How do you respond when someone says glad?
“You too” is a short way of saying “It is nice to meet you too”. “I’m glad to meet you” should be responded with “me too” because it is a short way of say...
Category: Updates
What do I have to do as a beneficiary of an IRA?
Beneficiaries of a retirement account or traditional IRA must include in their gross income any taxable distributions they receive. When does an inherited...
Why will a customer buy health insurance?
Health insurance provides people with a much needed financial backup at times of medical emergencies. Health risks and uncertainties are a part of life. H...
What was the number of new houses sold in 2018?
There were 617 thousand new houses sold in the United States in 2018. The number of new houses sold in the United States took a big hit during the financi...
Who is the employer of a company?
More specifically, an employer is an organization, institution, government entity, agency, company, professional services firm, nonprofit association, sma...
What happens if my son makes more than 4000?
My son made more than 4000. As long as your son didn’t provide more than half of his own support for the year you can still claim your son as your depende...
Is 58 years old too old to buy a house?
In my professional opinion, it’s never too late to buy a home as long as you can afford the mortgage. So even at the age of 58, having a 15 or sometimes 3...
Are divorced moms considered single moms?
So, even if you are divorced, you are a single mom — no matter how much you want to distance yourself from THOSE PEOPLE who never married. How does divorc...
What is the inclusion rate for capital gains?
The inclusion rate for capital gains is 40% for individuals. This means that 40% of the gain (i.e. R 60 000 x 40% = R 24 000) is added to Sarah’s taxable ...
Are PPP loans reported on 1120S?
The PPP loan is not treated as a debt when answering the questions on the Forms 1065 and 1120S that ask if the taxpayer has had any forgiveness of indebte...
