The following information is for educational purposes only and please consult your financial adviser or financial planner for further details.
These were some of the questions that I wanted answers and I am glad that I found them.
1. Can I pay to rent to my father if he owns a house? Is it legal? Continue reading
Assets
In business and accounting, assets are everything of value that is owned by a person or company. It is a claim on the property your income of a borrower. The balance sheet of a firm records the monetary value of the assets owned by the firm. It is money and other valuables belonging to an individual or business. The two major asset classes are tangible assets and intangible assets. Continue reading
I was wondering why the employer has to hike his employee’s salary on a regular basis. Why can’t he just be paid the same amount all his life? Will that be such a big issue? Why does an employee need a salary hike year after year? If the employee is not paid any hike this year what would happen to him? I guess it is the economy that plays a dominant role in the salary hikes rather than the performance of an employee.
Salary hikes are given to the employees so that he has got enough spending power and he goes on spending money and thereby boosting the economy. A economy is said to be good only when people spend lavishly and the prices of the goods are in common man’s reach. It shows the sign of prosperity. Most of the companies today are laying off their employees as a measure of cost cutting. Continue reading
I am writing articles regarding taxes. I don’t preach others that it is bad to pay taxes or advice them not to pay taxes. I believe that Taxes have to be paid by the citizens for the welfare of the nation.
The only thing I want to emphasize is that, why does government gives tax break? It should serve some purpose right? I am certain that most of the rules does make sense even today which was formed way back before my birth. 🙂 Continue reading
This time of the year, most of my friends prefer to go and get Insurance policy just because they have to buy one so that they can save tax. I get calls from various Insurance agents to take up policies from January to March time frame and the prominent reason they give me to buy the policy is “Tax Benefit”. I am not very keen on taking a policy just because I get a tax break. I know that it does not work that way.
I don’t mind taking a insurance cover for the purpose of insurance rather than “Tax Benefit”. But the fact is that most of us prefer to take the policy thinking it will reduce our tax bracket. I have done that in the past. I have taken a policy and I do pay a yearly premium. I did not know much about tax at that time and for tax benefit I did take a policy only to learn that it does not make sense. Continue reading
Engineer's Finance 