Are there any mercantile law questions asked more than once?
University of Santo Tomas Faculty of Civil Law MERCANTILE LAW Questions Asked More Than Once (QuAMTO 2018) *QUAMTO is a compilation of past bar questions with answers as suggested by UPLC and other distinct luminaries in the academe, and updated by the UST Academics Committee to fit for the 2017 Bar Exams.
When do the new tax brackets go into effect?
For instance, new tax brackets take effect on January 1 of next year, as will the new standard deductions. But not all of them do. Changes to tax deductions for alimony payments, for instance, will kick in for divorces that happen after December 31, 2018. And the penalty for not having health insurance will be eliminated in 2019.
When to seek extension of time for PT construction?
One week before the expiration solidary. Being solidary, the claims against of the six (6) month period, PT Construction them can be pursued separately from and Corp. requested for an extension of time to independently of the rehabilitation case. (MWSS deliver claiming that the delay was due to v.
Can you still deduct property taxes on your taxes?
Homeowners should also know that taxpayers may no longer be able to deduct all state and local property taxes plus income or sales taxes. Instead, the legislation allows individuals to deduct up to $10,000 in property taxes and state and local income or sales taxes.
When is a dwelling considered to be a residence?
A dwelling is considered a residence if it’s used for personal purposes during the tax year for more than the greater of 14 days or 10 percent of the total days rented to others at a fair rental value.
What are the facts about renting out residential property?
To help taxpayers avoid a sweat at tax time, the IRS wants taxpayers to know the facts about reporting rental income. Residential rental property can include a single house, apartment, condominium, mobile home, vacation home or similar property.
Can a taxpayer use more than one rental property?
Residential rental property can include a single house, apartment, condominium, mobile home, vacation home or similar property. These properties are often referred to as dwellings. Taxpayers renting property can use more than one dwelling as a residence during the year.
How long does it take to depreciate a rental property?
The Tax Cuts and Jobs Act changed the alternative depreciation system recovery period for residential rental property from 40 years to 30 years. Under the new law, a real property trade or business electing out of the interest deduction limit must use the alternative depreciation system to depreciate any of its residential rental property.