Are C Corporation Liquidating Distributions Taxable?

Are C corporation liquidating distributions taxable? Liquidation is a taxable event for both the shareholder and the corporation. A corporation may liquidate by (a) paying off creditors and distributing the remaining assets in kind to the shareholders or (b) selling assets, paying off creditors, and distributing the remaining cash to the shareholders. Read more on … Read more

Towing a Car Without Keys: A Guide

How can you tow a car without keys? How to Tow a Car With No Keys Determine if car has front or rear wheel drive. Check your owner’s manual if you’re unsure. Install self-loading dollies. Place the dollies under the rear wheels if the car has rear wheel drive or the front wheels if the … Read more

Does an LLC have Shares?

Does a LLC have shares? LLCs do not have shareholders. They have members who share in the profits of the business. The members’ share of the profits is taxable as income. The LLC is a common form of business in the U.S. because its members are shielded from liability for its failure. Read more on … Read more

Do Groceries Have Tax? Answers to Common Tax Questions

Do groceries have tax? The supply of basic groceries, which includes most food and beverages marketed for human consumption, is zero-rated. However, certain categories of food and beverages such as candies and confectionery and granola products (unless sold as breakfast cereals) are taxable. Read more on www.canada.ca Many individuals are unsure if there is tax … Read more