general
What percentage of US budget is interest on debt?
This year, the federal government will spend $300 billion on interest payments on the national debt. This is the equivalent of nearly 9 percent of all fed...
Category: General
general
What does independent contractor consist of?
An independent contractor is a self-employed person or entity contracted to perform work for—or provide services to—another entity as a nonemployee. As a ...
general
What happens if I overpay my payoff amount?
If there’s money left in your escrow account after you’ve paid off your mortgage and/or you overpaid the loan (by paying before the good-through date, for...
general
What is PTA member in school?
Parent Teachers Association (PTA) is a non-profit, non–political and non– sectarian organization made. up of school staff and parents which work to suppor...
general
Why did Reese sell Hello Sunshine?
Actress Reese Witherspoon said selling Hello Sunshine will allow the company to tell more female-led stories and to hire more female filmmakers. In additi...
general
What is qualified recourse?
The definition of qualified nonrecourse financing is not that difficult to understand. It represents debt that is secured by real property that is used in...
general
When you become a US citizen do you give up your foreign citizenship?
The U.S. government does not require naturalized U.S. citizens to relinquish citizenship in their country of origin. Although the Oath of Allegiance to th...
general
Can you itemize travel expenses?
You can deduct travel expenses paid or incurred in connection with a temporary work assignment away from home. Deductible travel expenses while away from ...
general
What is subject to NYC UBT?
What Activities are Subject to This Tax? Unincorporated Businesses include: trades, professions, and certain occupations of an individual, partnership, li...
general
Can you have EAD and H1B at the same time?
Yes. Using EAD for employment will terminate your existing H-1B status. However, some immigration attorneys believe that although using EAD to work for yo...
general
What happens to liabilities when a partnership business ends?
When a partnership dissolves, the individuals involved are no longer partners in a legal sense, but the partnership continues until the business’s debts a...
general
How do I report cash liquidation distributions on 1099-div?
The IRS mandates in section 331(a) of the IRS Tax code that distributions of $600 or more must be reported on Form 1099-DIV. Any taxable amount the invest...
general
How does a PEO benefit employees?
A PEO helps with both compliance-related tasks and employee liability, “greatly [streamlining] business operations” and giving you peace of mind. PEOs typ...
