world news
What are the roles and responsibilities of a church Treasurer?
Typical Church Treasurer duties include collecting and depositing tithings, bank account reconciliation, preparing receipts for donors, payroll (if applic...
Category: World News
world news
What is considered self-employment?
Self-Employed or Employee. You are considered self-employed if you carry on a trade or business (not just a hobby) or you are in business for yourself whe...
world news
Do you have to issue shares in an S Corp?
The company isn’t required to issue all the shares that are authorized to sell. An S corporation can be authorized to issue 50,000 shares, but the boards ...
world news
Can a working professional pursue PhD?
There is a great interest amongst working professionals to pursue higher studies. Many institutions in India offer flexibility for working professionals t...
world news
Do you have to claim wedding gift money on taxes?
Although the IRS does have a gift tax, you don’t have to pay taxes on your wedding gifts. The giver is generally responsible, but unless the gift is excep...
world news
Can my parents credit card debt affect me?
Can you inherit debt from your parents? Usually, the answer is no, but you may still have to deal with pushy debt collectors and you’ll probably want to c...
world news
What did you consider active or passive activities?
The difference between the two is that active activity involves using a lot of energy and makes you move around a lot and makes you active. When passive a...
world news
Can I convert employee to independent contractor?
A: It is possible to transition an employee to a contactor if the worker truly meets the legal tests for independent contractor status. If the work is a c...
world news
What happens when a bond defaults?
Bond defaults happen when a company stops paying interest on a bond or does not re-pay the principal at maturity. If a company defaults without declaring ...
world news
What determines your place of residence?
While states differ somewhat in how they define the place of domicile, the general rule of thumb can be stated as follows: the domicile is the place a per...
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Where are federal tax liens recorded?
Federal tax liens are recorded at the request of the Internal Revenue Service. For questions about a federal tax lien, contact the IRS directly: Centraliz...
world news
Will the April 15 deadline be extended?
Though last year the IRS extended the deadline from April 15 to July 15, this year the agency has granted us only one extra month: Your 2020 tax return is...
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What is the tax code for a non-profit organization?
501 Section 501(c)(3) is the portion of the US Internal Revenue Code that allows for federal tax exemption of nonprofit organizations, specifically those ...
