See Also: Pension Plans Keogh Plan Credit Life Insurance 401k Individual Retirement Account (IRA) Revocable Trust Definition A revocable trust is an agreement between a grantor and trustee where it transfers profit generating assets to the trustee. However, the grantor is still able to generate income from the assets. The grantor is also able to
An S corporation (S-Corp), also called a subchapter S corporation, is a type of business organization that is structured like a corporation but taxed like a partnership. Find the applicable law in Chapter 1, Subchapter S, of the Internal Revenue Code. S-corps do not have to pay corporate income taxes. Instead, include the company’s profits
See Also: Proforma Invoice Proforma Invoice Example For example, Juan distributes products to and from Mexico. Juan’s business meets all legal specifications that would allow him to import his products into the United States. His company, a fleet of 18 wheel trucks, crosses the border several times each day. In an effort to make the
See Also: Proforma Earnings Proforma Financial Statements Credit Letter Balance of Payments Proforma Invoice Example Product Cost Proforma Invoice Definition Proforma invoice, defined as an invoice which is sent to a customer before they receive product, has more than one use. For customers it serves two main purposes. First, a proforma invoice allows customers to
See Also; What is a PEO? Advantages of Professional Employer Organizations How to Select a PEO PEO Compared to Outsourcing Payroll National Association of Professional Employer Organizations Professional Employer Organization FAQs | PEO FAQs Refer to the following Professional Employer Organization FAQs for more information about PEOs. What Kind of a Business Uses a Professional Employer
Partnership Definition A partnership is a type of business organization. Two or more individuals own and operate this business organization. These individuals are partners. Furthermore, it is unincorporated. Although it is not considered a legal entity separate from its owners, the details of this arrangement are stipulated in a contract. Call that contract a partnership
Nexus Overview “Nexus” is a connection between a state and a taxpayer, sufficient enough to allow the state to subject the taxpayer to its taxing jurisdiction and require the taxpayer to file tax returns and pay taxes. The concept is fairly straight forward, and easily understood, by companies doing business solely within the boundaries of
See Also: Progress Billing for a General Contractor Completed Contract Method Covenant Definition of a Bond Contract How to Maintain an Effective Job Schedule Accounting Cycle Maintenance Contract Definition A maintenance contract, defined as the contract between 2 parties which creates the agreement that one party will maintain an asset owned by another party, is
See Also: Blue Sky Laws Tips on How to Manage your Lawyer Steps to Track Money In and Out of a Company Accounting Asset Definition Indemnity Clause Definition The indemnity clause definition is the clause which compensates either party in a contract against loss. It is one of the most common ways for a party
See Also: Loan Agreement 5 C’s of Credit (5 C’s of Banking) Self-Liquidating Loans How important is personal credit in negotiating a commercial loan? Loan Origination Fee Term Deposit What is a Term Sheet? Preparing a Loan Package Loan Term Definition Loan term, defined as the period of time between when a loan is received
See Also: How important is personal credit in negotiating a commercial loan? Loan Agreement Loan Term 5 C’s of Credit (5 C’s of Banking) Mezzanine Debt Financing (Mezzanine Loans) Loan Origination Fee Definition The loan origination fee definition is a charge from a lender to a borrower usually for mortgage loans. The origination fee is usually
Loan Agreement Definition A loan is a debt instrument. One party lends assets, property, or money to another party in exchange for interest payments and the eventual return of the borrowed asset, property, or money. A loan agreement is usually drawn up in writing before any assets change hands between parties. Loan Term Explanation A
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