If no interest or an unrealistic amount of interest is charged in a salve involving certain kinds of deferred payments, then the transaction will be treated as if the realistic rate of interest had been used. The difference between the realistic interest and the interest actually used is referred to as imputed interest.
Eliana Garces, CPA, joined the Saddle Brook office of RotenbergMeril on October 3rd as a Semi-Sr. Accountant in the Audit Department. She received her B.S. in Accounting from Montclair State University and is a licensed NJ CPA.
To endure is greater than to dare; to tire out the hostile fortune; to be daunted by no difficulty; to keep heart when all have lost it- who can say this is not greatness? –William Makepeace Thackeray
Taxpayers that are married may file a JOINT RETURN, therefore combining their INCOME and expenses. Individuals will be considered married if: 1. They are living as husband and wife; 2. They are recognized living as common law marriage; or 3. Legally married but separated and living apart but not legally divorced. Marriage is determined as…Details
Millennials display more confidence than members of any other generation in investing in U.S. and overseas markets and U.S. public companies, and in the reliability of audited financial information, a new survey shows. READ MORE NOWDetails
Please join us in welcoming the newest member of the RotenbergMeril family Thomas Butler, JD, CPA, joined RotenbergMeril as a Tax Director in the New York City office, on Monday, September 19th. Tom has over 30 years of tax experience gained with public accounting firms and in the private industry sector. He has provided tax…Details