Is room and board taxable income in Canada?
Employers need to include room and board somewhere in the calculation of their nanny’s payroll. The Canadian Revenue Agency (CRA) states that free housing...
Category: Updates
Does FHA protect against foreclosure?
If you have an FHA loan, you’re entitled to a special loss mitigation process to help you avoid a foreclosure. But the foreclosure itself isn’t any differ...
How do you justify premium price?
How to Formulate A Premium Pricing Strategy Become a Premium Provider. Define Your Value. Go the Extra Mile. Don’t Sacrifice Price, Even When Times are To...
What is the deadline to contribute to a SIMPLE IRA for 2019?
April 15 Under IRS rules, the last day you can contribute funds to your SIMPLE IRA as an employee is April 15, unless that date falls on a Saturday or Sun...
What is sales tax how is it computed?
Sales Tax Calculation To calculate the sales tax that is included in a company’s receipts, divide the total amount received (for the items that are subjec...
What is the journal entry for cash received?
Explanation: Since Bank is an Asset, on receipt of cash from Bank,Bank’s A/c would be credited, as there is a decrease inBank Balance, which is an asset ....
How do you calculate lost contribution margin?
Lost Contribution Breakdown Take the previous description of investment Decision B and its $150,000 lost contribution margin. You could break this down to...
Should a self-employed person incorporate?
Not everyone should incorporate. One benefit of incorporating is that you can get around the self-employment tax. The biggest benefit however is limited l...
How do I make my company an S Corp?
In order to become an S corporation, the corporation must submit Form 2553 Election by a Small Business Corporation signed by all the shareholders. See th...
Do IRA annuity payments count towards RMD?
Do Annuity Payments Count Towards RMDs? Yes, annuity payments, withdrawals, and lifetime income from a qualified annuity will count toward the year’s requ...
