague when it comes to their flipping rule. Fannie Mae requires that the lender obtain a signed and complete appraisal ...
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Do Section 179 vehicles have to be new?
Can Both New and Used Vehicles Qualify for Section 179? As with all Section 179 deductions, the vehicle must be new, or new to you. So yes, used vehicles ...
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