updates
Is a van a capital allowance?
You can claim capital allowances when you buy assets that you keep to use in your business, for example: equipment. machinery. business vehicles, for exam...
Category: Updates
updates
Can you pay bills at clicks?
Did you know you can now pay your bills and buy prepaid services on the Clicks App AND earn ClubCard points? Pay your bills, DSTV & buy prepaid electr...
updates
How many days late can an employer pay you?
30 days The waiting time penalty provides an employee with payment equal to one day’s wages for every day of late payment – capped at 30 days. California ...
updates
What is the minimum number of hours per week an employee needs to work to be considered full-time?
Most employers determine full-time status based on business needs and typically consider an employee to be full-time if they work anywhere from 32 to 40 o...
updates
What are considered recourse liabilities?
There are two types of debts: recourse and nonrecourse. A recourse debt holds the borrower personally liable. All other debt is considered nonrecourse. In...
updates
What percentage of small business income is taxed?
Small businesses of all types pay an average tax rate of approximately 19.8 percent, according to the Small Business Administration. Small businesses with...
updates
At what age can your parents stop claiming you?
You can claim dependent children until they turn 19, unless they go to college, in which case they can be claimed until they turn 24. If your child is 24 ...
updates
What year were taxes the highest?
In 1944-45, “the most progressive tax years in U.S. history,” the 94% rate applied to any income above $200,000 ($2.4 million in 2009 dollars, given infla...
updates
Do I need to file a US tax return if I live abroad?
Do I still need to file a U.S. tax return? Yes, if you are a U.S. citizen or a resident alien living outside the United States, your worldwide income is s...
updates
Can you make a retroactive S Corp election?
A corporation can file Form 2553 after the due date and still receive IRS approval to make the election retroactive to the beginning of the corporation’s ...
updates
What is the structure for filing taxes for a sole proprietorship?
Sole proprietorships are subject to pass-through taxation, meaning the business owner reports income or loss from their business on their personal tax ret...
updates
Who owns the building in a ground lease?
A ground lease is an agreement between a landowner and a tenant, in which the tenant leases land for a new build. The lessee is the owner of the building ...
updates
Can I claim my State Pension early through ill health?
Although you can retire at any age, you can only claim your State Pension when you reach State Pension age. If you’re retiring because of ill-health you m...
