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Who is the client in consulting?
Official clients This is the person or group who hired you (if you are external) or assigned work to you (if you are internal). They probably interviewed ...
Category: General
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How much is franchise tax for LLC in Texas?
Tax Rates, Thresholds and Deduction Limits Item Amount Tax Rate (retail or wholesale) 0.375% Tax Rate (other than retail or wholesale) 0.75% Compensation ...
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What is an audited bank statement?
To Audit a Bank Account Go over them and confirm that the reconciliation document captures any differences between the bank statement and the ledger. If t...
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Are wages paid in advance or arrears?
Is Salary Paid in Advance or Arrears? Salary is rarely paid in advance. It’s common practice to pay workers after they’ve completed their work, not upfron...
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Can a US resident open a brokerage account?
Yes, you can be a non-U.S. resident, living in America or living in your own country, and you can buy and sell U.S. stocks. In fact, trading U.S. stocks i...
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Is the interest paid on a reverse mortgage tax deductible?
No, reverse mortgage payments aren’t taxable. Reverse mortgage payments are considered loan proceeds and not income. Interest (including original issue di...
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Can a trust beneficiary be a foreigner?
Naming a Non-US Citizen as Beneficiary Naming a non-US citizen as a beneficiary of a trust can expose the trust to increased tax liability or could result...
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Are telephone capital credits taxable?
Does the member have to report capital credits on tax returns? Capital credits are a return of money paid for electricity in a previous year and are gener...
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Does car allowance get taxed?
Do you get taxed on car allowance? Yes, at your regular income tax rate. A company car (not allowance) tax generally incurs much higher tax costs than an ...
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Should I incorporate my home business?
Businesses that have or expect to have employees should incorporate before hiring them. If you run your business as a sole proprietorship, you as an indiv...
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Is money received from father in law taxable?
The simple answer is “NO”. Any gift in the form of articles, shares or cash are not taxable on your hand. If you want to understand the gift related incom...
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What happens to 401k loan if company goes out of business?
By federal law, all 401(k) money must be held in trust or in an insurance contract, separate from the employer’s business assets. That means your employer...
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Do you get Social Security after retirement?
When you reach your full retirement age, you can work and earn as much as you want and still get your full Social Security benefit payment. If you’re youn...
