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Providing the necessary income to meet the needs and wants of each partner is called what?
Wiki User
∙ 14y ago
Alimony, Palamony, Child Support. In general they are referred to as Support Payments or economic commitment.
Wiki User
∙ 14y ago
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Do partnerships pay income taxes?
No but they do file a 1065 income tax return and report each partners share of the taxable income to them on a schedule 1065 K-1 and each partner then reports the partner share on the income tax return an pays all of the necessary taxes on it.
What is the money left over after paying your necessary expenses called?
Discretionary Income Discretionary income = Gross income - taxes - all compelled payments (bills) Reference: http://en.wikipedia.org/wiki/Disposable_and_discretionary_income
Does disposable income decrease when income decreases?
yes because the disposable income it is necessary to determine total income so when income decrease does disposable income decrease also.
How will you deal with goodwill when new partner brings his share of goodwill in cash?
as an income
What is the difference amount of expense over income called when income exceeds expense?
Expenses more than income is called "Loss" Income over expenses called "Profit"
Providing the necessary income to meet the needs and wants of each partner is called what commitment?
It would be called financial commitment because u have a partner usually means that ur married n when ur married it usually ur bank accounts are accessible by either part... so nova net answer is...... Financial Nova Net Ninjitsu Master
Do partnerships pay income taxes?
No but they do file a 1065 income tax return and report each partners share of the taxable income to them on a schedule 1065 K-1 and each partner then reports the partner share on the income tax return an pays all of the necessary taxes on it.
You have a dependent but no income?
If you have no income how are you providing over 50% of the care for your dependent? The exemption should go to the person that is providing shelter, food and clothing for the dependent.
What is the money left over after paying your necessary expenses called?
Discretionary Income Discretionary income = Gross income - taxes - all compelled payments (bills) Reference: http://en.wikipedia.org/wiki/Disposable_and_discretionary_income
Is an income the money you earn for providing a service?
~Yes!~
Imputed income for domestic partnership for life insurance?
There would only be imputed income if your employer provided life insurance for your domestic partner. I don't mean that your partner would be the beneficiary - - I mean that your partner would be the insured party. If that happened, then the cost of the premium would be counted as imputed income for purposes of federal income tax and for some state taxes as well, unless your domestic partner were your dependent. If you were legally married heterosexuals, then there would be no imputed income except on the value of policies which exceed about $50,000.
Is interest on fixed deposit an expense or income?
To the depositor, it is an income but to the bank or institution providing the fixed deposit as a product, it is an expense.
What are five other taxes providing government revenue besides income taxes?
tips salary income deductions
Does disposable income decrease when income decreases?
yes because the disposable income it is necessary to determine total income so when income decrease does disposable income decrease also.
Can file your income taxes as head of household if you pay more than half of your domestic partner's expenses?
You did not say whether you meant federal or state income taxes. In any case, you can claim your domestic partner as a dependent if he/she lives with you and you pay more than half of his/her expenses, and he/she is a citizen of either the US, Canada or Mexico, and his/her personal income is below the allowable threshold. However, the IRS has stated that domestic partners do not meet the criteria of "family" necessary for claiming "head of household" status.
What is the difference in taxable income and nontaxable income?
Taxable income is stuff that you paid for that will benefit you for your job or business. Nontaxable income is income that isn't necessary to needing it to be taxed.
What paperwork is necessary to apply for loans from Tesco Bank?
When applying for a loan from Tesco Bank you will need to fill out a loan application along with providing proof of income, and bank information. Then you will just need to sign the load agreement.
