Employee Retention Credit: Non-Repayment The Employee Retention Credit (ERC) is a refundable tax credit designed to help businesses retain employees during the COVID-19 pandemic. The credit is available to businesses that experienced a decline in gross receipts due to the pandemic, and it can be used to offset payroll taxes. The ERC is not taxable, … Read more
Deciding whether to save or spend money depends on your goals and circumstances. If you have short-term financial needs, such as unexpected expenses or upcoming purchases, then setting aside a portion of your income for savings is crucial. This provides a financial cushion and reduces the burden of debt. On the other hand, if you … Read more
A holding deposit, often known as a reservation fee, acts as a temporary payment to secure a tenancy or rental agreement for a property. It functions as a pledge by the prospective tenant to reserve the property for a specific period, typically while their references and background checks are being verified. In the UK, the … Read more
Financial delegation is a framework that allows individuals to distribute financial responsibilities in their daily lives. It involves identifying tasks, granting authority, and monitoring progress. By dividing tasks, individuals can free up their time to focus on what is most important, optimize efficiency, and increase productivity. Financial delegation requires clear communication, setting expectations, and establishing … Read more
Analyzing different mutual funds involves examining their characteristics, performance, and underlying holdings. Investors assess the fund’s objectives, investment strategy, and risk tolerance to align with their financial goals. They evaluate the fund’s historical returns, volatility, and expense ratio to gauge its performance. Additionally, investors analyze the fund’s portfolio diversification, sector allocation, and top holdings to … Read more
Demand deposits, commonly known as checking accounts, are considered money due to their monetary characteristics. Unlike savings accounts, demand deposits can be easily accessed and used for transactions through writing checks, using debit cards, or making online payments. This feature of being withdrawable on demand makes them readily available as a means of exchange, which … Read more
Korey Wise, who was wrongly convicted of murder and imprisoned for 23 years, received a record-breaking $12 million settlement from the City of New York in 2023. The settlement, which was the largest of its kind for a wrongful conviction in New York history, included $9 million in direct payments to Wise and $3 million … Read more
Paparazzi Jewelry is a direct sales company that offers affordable jewelry and accessories. Representatives can earn money by selling products through home parties, online, or social media. They earn commissions on sales and can also build a team of downline representatives to earn additional income. To be successful with Paparazzi, it’s important to have strong … Read more
Electronic Benefits Transfer (EBT) cards, used to access government assistance programs like SNAP (Supplemental Nutrition Assistance Program), typically have monthly benefits that do not roll over to the next month if unused. However, some states may offer a grace period or allow a small amount of unused benefits to carry over for a limited time. … Read more
Definition of Gross Income Gross income refers to the total amount of income received by an individual before deducting any expenses, credits, or exemptions. It encompasses all forms of income, regardless of its legality or origin. Wages and salaries: Compensation received for work performed. Self-employment income: Income earned from running a business or providing services … Read more