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Are the losses incurred during property revaluation tax deductible?
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Can the asset revaluation reserve amortized or written off to the P and L every year?
No! the asset revaluation reserve equal to the amount of depreciation charged during the year on the revalued asset should to be transaferred to the Retained Earning.
What is an cash loss?
the loss after depreciation incurred during the year is called as cash loss
What is used to provide separate accounting and reporting for costs incurred during an emergency or in support of a special program to obtain reimbursement for costs incurred?
emergency and special program (ESP) code
Can you claim gas to work on your income tax?
No. Commuting is a non-deductible personal expense. If you use your car for your job, such as running errands or driving between job sites during your work day, those miles may be deductible.
Paid cash for your home 119271.71 where does this amount go on your taxes for 2007?
Purchasing a house is not tax-deductible.You can deduct mortgage interest (which you do not have) and property taxes. If you received a property tax credit from the seller, which appears on the settlement sheet from your closing, you must net that against any taxes you paid during 2007. If there was any credit for taxes due in 2008, net that portion of the credit against property taxes you pay in 2008 to figure your deductible portion.
What if your employer recently changed insurance companies midyear without telling you your deductible for the year was fully paid Do you have to pay a new deductible now?
Most insurance companies allow credit for the deductible met for services that actually incurred during the same calendar year. Call your new insurance company and find out if they allow the credit and what proof they require.
What does annual deductible mean for health insurance?
The annual deductible is the aggregate maximum amount that the insurance policy requires the insured(s) to pay over the course of a year in deductibles. Stated otherwise, a deductible will normally be incurred for each physician's visit, medical test, or other procedure. There may come a point however, during the course of the year, when the total of all of those deductibles meet or exceed the annual deductible (specified in the policy). At that point the annual deductible will have been met and until the start of the new policy year, no further individual deductibles will have to be paid.
Is Arizona a Tenancy by the Entirety state?
No, it is a community property state. In a CP state all property acquired during the marriage is considered to be equally owned by both spouses, and in most cases all debts incurred during the marriage are considered to be the equal responsibility of both spouses.
Are you responsible for your spouse's debts?
yes * Only if the couple reside in a community property state and the debt is incurred during the marriage. All CP states allow a spouse to use the "innocent spousal" defense concerning marital debts if the spouse was not aware of the debt made or had no control over the matter. Texas and Wisconsin are not "true" community property states when it relates to marital debts solely incurred. In all other states sole debts belong to the spouse who incurred them.
Will I lose marks during revaluation of my exam paper for 2nd PUC?
no i dont think so....
Can a spouse's income be garnished by a judgment creditor?
Yes, if the spouse is a co-debtor and named in the final judgment writ. Or the married couple reside in a community property state and the debt was incurred during the marriage.
Can the asset revaluation reserve amortized or written off to the P and L every year?
No! the asset revaluation reserve equal to the amount of depreciation charged during the year on the revalued asset should to be transaferred to the Retained Earning.
Is California a tenancy by the entirety state?
No, it is a community property state. Tenancy By The Entirety is reserved for married couples only. In a CP state all property acquired during the marriage is considered to be equally owned by both spouses, and in most cases all debts incurred during the marriage are considered to be the equal responsibility of both spouses.
Is Iowa a community property state?
No, when it pertains to marital property, Indiana is an "equitable distribution" state. When it pertains to debts, both spouses have responsibility for debts jointly incurred during the marriage, solely incurred debts are the responsibility of the account holder spouse.
Who was a loyalist in the American revaluation?
American Colonist who remained loyal to Great Briten during and after the American revolutionary war.
In Oregon can a surviving spouse be sued for credit card debt that was solely incurred by the deceased spouse if there is no estate only personal belongings and home held as Tenancy By The Entirety?
Oregon is not a community property state, therefore the surviving spouse would only be liable for debts that were jointly incurred during the marriage. Property held as TBE is not subject to probate procedure as it passes directly to the surviving spouse, neither can TBE property be attached for creditor debt when only one spouse is the debtor.
Can your spouse be held responsible for your debt?
No. Debts incurred before the marriage belong to the individual, those made jointly during a marriage belong to both. Married couples who reside in a community property state are generally held accountable for debts made during the marriage regardless of which spouse actually incurred the debt(s). (Texas and Wisconsin do not treat all marital debt in the same manner as do the other community property states).
