world news
Can I claim a new boiler on my taxes?
Landlords can’t claim for providing or replacing fixtures or fittings, such as baths, sinks or boilers under wear and tear rules. That doesn’t mean the co...
Category: World News
world news
How much does it cost to subdivide a section?
Generally, the average two-lot subdivision can cost around $120,000 – $150,000 for an approved consent, a new Record of Title, professional fees and other...
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Is insurance exempt or zero rated?
Insurance transactions are exempt from VAT. Normally VAT cannot be recovered on goods and services bought in to make exempt supplies, see paragraph 7.1 fo...
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Do you count bathrooms in square footage?
When an appraiser calculates the square footage of a home, it will only measure interior spaces that are heated and cooled. This includes bedrooms (and cl...
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What types of inheritances are taxable?
The following are the most common types of inherited assets and their potential income tax consequences. Cash and Securities. Retirement Accounts. Real Es...
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Can I use my bedroom as a home office?
By exclusive use, the IRS means that the area designated as a home office is used only for the conduct of business and nothing else. A spare bedroom with ...
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Are shares given as a bonus taxable?
Taxing bonus shares The gift of shares in recognition of an employee’s performance or long service will generally be taxable in the employee’s hands as em...
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Who is responsible for a subcontractor?
By law, the principal (or contractor) is considered vicariously liable for the actions of its agents (subcontractors). Why do companies hire subcontractor...
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What is final periodic spousal support?
In a divorce proceeding, the court may award interim periodic spousal support or final periodic spousal support to a party free from fault in the divorce ...
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What does it mean when an expense is not tax deductible?
A deductible expense is one you can subtract from your taxable gross income. Deductible expenses reduce your tax liability. A non-deductible expense, on t...
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Is a corporate wellness program tax deductible?
You may offer a reward for reaching the goal, such as cash or a reduction in the employee’s share of health insurance payments. Any reward your company pa...
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Is money spent at a charity auction tax-deductible?
Donors who purchase items at a charity auction may claim a charitable contribution deduction for the excess of the purchase price paid for an item over it...
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Can I give my timeshare to a charity?
Get Out of Your Timeshare for Good DonateMyTimeshare.org makes it easy to donate your timeshare to a worthwhile 501c(3) charity and to feel good about get...
