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What else can I help you with?
What are examples of capital income?
1. Sale of property 2. Sale of Shares 3. Sale of boat or ship 4. Sale of expensive painting 5. Sale of your share of a business
Do you have to pay tax on a even trade?
Do I pay sales tax on even trade? a motocycle for a boat same value in Massachusetts .
Explain the tax form ST-109?
Idaho Form ST-109 is Boat Registration Sales Tax Affidavit. Anyone transferring or obtaining a new boat registration is required to file Form ST-109. The form verifies to the Idaho State Tax Commission that sales tax is owed and paid or not owed and not payable because the boat was purchased out-of-state and sales tax already was paid to an out-of-state dealer. For more information, call the Commission at 1-800-972-7660 or (208) 334-7660. Visit their website at tax.idaho.gov.
What is difference between income tax and wealth taX?
Wealth is what you have in the bank and assets you can sell (house, car, boat, stocks, bonds, ...) Income is what your employer gives you (or you take out of your own company)
Should you pay a charge off that is listed on your credit report?
If you legitimately owe the debt, you should pay it, regardless of the statute of limitations or any adverse affect of it being on your credit report. A debt is a debt, and you have a moral obligation to repay it if it is legitimate and you are able to do so. Check and see what you statute of limitations are in your state--you might have 2 yrs or you might have 15 yrs, depending on the state and type of debt. If the statute of limitations has passed, you still owe the debt, but the creditor cannot take any course of action against you (credit reporting, litigation, garnishment, etc.). http://www.creditinfocenter.com/rebuild/statuteLimitations.shtml#2 If you are still withing the SOL, it would be best to pay off the charge off as it could be turned into a judgment, that then will allow for a garnishment of your wages or a lien on property. Lots of things can happen and not all will be pretty. Best to pay and avoid the bad. Good Luck. Only if the charge off would be removed within the next 2 years. If this is the case then it is best to wait and let it fall off on it's own. A charge off will remain on a credit report for 7 years regardless if it is paid or not, if paid it should reflect the action in the entry. The creditor can if they so choose file a lawsuit against the debtor in the circuit court in the county where the debtor resides. If the creditor wins the suit (they always do) a judgment will be entered against the debtor. The judgment can then be executed in accordance with the laws of the debtor's state of residence. The preferred methods for enforcing a judgment are wage garnishment or bank account levy. Other alternatives, liquidation of non exempt property (bonds, stocks, etc.) seizure and sale of non exempt property (vehicle, boat, motorcycle, jewelry, etc.) or lien against real property. Real property not protected by a homestead exemption can be subject to a forced sale.
Can boats be considered personal property?
Yes, boats can be considered personal property as they are tangible assets owned by individuals or entities. Like cars or homes, boats can be bought, sold, and modified, and they typically require registration and insurance. Ownership of a boat grants the owner certain rights and responsibilities, including maintenance and compliance with maritime laws.
Can repo company repossess a boat while it is on a trailer that is not in the repossession order?
Yes. The trailer is considered personal property, much like that rod and real you left in the boat, or the motor that was not part of the loan. You will be permitted to claim your personal property for thirty days after the boat is repossessed. You will be charged for the storage of it though.
What is a non-performing asset?
My understanding of "nonperforming assets", any asset that you have accumulated that cannot be used in your business. For example: If I am the franchise owner of McDonald's, my deep fryer that I use to make the fries would be considered an asset. It is an asset that I use in my business. The building itself is also a performing asset. So those would be examples of performing assets. Non-performing example: I am the franchise owner of McDonald's and I purchase a piece of property to block another restaurant from being in a location that possibly would negatively affect my business. This purchase has a purpose, but is not performing within my business. Possibly another example would be if I purchase a Corvette (Car or boat) for my own use, but purchased it through my business, that also would be a non-performing asset.
Is a jet ski or boat considered recreational vehicle?
It is considered a vessel( boat ).
Is a boat mooring real property?
My reference is the National Census and the IRS. Living on a boat will classify you as homeless. This leads one to believe that a mooring are 'not' real property.
How do you find a lien on a boat in Ontario?
Personal Property Registration Centre in TorontoYou check the person owning the boat for liens not the boat.
Can they come on your property and repo your boat for 359 Dollars?
They certainly can. Actually, it is not your boat until it is paid for--in full.
Can you be sent to jail for an uncollected debt?
Generally, uncollected debt can be attached to a lien on your personal property - a home, car, boat - anything of tangible value. Once a person sells an item that has a lien attached, the $$ that are owed to the debtor will be paid FIRST and you will receive the remainder if anything is left over.
If you own a 25 percent undivided interest in waterfront property and you build a boat slip to park your boat are all owners equally entitled to use your slip?
Yes. When several people own property as tenants in common they each have the equal right to the use and possession of the property. A boat slip would become part of the real property if it's attached to the land.
Is the sale of a fishing boat taxable if you reinvest the proceeds in buying another fishing boat?
Provided you paid for the orginal boat with post tax dollars, and the boat was not used in a business which declared the boat as an asset of the business, there is no tax. If the boat was used in the operation of a business, and was part of the assets, you must declare the sale on your business taxes. Otherwise there is no taxes.
What is considered a yacht?
The term "yacht" is used to designate a pleasure boat as opposed to a working boat. It can be used in reference to a power boat or a sail boat.
What kinds of sponsorship activities is Aberdeen Asset Management involved in?
Aberdeen Asset Management is involved in activities that deal with private and corporate investing. They sponsor local sports such as boat racing and the Scottish highland games.
