Prsi and income tax are two different things. Prsi is a payroll tax that is deducted from your wages before you receive them. It is used to fund social welfare benefits such as pensions, unemployment benefits, and maternity leave. Income tax, on the other hand, is a tax that is paid on your income after … Read more
To update your tax table in MYOB, begin by opening the Payroll command centre and selecting Update Payroll. Choose the Tax Tables tab and click on Update Tax Tables. Select the relevant pay schedule and click Next. Review the available updates and select the ones you want to implement. Click Next again and confirm the … Read more
Transferring funds between your Standard Chartered Bank accounts is simple. Log in to your online or mobile banking platform. Select the “Transfer” or “Send Money” option. Choose the account you want to transfer funds from. Select the account you want to transfer funds to. Enter the amount you want to transfer. Review the details and … Read more
Private tutors are self-employed individuals who provide educational services directly to students. As such, they are responsible for paying taxes on their income. The specific tax obligations of private tutors vary depending on their location and the structure of their business. In some jurisdictions, private tutors may be required to register their business and file … Read more
Inheritances can come with a hefty tax bill for beneficiaries. The amount of tax owed depends on several factors, including the value of the inheritance, the relationship between the beneficiary and the deceased, and the laws of the state where the deceased resided. Generally, spouses and children are exempt from paying taxes on inheritances, but … Read more
You can access your Alaska State Retirement System (ASRS) funds in several ways, including through withdrawals. There are different withdrawal options available, and the specific requirements and procedures can vary depending on factors such as your age, years of service, and the type of withdrawal you want to make. To initiate a withdrawal, you typically … Read more
Administrative assistants are often seen as entry-level positions with limited opportunities for advancement. However, this is not always the case. While it is true that some administrative assistants may remain in their roles for many years, others use their experience to move into more senior positions. With the right skills and experience, administrative assistants can … Read more
The Federal Deposit Insurance Corporation (FDIC) is a government agency that insures deposits at FDIC-member banks up to $250,000. If the FDIC runs out of money, it would not be able to cover all of the deposits at failed banks. This could lead to a loss of confidence in the banking system, which could cause … Read more
Settlements received in court cases can have tax implications. In general, the tax treatment of a settlement depends on the nature of the underlying claim. If the settlement is for lost income, it is typically taxable as income. If it is for personal injury or physical damages, it is generally not taxable. However, if the … Read more
Diversifying investments is a key strategy to reduce risk and potentially enhance returns. It involves spreading your investments over different asset classes, such as stocks, bonds, real estate, or commodities. This helps to balance your portfolio and reduce the impact of any single asset class underperforming. When one asset class struggles, others may perform well, … Read more