Liability

In general, product liability claims arise from real or alleged defects linked to the design, manufacturing, labelling, warnings and warranties, packaging, storage, transportation and handling of your products and usually cite safety claims, manufacturing quality, spoilage and indemnity costs. Damages awarded in such claims, depending on the jurisdiction where you are in, can include medical costs

Fontella Harper and Beverly Kaisk were neighbors in a public housing project. Apparently, Kaisk had problems living next door to an African American family, and let them know about it, frequently and offensively. Harper complained to building management, who took no corrective action. Kaisk's lease included a provision requiring tenants to conduct themselves in a manner that "will not disturb

Parents usually feel responsible when their children do bad things - a sense of shortcoming or failure when children make bad choices or carelessly cause harm to another. However, whether parents can be held legally liable for the acts of their children is not commonly known. The answer, not surprisingly, is sometimes “yes” [...]

A Virginia limited liability company is the most common legal entity for small business. This is because it offers the most benefits over other legal entity structures. Understand the three major benefits so you can ensure you take advantage of them. Limiting Liability Protection Entrepreneurship is one of the best paths to financial freedom in the [...]

Having more than three hundreds contacts in MSN is definitely a distraction. They will not have time to chat with even five percent of the contacts each week and most of the contacts who message them simply are seeking helps from them.This may be manageable during school days when there are fewer commitments; however, is so unhealthy when users start to venture into the working society, with unful

Business Liability InsuranceIn the US, and best of the blow of the world, it's accurate - there are TWO altered kinds of accountability - personal, and business. "Public" is a misnomer - accessible can be either personal, or business. Or maybe it's aloof a UK way to say 'business'. But, you CANNOT amalgamate the two. The appraisement base and coverages are WILDLY divergent. Business accountability

Business Liability InsurancePublic liability insurance is important because all business are at risk to some degree. Even if nothing bad has ever happened on your business premises, that's no guarantee that it won't someday. If someone is hurt, or their property lost, it's your responsibility to properly compensate them. This cost can be extremely high, depending on the individual case. Fortunatel

Self-employed individuals need to make liability insurance a priority in the twenty-first century. Today more than ever, individuals and corporations are eager to file even the most frivolous lawsuit against business owners they hold liable. The following article offers some general advice for protecting yourself, your assets, and your family [...]

Seven weeks ago, I got a new puppy. I was thinking of a way to protect myself from Florida's Strict Liability for Dog Bites. Most states have a one free bite rule, but Florida does not and makes the owner...

Business liability InsuranceWhen was the last time you bought a faulty product? When was the last time received faulty and unfinished service by a business? Do you know of any cases where a company got sued because of faulty products and services? Those are a few questions that everyone can easily answer, because chances are it has happened to everyone at least once.Businesses and corporations nor

The income tax which is charged to you is based on the tax slabs declared by the Government in its annual budget every year. The following table encapsulates the tax slabs applicable this year. (Financial Year 2008-2009 ) Taxable Income Slab Tax Slab Upto Rs. 1,50,000 Up to Rs. 1,80,000 (for women) Up to Rs. 2,25,000 (for residents, 65 years or above) N

In San Jose, California a federal jury awarded the family of Robert Heston, Jr. $6 million after the man died due in part to being repeatedly tasered by police. Taser International of Scottsdale, Arizona the maker of the taser guns were found to be responsible in the death of Heston. According to the jury, Taser International [...]

HOW DELIGHTFUL Bill Clinton would be a huge liability to the Nobama campaign Jimmy Z My my my, how things have changed in a relatively short span of time. Bill and Hillary’s astounding fall from grace is something to see, isn’t it? Like all useful idiots, the Clintons are little more than the latest Cindy Sheehan.  It took a lot longer for this to happen than it did for Cin

I co-signed a business ( sole prop ) loan. Am I liable if the borrower declares bankruptcy ? Can the Bank or anyone else come after me ? Can the Bank or anyone else come after me ? Thanks a million for your input……. Posted from: Ontario

When calculating your net worth, do you include your car as an asset? What value do you assign to it and what about all the running and insurance costs?According to accounting definitions, a car can only be classified as an asset if its current value is greater than what you owe on it (car loan). The other reason a car can be classified as an asset is that anything you own that can be sold for cas

As reports detailing the potential toxicity of bisphenol A (BPA) continue to make headlines, companies that use the chemical to manufacture polycarbonate bottles are finding themselves in an increasingly difficult position. While the Food and Drug Administration states that “at this time, FDA is not recommending that anyone discontinue using products that contain BPA while we [...]

The research report “Asset and Liability Management :A Synthesis of New Methodologies ” provides the….. A reference title on the ongoing synthesis of traditional techniques and financial risk management.Summary :Examines the scope of the asset and liability management function New research on a range of topics including data warehousing and credit risk models     Table of

A new bill in Alabama would require drivers to increase the required amount of liability insurance for their vehicles. Until now, drivers in Alabama have been required to carry the following liability amounts: $20,000 for a single injury or death, $40,000 for multiple injuries or deaths, and $10,000 for property damage.

The U.S. District Court in New Hampshire recently issued a written opinion that undoubtedly will give some Internet service providers reason to re-think their policies with regard to some anonymous user accounts. In Doe v. Friendfinder Network, Inc., the plaintiff...

From Michelle Malkin Are you ready for hope and change? Barack Obama better hope his bitter half has a change of attitude if she expects to assume the title of first lady in November. She’s been likened to John F. Kennedy’s wife, what with her chic suits and pearls and perfectly coiffed helmet hair. But when [...]

Prearranged a option that we have to decide debt or free life, there’s none who will go for debt merely because it’s taxing. But, still it is a actuality and there are people who get debt. The simplest motive behind says that some of us can not poise ourselves while spending. We obtain numerous [...]

New York businesses should review a recent decision by the Court of Appeals expanding the scope of liability under New York Labor Law section 240(1). In Sanatass v. Consolidated Investing Company, Inc., 2008 WL 1817261 (N.Y. 2008), a divided court...

The California Supreme Court has given additional protections to manufacturers faced with products liability suits. Following the lead of other state and federal courts, California courts will now apply the “sophisticated user” doctrine. Under this doctrine, a manufacturer cannot be...

Prearranged a option that we have to decide debt or free life, there’s none who will go for debt merely because it’s taxing. But, still it is a actuality and there are people who get debt. The simplest motive behind says that some of us can not poise ourselves while spending. We obtain numerous [...]

Construction Scheduling: Preparation, Liability, and Claims (Construction Law Library) (Paperback)By Jon M. Wickwire 1 used and new from $57.24 Customer Rating: First tagged “construction” by Surety Insider Customer tags: construction, claims, contracting, [...]

If your site allows visitors to post digital files or comments (e.g. in an online blog, as well as in a forum or chat room), you could be held liable for copyright infringement if any of their postings infringe the rights of another person, even if you are unaware of the infringement. Under general copyright [...]

Knowledge of accounts can make life much easy. If you are to invest in a new business or joining your forefather’s business, planning to take some loan, looking for job in any marketing company, desire to be the manager of a multinational company or have the onus to manage your own assets and liabilities, knowing some basics of accounts becomes mandatory. Broadly, accounting is bifurcated into

If you are a first-time driver, locating reasonable auto insurance can be one of the major challenges after the initial purchase of your car. There is no shortage of car insurance companies standing ready to offer you competitive rates as well as different kinds of insurance policies. There are two types that are [...]

At some point, you have probably heard of umbrella insurance, but have no idea what it is. Well, first off, it does not cover the umbrella you protect yourself from the rain. It is a figure of speech. An umbrella policy is designed to shield you from almost everything that your home and auto insurance [...]

digg_url = '-insurance-is-liability-only-coverage-like-living-on-the-edge/'; I was late for work today, I can’t blame it on my alarm or on traffic, but on a thief because…   …my car was stolen!  Can you believe that?  One minute I had a reliable car – albeit, not as easy on the eyes as it used to be, but it never let us down!  I can’t [...]

digg_url = '-insurance-is-liability-only-coverage-like-living-on-the-edge/'; I was late for work today, I can’t blame it on my alarm or on traffic, but on a thief because…   …my car was stolen!  Can you believe that?  One minute I had a reliable car – albeit, not as easy on the eyes as it used to be, but it never let us down!  I can’t [...]

Jackson v. City of Columbus, decided today by the Ohio Supreme Court, illustrates the importance of being thorough in all internal investigations of employee misconduct, and only disclosing the results of such investigations on a need to know basis. The Mayor of Columbus asked his Columbus Public Safety Director, Thomas Rice, to conduct an internal investigation of his Police Chief, James Jackson, on allegations of police corruption. In June 1997, Rice presented his report of the investigation to the Mayor and released it to the public. In the report was a statement attributed to Keith Lamar Jones, an inmate at the Chillicothe Correctional Institution, which alleged that Jackson had impregnated a juvenile prostitute. A polygraph conducted during the interview of Jones concluded that he w

A Bad Credit Mortgage Broker Can Turn You from a Walking Liability to a Sound Investment by Rony Walker Who does not fear risk? We all do, especially when it involves money. While risk is an inherent part of business, a good businessman chooses risks wisely. This is especially true in the mortgage industry which is [...]

Overruling a number of decisions by intermediate appellate courts, a divided California Supreme Court has rejected the notion that an employment discrimination plaintiff may file claims against individual defendants for retaliation. The decision in Jones v. The Lodge at Torrey...

The amount of insurance you will need will always be determined to late, once you have an accident. To try to understand how to protect yourself, you first need to know what your liability insurance will cover. It is always broken up in two parts bodily injury and property damage liability. Bodily injury liability covers injuries do to a car accident. 1. Initial aid 2. Medical bills due to injuries 3. Restitution for lost salary 4. Funeral expenses 5. Legal counsel costs Property damage liability covers the damages to objects that are caused from an automobile accident. 1. Structural damage to homes, storefronts, etc. 2. Repair or replacement costs for other stationary objects 3. Vehicle repair or replacement costs So, what coverage limit are right for you? Every state compiles there minim

Smart Buyers Collection is a collection of words of wisdom by various Singapore property watchers.By: AnonymousPosted: 30-12-2007Government has already started to supply more HDBs and ECs to the market. They have also given more sites for private housing development. The price has gone too high and I am sure there are many who can't support the loan when their apartments are ready. The buyers are hearing more news and they now do their math before buying. The banks also do their assessment before they approve the loan. There are condos that have their TOP and units are still available. They Singaporean income has not changed much and the dreams of owning a private apartment will be put aside now that they have woken up. Many of the foreign companies will be laying off staffs next year espe

Liability CoverageThere are a number of coverage’s that fall under the category of liability coverage including Bodily Injury, Property Damage, Uninsured Motorist Bodily Injury, Underinsured Motorist, Uninsured Motorist Property Damage, Personal Injury Protection and Medical Payments. Some of these coverage’s vary by state.Bodily Injury is third party coverage. This means it provides protection for claims due to injuries to a passenger in your vehicle (other than you or a family member) or passengers in another vehicle, or pedestrians. It provides you, the owner/operator of a motor vehicle, with protection for your legal liability due to the ownership, maintenance or use of your RV. It is very important to select a limit that is high enough to protect your assets. You may be responsibl

A couple of days ago John Grant pointed out the rather disappointing results of sites that you sign up to and commit to reduce your carbon footprint. He suggested that the reason why ‘carbon diets’ have been less successful than food diets is that no-one can see how fat you are, and suggested some sort [...]

I am scheduled to speak on Monday in Washington DC regarding what companies outsourcing their product manufacturing must do to protect themselves from bad/dangerous China product. The conference is being put on by Lexis/Nexis and based on the people speaking (present company excluded, of course), I am confident it will be a great conference. The website lists the following benefits, among others, from attending: • Learn how to write arbitration clauses that stand up in China and other foreign countries • Get the inside story on the current products recalled—who is being sued and who is at risk • Receive a briefing on how to properly handle a product recall from the media to suppliers • Examine recent foreign arbitration awards and how to get them enforced • Find out how lead exposure affects children from a leading toxicologist • Listen in on a roundtable by counsel doing business in foreign jurisdictions • Discover how arbitration works in the Internatio

Are you one of the million of Britons famous the world over for being a pet owner and lover? If so, do you have pet insurance? If not, you may well want to read on if you want to save yourself millions of pounds….Let’s look at two, not uncommon, scenarios that may happen to a pet owner in the UK:Scenario 1:You own a dog. The dog is out in the garden. The post comes to the house to deliver a letter. In the course of delivering the letter your dog bites the postman.Scenario 2:You own a horse. The horse is grazing in the field. The horse is startled, jumps the hedge and crashes into an oncoming car.Do you know what would happen in both of these scenarios? Well, if you don’t already know, as you may recall from the recent famous case involving Princess Anne, in Scenario 1 you could be liable to pay damages under the Dangerous Dogs Act. Less well known, in Scenario 2 you could be liable to pay damages under a recent House of Lords interpretation to the Animal Act 1971. Either way,

Many people are surprised to learn that the LLC business entity is a fairly recent phenomenon. Wyoming was the first state to legislate the creation of LLCs in 1977. Most states didn’t jump on the LLC bandwagon until 1988 when the IRS classified the LLC as a pass through entity for tax purposes. This [...]

The legal test for negligence — which would absolve an outdoor equipment provider of liability in a personal injury case — is “not perfection but rather to design a product so as to eliminate any unreasonable risk of foreseeable injury,” the Ontario Superior Court ruled in Enslev v. Challenges Unlimited Inc. And although an outdoor swing designer might have foreseen operator error during the use of the product, the consequences of the operator error nevertheless could not have been predicted, the court found. The decision upheld a waiver of liability contained in a signed contract between a Cleveland House (a Muskoka resort) and Challenges Unlimited, an outdoor equipment supplier. via

What happens when you have a rogue or even out of control employee that uses an office computer to send or even post threats of great bodily harm or uses an office computer to generate other highly offensive communications? Can an employer who ends up being sued for such conduct assert a defense of immunity under the provisions of the Communications Decency Act of 1996 (CDA), 47 U.S.C. 230. This particular federal law defense of immunity actually does preempt inconsistent state law that might otherwise impose liability in certain circumstances. The Act immunizes "provider[s]... of an interactive computer service" (the employer) where "another information content provider" (the employee) has initiated the offending activity.While the facts considered recently by a California Court of Appeal in Delfino v. Agilent Technologies, Inc. (2006) 145 Cal.App.4th 790 are unquestionably extreme and will not likely be encountered in garden-variety employment situations, the CDA immunity defense cou

By: Christine HarrellEach week, roughly 17 people are murdered while on the job and 33,000 more are assaulted. This adds up to big liability for companies, not to mention tremendous heartache and pain. This high level of violence stems from on-the-job stress and increasing economic pressure. Your due diligence as an employer will not only protect the employees you value so much, but pay off in court should you ever find yourself in the unfortunate situation of having to defend your business practices in a case of negligence. Here you'll find some brief guidelines for identifying risk factors and preventing workplace violence.Risk Factor: High stress work environments Stressful environments alone are a risk factor for workplace violence. According to a survey by Northwestern National Life, 25% of employees view their jobs as the primary source of stress in their lives. When people feel trapped under pressure, they are more likely to react violently.Prevention: Stress related violence t

Hey Folks, I have taken great pains (4 post) to set the stage for what I am going to share with you today. I did it not to “fill in” posts but I sincerely feel that to really appreciate what I am going to say in this post, you need to understand the real situation. So take some time to read them before you continue with this post: Understanding The “Boss” Mentality Understanding The Effects Of Globalization And Outsourcing Understanding The Effects Of The New Economy On Our Salary Misconceptions of Key Performance Indicators, Promotions and Pay Increments Summary Of Prior Post “We live in an era where the economy dictates that companies pay their employees what they are worth and that worth is determined by how much a company is willing to pay as cost of the products or services they produce. Anytime the an employee ceases to produce the value they were paid for, the company would be forced to reevaluate the need for that employee.” Who’s Considered

Hey Folks, After a short detour to talk about blogging, we are back again on “Using Law of Attraction At Work“. What Is Next There are literally thousands of good articles out there talking about how you can improve your work efficiency, work smarter, etc. So I won’t rewrite similar articles that I think you can find (I’ll trackback to them and share them with you on our positive article post - Every Tuesdays). What I will be covering instead is to let you understand what makes you an asset or a liability to your company! I have been debating with myself for a couple of weeks now on whether I should cover this topic. I have been hesitating as it is a heavy (read “serious and dry”) topic and I am not sure if you would fall asleep reading them . But I have made up my mind to write them as I believe it is of benefit to all of you who are employees. Topics To Be Covered To make them readable and not too boring, I’ll break them down into shorter p

This week has led me to question Arsene Wenger somewhat on two fronts.  These being: his tactical substitutions and his refusal to give up on certain players.  Jens Lehmann has dropped two clangers in two league games.  Against Fulham the players bailed him out but were not able to repeat the trick today.  They were not simple errors, but down right horrible clangers.  Last Sunday a simple pass caused him to lose co-ordination and today a shot straight at him somehow made him punch it behind him and into the top corner.  The problem with Lehmann is it seems like he is becoming more of a liability as time goes on.  We all know about him problems at set pieces.  He has trouble coming through a crowd to collect a ball without trying to knock half these people and this creates doubt and uncertainty, which often leads to the opposing team grabbing a goal. So what has this got to do with Wenger? Well, surely Lehmann should be dropped.  Maybe one can excuse one error at the very sta

Alice asks: If someone has all their money in joint or POD/TOD bank accounts and dies, I know that the money is not subject to probate, but if estate taxes are due, how does the IRS get it? It seems to me that the IRS is entitled to get it even though the money passes directly, but I'm not sure of the mechanics, and would love an explanation. I would also think that if there were other assets in

Alice asks: If someone has all their money in joint or POD/TOD bank accounts and dies, I know that the money is not subject to probate, but if estate taxes are due, how does the IRS get it? It seems to me that the IRS is entitled to get it even though the money passes directly, but I'm not sure of the mechanics, and would love an explanation. I would also think that if there were other assets in

What Are The Auto Liability Insurance State Minimums For My State?By Tim GormanAs you shop online for the best auto insurance deals you may begin to ask yourself what exactly is required by law when it comes to auto insurance. Fortunately this article outlines the auto liability insurance state minimums that you are required to have in order to legally drive in the United States. No matter what state you drive in all of them have financial responsibility laws and require motorists to purchase minimum amounts of auto liability insurance except for Tennessee, Wisconsin and New Hampshire.Many websites and advocates of insurance (to include myself) recommend having a minimum of $100,000 for bodily injury protection per person and at least $300,000 for property damage costs and physical injury costs. The main reason for this is due to the increased amount of money needed to rectify an accident is usually more then what the states declare as the minimum amount of insurance coverage needed

What Are The Auto Liability Insurance State Minimums For My State?By Tim GormanAs you shop online for the best auto insurance deals you may begin to ask yourself what exactly is required by law when it comes to auto insurance. Fortunately this article outlines the auto liability insurance state minimums that you are required to have in order to legally drive in the United States. No matter what state you drive in all of them have financial responsibility laws and require motorists to purchase minimum amounts of auto liability insurance except for Tennessee, Wisconsin and New Hampshire.Many websites and advocates of insurance (to include myself) recommend having a minimum of $100,000 for bodily injury protection per person and at least $300,000 for property damage costs and physical injury costs. The main reason for this is due to the increased amount of money needed to rectify an accident is usually more then what the states declare as the minimum amount of insurance coverage needed

Play Video A Hidden Tax Liability That Even the IRS Might Not Know About? Bloomberg-Clip - (BLOOM-Clip) Jul. 05, 2007. 12:00 PM EST Analysis and Discussion with Doug Daschille of First Principles Capital: Borrowers Facing Huge Hidden Taxes This IS Really important for EVERY homeowner that has refinanced their home and pull out some cash. The IRS is stating that only the dollar value that you purchased your home for can be deducted. As an example, you bought your home in 2000 for $200,000. In 2006 you refinanced after years of appreciation for $300,000. The IRS states that only the interest from the original $200,000 mortgage can be ducted on your tax returns and the $100,000 additional “cash out” is not deductible. Please consult with your accountant and tax specialists. Remember, this is not new, however, it appears that this may be the next focus for the IRS because of the massive refinance boom and all the equity that was pulled out. Adjustable

Did you know that at least 50 percent of all holiday traffic fatalities are alcohol related? In fact, that is why December is designated National Drunk and Drugged Driving Prevention Month. Definitely a sobering thought if you are hosting or attending a holiday party this year!Another thought that just might have you rethinking your company's "open bar" policy is that if an employee or guest leaves your party drunk and gets into an accident, your company could be liable - even if that person may have went to another party or to a bar after leaving your party. If you don't think your company can be found liable - think again! Most states have some form of "social host" laws in place, specifically targeting employer-hosted events.Why so much focus on company hosted parties? Many courts feel that employees have a greater obligation to attend company gatherings, as opposed to social gatherings hosted by friends or family members. Kind of makes you reconsider having that "attendance manda

A novel situation has presented itself in recent court decisions. In 2004, the New York Court of Appeals ruled in favor of granting a new type of remedy, “reverse piercing.” Piercing the corporate veil is a fancy way of saying that the shareholders of an entity are personally liable for the debts and liabilities of that entity. This means that if the entity does not have enough money to pay all debts and liabilities, creditors came attack a shareholder’s personal holdings.Reverse piercing is different. In a reverse piercing situation, an entity is held liable for the debts and liabilities of its shareholders. This is an amazing theory because the whole point of a limited liability entity is to protect the personal assets of its shareholders and vice versa. In other words, the shareholders and the business are two completely separate entities. However, many of the factors used by the court to determine whether an entity should be pierced are used in determining whether a re

When I am making payment of Rent & Maintenance Charges to two person for the one residential house taken on lease .For First break up I am making payment of Rs. 9000 Per month as rent of property and in Second One I am making payment of Rs 9000 Per month towards maintenance charges for furniture & fixtures.Please kindly advice whether both payments will be clubbed for considering limit of Rs. 120000 u/s 194 I singhal_dev2006@rediffmail.comWhat the provision u/s 194I requires is that a person if makes payment to another person for the rent, he/she/it has to deduct the tax , if the payment is above Rs 1,20,000. The provision u/s 194I does not distinguish between different types of renting , but simple word "Rent" is used and then Rent is explained in Explanation . The emphasis is on the payer and payee.The provision u/s 194I is given as under:"194-I. Any person, not being an individual or a Hindu undivided family, who is responsible for paying to a resident any income by way of rent

As it's a relatively quiet day on the racing front I thought I'd write a little post about the difference between laying to a liability and to a fixed profit. I lay to a fixed profit as I've looked at both ways and it's quite a lot more profitable for me to lay to a fixed profit. If anyone is wondering what the difference might be, I'd definitely recommend doing some research of past results to find out. I think it depends quite highly on your strike rate and average winning lay. For example, if someone has a strike rate around 60% then I'd say laying to a fixed liability would be more profitable.Laying to fixed liability simply means you enter how much you're willing to lose if the horse wins. An example would be a horse at 5/1 and the maximum you want to lose is 100 pounds, you'll win 20 pounds if it loses and lose 100 if it wins. A lot of people favour this method as you can lay slightly bigger priced horses without fear of losing a big percentage of your bank. But the flip

Scenario: An employee is being harassed and subjected to a very hostile work environment due to the behavior of the employee’s supervisor. The behavior of the supervisor is so egregious that everyone knows what’s going on. The supervisor openly humiliates the employee in front of other staff, has been seen shoving and encroaching on the personal space of the employee, has falsely and

Importing is one of the more complex forms of product sourcing. Any time you import goods, you’re legally responsibility for ensuring that they comply with all U.S. Customs regulations. That sole fact scares away many would-be importers. But steering clear of importing, while it allows you to avoid any liability issues, also means you’re missing [...]

Importing is one of the more complex forms of product sourcing. Any time you import goods, you’re legally responsibility for ensuring that they comply with all U.S. Customs regulations. That sole fact scares away many would-be importers. But steering clear of importing, while it allows you to avoid any liability issues, also means you’re missing [...]

CAN MEMBERS OF THE FAMILY TRANSFER MONEY TO HUF WITHOUTANY TAX LIABILITY TO HUF?CAN MY MOTHER / MOTHER IN LAWGIVE A GIFT TO MY HUF ACCOUNT? From: spinamdar@.....comIf relatives ,as deifned in Explanation below Section 56[2][v],transfer money to HUF , the same shall not be taxable in the hand sof HUfas per Section 56[2][v] of the I T Act.However,the income generated out of such assets given in Gift ,is without consideration,therefore shall be added to the income of the individual who gifted such an asset as per section 64[2][a]and [b] of the I T Act.Sub -Section 2 of Section 64 states " Where, in the case of an individual being a member of a Hindu undivided family, any property having been the separate property of the individual has, at any time after the 31st day of December,1969, been converted by the individual into property belonging to the family through the act of impressing such separate property with the character of property belonging to the family or throwing it 73[into the

Length: Less than one pageKeywords: Wealth management,financial adviceThough I'm desperately missing a high end multi media device to capture image, listen music and for other entertainment activities, I'm repeatedly suppressing my temptations to buy a high end mobile phone with camera and music player. While I can afford to buy a 20K gadget, what's preventing me from spending money is the concept of Asset vs. Liability.What is asset and what is a liability?Understanding this concept of Asset and Liability is the primary need for any wealth management strategy. You should be able to differentiate what is an asset and what is a liability and focus on building asset first.Any investment/spending, which, over a period of time pays for itself and starts generating additional value are assets. On the other hand, if you need to keep spending again and again on an object, it is a liability.For example, a house is a liability if it is unoccupied and you keep spending on it in for tax, ma

Advanced TopicAn assessee had been allowed sales tax claim u/s 43B pursuant to a scheme of the state government whereby the government had converted his sales tax liability into a loan. The CBDT had issued two circulars---No.496 in 1987 and 674 in 1993---to provide that in cases where incentives were granted to an assessee by way of sales tax deferment, payment of ST will be deemed to have been made and no dis allowance will be made u/s43B.The assessee had been allowed such a deduction in A Y 1994-95, when his unpaid ST was converted into a loan.The loan instalment was due to be paid before31.03.2006, but it was not paid even before 31.10.2006, the due date for filing return of income.Now the AO seeks to disallow this amount of loan instalment treating it as part of sales tax.My understanding is that once the amount of unpaid ST was converted into a loan, it ceased to be an expense altogether. How can it acquire the colour of sales tax again? Isn't the AO violating the CBDT circulars

At some point, you have probably heard of umbrella insurance, but have no idea what it is. Well, first off, it does not cover the umbrella you protect yourself from the rain. It is a figure of speech. An umbrella policy is designed to shield you from almost everything that your home and auto insurance [...]

If you are a first-time driver, locating reasonable auto insurance can be one of the major challenges after the initial purchase of your car. There is no shortage of car insurance companies standing ready to offer you competitive rates as well as different kinds of insurance policies. There are two types that are [...]

Daytona Beach, Florida (CaymanMama.com) -- It is the duty of the manufacturer to spell out the details of the product, its effects, after effects, terms of use etc to the consumers. But if, the details are misrepresented or the consumers are misled than the manufacturer is at fault. The consumer’s ...