What risk does a sole proprietor take when going into business?
Unlike a corporation, a sole proprietorship poses the risk of personal liability. There is no legal separation between personal and business assets, so if...
Published: Apr 17, 2026
How are settlements reported to the IRS?
If you receive a court settlement in a lawsuit, then the IRS requires that the payor send the receiving party an IRS Form 1099-MISC for taxable legal sett...
Published: Apr 17, 2026
What is the useful life of a generator?
Portable Generator Lifespan A portable gas generator used for residential emergency power last about 2,000 to 3,000 hours. While this is considerably less...
Published: Apr 17, 2026
Are disability pensions taxable in NY?
Is My Pension Taxable? Most NYSLRS pensions are subject to federal income tax (although some disability benefits are not taxable). NYSLRS pensions are not...
Published: Apr 17, 2026
What is Section 1239 property?
1239(a) provides that “in the case of a sale or exchange of property, directly or indirectly, between related persons, any gain recognized to the transfer...
Published: Apr 17, 2026
How do I get the most out of my home insurance claim?
Six steps homeowners should be prepared to take before and after filing a claim: Carefully review coverage. Take photos and video. Document the damage. Ma...
Published: Apr 17, 2026
Should I remove a decommissioned oil tank?
Having your industrial tank properly decommissioned prevents the need for further environmental measures. Decommissioned tanks do not necessarily have to ...
Published: Apr 17, 2026
Who may use completed contract method?
Completed Contract Method Except for home construction contracts, CCM can only be used by small contractors for contracts with an estimated life that does...
Published: Apr 17, 2026
Can an employer deduct pay for lost equipment?
You may break or lose a piece of equipment, damage some merchandise, or have your cash drawer come up short. Can your employer charge you for these losses...
Published: Apr 17, 2026
How do I talk to a representative at FTB?
California Franchise Tax Board Customer Support Phone is 1-800-852-5711. Live customer service representatives from California FTB are available from 8am ...
Published: Apr 17, 2026
