Courts will only impute income when a parent voluntarily changes their job and/or income. Specifically, courts will impute income when a parent is voluntarily unemployed or voluntarily underemployed. How do you prove imputed income? You can prove this by producing the other parent’s tax returns, employment history, educational record orRead More →
Unrealized income or losses are recorded in an account called accumulated other comprehensive income, which is found in the owner’s equity section of the balance sheet. These represent gains and losses from changes in the value of assets or liabilities that have not yet been settled and recognized. How doRead More →
Unrealized income or losses are recorded in an account called accumulated other comprehensive income, which is found in the owner’s equity section of the balance sheet. These represent gains and losses from changes in the value of assets or liabilities that have not yet been settled and recognized. How doRead More →
GDP at Current Prices in the year 2020-21 is estimated to attain a level of ₹197.46 lakh crore, as against the First Revised Estimates of ₹203.51 lakh crore in 2019-20, showing a change of -3.0 percent as compared to 7.8 percent in 2019-20. What is the average income of IndiaRead More →
Metal Detecting for gold is classed as a hobby and not a business (i.e as in gold mining for a living or as a business) therefore it is not taxable. If finding the gold is run as a business then of course expenses for finding the gold would also beRead More →
Out of the three types of accounts in accounting, accrued income is a personal account and is shown on the asset side of a balance sheet. What is accrued income on balance sheet? What Is Accrued Revenue? Accrued revenue is revenue that has been earned by providing a good orRead More →