What is vacation pay? What are limited and unlimited liabilities? What is meant by full employment? What does PTO mean? Unlimited liability means What does per diem mean? What is personal time off? Define 'in perpetuity' What is a discretionary leave policy?
Vacation homes Hunting cabins Investment property Homes under construction Landlords with four or fewer tenants What is DP-1 insurance? What is DP-2 insurance? DP-2 covers the dwelling, other structures and personal property for different perils listed in the policy. It covers more types of losse...
In double-entry bookkeeping, expenses are recorded as a debit to an income statement account (expense account), and a credit to either an asset account or a liability account –the balance sheet accounts. An expense increases liabilities and decreases assets. Like bananas and fruits, all expense...
Renter’s liability X X ✔ Homeowner’s personal property ✔ X* X Renter’s personal property X X ✔ Loss of income for rental property X ✔ X *A landlord policy will cover property that the homeowner owns, as long as it’s furnished for the tenant’s use. However, it is esse...
An accrued expense is a liability account that recognizes past expenses not billed or paid yet. Accrued expenses don’t represent the exact amount due in the future, but only a close estimate. You can only record accrued expenses when using the accrual basis of accounting. With the cash basis...
You have the opportunity to take out loans without personal liability. And, the public perception of LLCs is that they are trustworthy. Lim Wan ErAuthor Always game for a good cup of iced latte and soggy fries, Lim Wan Er indulges in a solo vacation at least once a year for the sole...
Uses: Home equity loans can be used for a variety of purposes like home improvements, debt consolidation, education expenses, or even a dream vacation. Before diving into a home equity loan, you may want to understand the risks involved, assess your financial situation, and consider your borrow...
Niche insurance is a type of specialized insurance that covers an uncommon type of business, when that business faces a risk of...
You might consider travel insurance if you can't afford to cancel and then rebook an expensive or long trip. You might also consider travel health insurance if your health insurance doesn't cover international costs. An alternative is to book an easily cancellable vacation—look for a pay-later...
It is primarily for self-employed people and others who have no access to a 401(k), but anyone with earned income can invest in an IRA. The money you save in an IRA is deducted from your income for the year, lowering your taxable income and, therefore, your tax liability. The ...