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Can a person who has power of attorney over a trust account change that account into a joint account?

no In order to change the account you must be the Grantor of the Trust.


Why is collecting balances from patients at the time of service an important part of revenue cycle management?

Collecting balances from patients at the time of service is crucial for revenue cycle management as it improves cash flow and reduces the risk of bad debt. It ensures that healthcare providers receive payment promptly, minimizing the time and resources spent on billing and collections later. Additionally, addressing balances upfront enhances patient transparency regarding costs, fostering trust and satisfaction. Overall, this practice contributes to a more efficient and sustainable financial operation for healthcare organizations.


What is over recognition of revenue?

Over recognition of revenue occurs when a company records more revenue than it has actually earned, often violating accounting principles. This can happen due to aggressive sales practices, premature recognition of revenue before services are rendered or goods are delivered, or manipulation of accounting estimates. Such practices can mislead stakeholders about a company's financial health, potentially leading to legal repercussions and loss of investor trust. Ultimately, it distorts the financial statements, making it difficult to assess the true performance of the business.


Is the trustee of an irrevocable trust responsible for reporting partial surrender as income to be taxed?

Income to the trust or income to the donor of the trust? If the donor of the trust is taking income from it, this may be considered an incidence of ownership, violating the irrevocable nature of the trust. Ouch. This is potentially a very technical question and may require outside help. You may want to seek the help of a corporate trustee, or use a service from ours.


How are you taxes collected?

Which tax, on what, by whom? Another answer If you are a W-2 earner of a corporation that files 941-940 taxes then they withhold the medicare/social security taxes to be paid to the IRS. This money is withheld in "trust" to be paid on a quarterly basis. However federal income tax should be deducted from your paycheck and reflected on your w-2 for preparation of your yearly returns. The Internal Revenue Serivce collects federal taxes and the state collects their own.

Related Questions

When filing a tax return online is it a high risk to trust websites that offer free e file?

You can e-File directly through the Internal Revenue Service (IRS). Nothing is completely safe online, but filing through the IRS should be relatively low risk.


If a civil judgment is granted to a credit card company can the creditor take the debtor's land or deduct from wages?

Yes they can either take the debtor's land or garnish the debtor's wages. However, in most states, they cannot take your Homestead (which is the principle resident where you live). To avoid having them take your land, before the lawsuit was filed, you needed to put your land in a Living Trust so that the Trust owned the land, not you (then they cannot take it). The only one who can take from a trust, or garnish from a pension, is the Internal Revenue Service (IRS)


How does revenue credit impact fidelity within a business?

Revenue credit can impact fidelity within a business by influencing the trust and loyalty between the company and its stakeholders. When revenue is credited accurately and transparently, it can build trust and confidence in the business's financial integrity. On the other hand, if revenue credit is manipulated or misrepresented, it can erode trust and lead to doubts about the company's honesty and reliability. This can ultimately affect the overall fidelity and reputation of the business.


Where can one find IRS debt relief advice?

You can contact a tax attorney or the Internal Revenue Service directly about obtaining relief from a tax lien or levy. Your public library will have information and publications about how an individual can request the forms from the government.


How do I change who gets what in trust?

(NOT A LAWYER) Typically the director of the trust is the only one who can change anything about a trust.


Is it better to go to a dealership rather than Jiffy Lube for oil change service?

The dealerships tend to charge more money. But I trust a dealership more than I trust a quick oil change chain of stores. Both will do the inspection and several point checks.


How does the performance of a product or service impact the level of trust consumers have in it?

The performance of a product or service directly affects the level of trust consumers have in it. When a product or service consistently meets or exceeds expectations, consumers are more likely to trust it. On the other hand, if a product or service fails to perform as promised, trust can be eroded. Ultimately, trust is built through positive experiences and reliable performance.


What section of the Internal Revenue Code governs charitable lead trusts?

A charitable deduction is allowed for a contribution of an income interest in trust (remainder to a noncharity) onlyif: (1) the donor is taxable on the trust income, and (2) the donated income interest is either a "guaranteed annuity" or a "unitrust interest." (Code Sec. 170(f)(2)(B); Reg § 1.170A-6 )


Can I trust an Online female service in Chennai?

don't trust anyone you don't know


Can I trust costumer service from online banking?

If the bank itself is legitimate, you should be able to trust the costumer service. If you still have doubts, you can ask to speak with a manager.


What is a fiduciary service?

A fiduciary service is a trust impose in a person to act on someone's behalf


Where can one find more information about trust deeds in Scotland?

You can find information about trust deeds in Scotland online at the Trust Deeds Network website. Once on the website, you can learn how the service works and request the service online.