general
Are professional athletes considered self employed?
Q – Is every professional athlete an employee? These athletes are treated as self-employed taxpayers and ProSportsTax works with such individuals proactiv...
Apr 03, 2026 2 views
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General
Expert insights and detailed technical documentation about General.
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How can I invest if I make 200k?
5 Investment Options for High-Income Earners Backdoor Roth IRA. A backdoor Roth IRA is a convenient loophole that allows you to enjoy the tax advantages t...
Apr 03, 2026 2 views
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Is an owner of a corporation considered self-employed?
If you own and operate a corporation, however, you are not technically self-employed, but an owner-employee of the corporation. Freelancers fall under the...
Apr 03, 2026 2 views
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Is the generation-skipping tax still in effect?
How Much Is the Generation-Skipping Transfer Tax? In the past, the GSTT has been hefty, ranging from 35% to 55%. The current rate, which has been in effec...
Apr 03, 2026 2 views
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Is resigned the same as quit?
Quit is just an informal way of saying resign. Implies that the person may have left the job in an un professional manner. Resign is the formal way of say...
Apr 03, 2026 2 views
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Can anyone use your frequent flyer miles?
The airline doesn’t allow you to transfer your miles to someone else, but you can use them to book a flight for another passenger for free. You can also b...
Apr 03, 2026 2 views
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Should I let my girlfriend live rent free?
Yes, it’s reasonable, assuming she has some means to do so. If she doesn’t have a job, or income, then you might ask her to contribute to your shared life...
Apr 03, 2026 2 views
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Is pattern day trading legal?
Under FINRA rules, customers designated “pattern day traders” by their brokerage firms must have at least $25,000 in their accounts and can only trade in ...
Apr 03, 2026 2 views
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What happens to flat after lifetime?
Once a majority of them decides to demolish it, irrespective of the age of the building, each owner will have ownership of their UDS ( un-divided share ) ...
Apr 03, 2026 2 views
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What is the income threshold for parenting payment?
To get the full payment you and your partner must have a combined income of less than $300 each fortnight. This doesn’t include money your partner gets fr...
Apr 03, 2026 2 views
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Can you write off uncollected fees?
However, you cannot deduct or “write off” bad debts or other uncollected fees, because they incurred no out-of-pocket cost above your normal business expe...
Apr 03, 2026 2 views
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How do you record shareholders loans?
how to record shareholder loans (payable and receivable): Set up a new account in the chart of accounts called “shareholder loan”. If the funds have come ...
Apr 03, 2026 2 views
