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What is an established trust?
Trusts are established to provide legal protection for the trustor’s assets, to make sure those assets are distributed according to the wishes of the trus...
Category: General
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What happens when you are diagnosed with terminal cancer?
When cancer is advanced it means that it can’t be cured. Doctors might also say that the illness is terminal. This means that it is likely to cause death ...
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Do you get child tax credit if your child is 17?
For every child 6-17 years old, families will get $250 each month, and for every child under 6 years old, families will get $300 each month. The 80% who g...
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What is excluded in sales tax?
Some items are exempt from sales and use tax, including: Sales of certain food products for human consumption (many groceries) Sales to the U.S. Governmen...
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Is inheritance money taxable in Georgia?
Georgia has no inheritance tax, but some people refer to estate tax as inheritance tax. The tax is paid by the estate before any assets are distributed to...
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Why is it important to develop new software programs for businesses?
Use of the software is important for automation of the organisation’s tasks as well as reporting the progress or lags in the organisation’s activities. Th...
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What does the word renumeration mean?
(Renumeration, a very rare word, means “to enumerate [to count or list] again.”) It pays to know that the “-mun-” in remuneration is from Latin munus, mea...
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Can a trustee have multiple trusts?
Trusts in California can have multiple trustees, not limited to merely two. California trust law requires that co-trustees act unanimously. If the trust i...
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How much of a death benefit is exempt from income tax?
A death benefit is income of either the estate or the beneficiary who receives it. Up to $10,000 of the total of all death benefits paid (other than CPP o...
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Are independent contractors considered at will?
The main distinction between an employee or at-will employee and an independent contractor is that the independent contractor is responsible to the princi...
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Can a motorcycle be a business expense?
You can deduct this if: The car or motorcycle is necessary in the ordinary course of your business. Padar has a client who teaches people how to ride moto...
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What is the federal NOL carryforward period?
NOLs may now be carried forward indefinitely until the loss is fully recovered, but they are limited to 80% of the taxable income in any one tax period. T...
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Who owns most of the music distribution industry?
Nielsen SoundScan in their 2011 report noted that the “big four” controlled about 88% of the market: Universal Music Group (USA based) — 29.85% Sony Music...
