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Is a building considered asset liability or owners equity?
Building is an asset of business by utilizing which company earns revenue to pay all liabilities and owner's capital.
Do I have to pay taxes on insurance paid on apartment building due to fire We r corporation?
Maybe.. The best way to describe the situation is to think of it as a sale of the property. You don't have to pay taxes on insurance proceeds up to the amount of your tax basis on the property. You will have to pay taxes on any payments above your tax basis. If you receive more than your basis you pay tax on the gain. This is assuming the property is a total loss. If it was repaired, then your basis would transfer to the repaired property, no loss, no gain.
What is a tax lien list, and what does it mean for a business?
A tax lien is issued when a company fails to pay their taxes. If they do not pay their back taxes the property may be foreclosed. A tax lien list contains a list of delinquent properties.
Where do I go to pay my property taxes in Graham, NC?
You can go to 201 South Main Street to pay your property taxes.
What if you can't pay your property tax?
If you can't pay your property tax, eventually your home would be taken for payment of back taxes.
Do business owners have to pay a tax on rental property?
Property taxes are generally the responsibility of the owner. They are paid for by the owner from the rent he or she receives. If the business owns a property and rents it to others, they must pay tax, but if the business rents the property, they do not.
Can a property under probate be let?
Yes, property under probate can be rented or leased. The executor has the power to preserve the estate and this is one way of obtaining money to pay debts.
Do you pay tax for your rented property?
If you're the one renting it... indirectly, in that the owner will charge rent sufficient to cover expenses, including the property tax. If you're the owner... yes, directly.
How do relocation companies make money?
I think there are a couple ways... 1 is that a company that is moving an employee will pay them for the service. The other is that the property management companies will pay them a fee when a unit gets leased or rented.
What are the benefits of using Web Business?
When you are operating an online business, you do not have to pay rent or lease for a building, or any bills. All you will pay for is for the web hosting.
I rent a home with a detached shop that I run a business out of. If my car damages the building and my business contents will my comprehensive pay for my assets and the landlords building?
Renters InsuranceNo. Your renters Insurance Policy is personal lines residential tenants coverage. It should provide coverage for your "Personal Property" and may have some liability and personal injury coverage as well. Your Renters or "Tenants Policy" would not cover your business property nor the property of another person. Your landlord is expected to have his own property coverage.If you need coverage for your business property you would need to pick up a business owners insurance policy. Your personal lines residential rental policy would not cover your business property.AnswerYou'd have to examine the contents of your vehicle insurance policy to determine what would be covered.
Can a music store repossess rented instruments?
If you rented it from the store, then it is likely. Be sure to pay on time.
If a landlord runs his or her business on the same property as the house can he have the power to the business running through the line that you pay for?
Not without your permission.
What sort of bills do you have to pay in a business?
Among the expenses a business (company) typically pays for includes utilities, communications (phones, internet, etc), office space, building/property, taxes, wages, supplies, insurance, hiring and training costs, advertising, and materials and/or products.
Are adult children responsible for bills with an estate?
When you die leaving your estate to your children they are liable to pay the tax or mortgage etc and if the property is then rented to another by your children they are still liable for the taxes on that property and not the tennant as they pay the rent to the children for the privelidge of having full use of the property but the property remains under the ownership of your children and it is the owner that is liable for the payment of taxes mortgage etc
What if you lose a DVD?
then you lose it but if you rented it then you'll have to pay for it.
How do you get out of a contract for renting a property?
Landlords have different policies. Some may ask you to repay until re-rented, pay the remainder of the lease, or pay a lease break fee. You always must provide the landlord with proper notice.
