What does a credit directors loan account mean?
A director’s loan is money you take from your company’s accounts that cannot be classed as salary, dividends or legitimate expenses. To put it another way...
Category: Updates
When to convert from sole proprietorship to S Corp?
If your business is operating as a sole proprietorship, and you’re a U.S. citizen or equivalent, converting to an S corporation is relatively simple. Step...
How do I restore a Quicken program?
In Quicken, select File > Backup and Restore > Restore from Backup File…. Select Restore from automatic backups. Select the file to restore. Click R...
Does equitable distribution mean 50-50?
The main difference between community property and equitable distribution is that in community property states, there is an absolute 50-50 split of all pr...
Can limited partners deduct losses?
The IRS generally does not allow limited partners to deduct losses related to passive activities, except to the extent that those losses can offset other ...
What should I do when I transfer my rental property to a LLC?
You must also change your insurance to make sure it’s still valid when you transfer the property to an LLC. It is common for owners of both investment and...
What is the best answer to guess on the ACT?
The idea that C is the best answer to choose when guess-answering a question on a multiple choice test rests on the premise that ACT answer choices are no...
Can you write off mortgage interest on rental property?
If you receive rental income from the rental of a dwelling unit, there are certain rental expenses you may deduct on your tax return. These expenses may i...
How much does it cost to have financials audited?
With the costs of having audited financial statements ranging from $20,000 to $50,000 annually depending on the complexity of your company, it’s a serious...
When was the last time the Canadian dollar was higher than the US dollar?
September 28, 2007 On September 28, 2007, the Canadian dollar closed above the U.S. dollar for the first time in 30 years, at US$1.0052. On November 7, 20...
