updates
Are tax credits subtracted from your gross income?
A tax credit is an amount of money that taxpayers are permitted to subtract, dollar for dollar, from the income taxes that they owe. Tax credits are more ...
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Is it against the law to require a Social Security number?
There is no law that prevents businesses from asking for your SSN. And you may be denied service if you don’t give the number. If giving your SSN to a bus...
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What income do I declare for tax credits?
Income includes: money from employment before tax and National Insurance, including if you cannot work but you’re still getting paid (‘on furlough’) – che...
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Can retirees return to Thailand?
The Thai government has now announced that the holders of the one year O/A visa (based on retirement) and the O/X ten year visa can now apply for that all...
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What is the entry when a company received cash for services rendered?
Cash is received from the customer for the provision of the services. The credit entry to the service revenue account records the revenue earned as a resu...
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What is it called when someone moves to the US?
Emigrate means to leave one’s country to live in another. Immigrate is to come into another country to live permanently. Migrate is to move, like birds in...
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When you buy a house do you pay monthly?
Monthly payments are the most predictable cost associated with buying a home. One mistake many first-time home buyers make is thinking that, like rent pay...
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Did Albert Einstein say a person who never made a mistake?
“A person who never made a mistake never tried anything new.” (Albert Einstein.) What does Albert Einstein mean by saying anyone who has not made a mistak...
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Can a partnership elect to be taxed as a corporation?
Yes. You can elect to be classified as a partnership or an association taxable as a corporation. Can a limited partnership elect to be taxed as an S corpo...
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Which is paid on borrowed money?
Interest- The price that people pay to borrow money. When people make loan payments, interest is a part of the payment. Interest Rate- The cost of borrowi...
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