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Can Irrevocable trusts be modified when there is no longer any source of income but considerable annual expense?
Wiki User
∙ 16y ago
Depending upon the state and the trust rules, when the expenses of maintaining a trust exceed its value, they can liquidate the estate. Check with a trust attorney in your state.
Wiki User
∙ 16y ago
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Is recording an annual depreciation expense an accrued expense?
Yes. Annual depreciation is the method by which we allocate the cost of a tangible asset over the course of its useful life independent of the cash flows associated with it. As a result, it is considered an accrued expense.
Can an annual credit card fee be a prepaid expense?
yes
Is a crummey trust an irrevocable trust?
Yes, a Crummey trust is a specific type of irrevocable trust commonly used in estate planning to take advantage of annual gift tax exclusion amounts. Beneficiaries of a Crummey trust have the right to withdraw gifts made to the trust within a certain period, after which the gifts become irrevocable.
How much is President Obama getting paid?
The annual salary of President Obama is about $400,000, plus a $50,000 expense account.
What does they annual expense ratio mean?
A measure of what it costs an investment company to operate a mutual fund. An expense ratio is determined through an annual calculation, where a fund's operating expenses are divided by the average dollar value of its assets under management.
You purchased a delivery van for 23000 with a salvage value of 3000 on sept 1 It has a useful life of 5 yrs using the straight-line method how much depreciation expense should be in Dec?
The annual depreciation expense for the delivery van would be calculated as (Cost - Salvage Value) / Useful Life. In this case, the annual depreciation expense would be (23000 - 3000) / 5 = 4000. For December, you would have incurred 4/12 of the annual depreciation expense, which equals 1333.33.
What does no fee software mean?
It simply means that they do not want a software that cost's an annual amount, or a monthly expense.
Can annual expense such as liability ins be divided by 12 months and expenses each month?
stupid person!
What salary does the President receive?
The President of the United State's salary is approximately $400,000 per year. This continues once they have left office in the form of a pension which is equal to the cabinet secretary's pay.Yes. He is compensated at the rate of $400,000 per year. The president also receives several expense accounts.The president earns a $400,000 annual salary, along with a $50,000 annual expense account, a $100,000 non-taxable travel account and $19,000 for entertainment.
What is the salary and the allowances for the president?
The president earns a $400,000 annual salary, along with a $50,000 annual expense account, a $100,000 non-taxable travel account and $19,000 for entertainment
What is the presidents pay check?
The president earns a $400,000 annual salary, along with a $50,000 annual expense account, a $100,000 non-taxable travel account and $19,000 for entertainment. (Wikipedia)
How are accumulated depreciation and depreciation related?
Accumulated depreciation and depreciation are related with each other as depreciation is annual expense while accumulated depreciation is the sum of all annual depreciation expenses.
