If you are receiving an important amount of money and you are concerned that the gift might cost you some taxes, do not worry, the gift tax applies to the giver. The Internal Revenue Service (IRS) defines a gift as: “Any transfer to an individual, either directly or indirectly, where
When you are sending or receiving a money order, the Western Union service provides many options to track the transfer and let you know if it has been sent, in process, available to collect or already cashed. The main thing that facilitates this process is the MTCN (Money Transfer Control
Within the business and accounting world, there is a universe of concepts that resemble each other, but all of them have a different and important function. Among these concepts, there is the “Additional paid-in capital,” a fundamental part of the financial system of any company. However, sometimes it is difficult
When creating a company, keep in mind that you will have to pay taxes. For this reason, the Internal Revenue Service (IRS) assigns each company a tax identification number that helps to differentiate it; the main two are the Federal tax ID number and the State tax ID number. They
If you have a Visa gift card, it is an excellent option for shopping online. Generally, these cards are given as a gift, and you can use them in any online store such as a Visa debit or credit card. The difference is that the gift card has a limited
Macy’s is a department store in the United States of America, founded in 1829 by businessman Rowland Hussey Macy. Its headquarters in New York City have been the largest store in the world for almost a century; it also operates in popular and influential areas of 45 states of the
Nowadays, wire transfers are considered one of the fastest and safest ways to send money to another person. Plenty of people still use checks and deposits, but wire transfers have grown in popularity for how simple they are. There are numerous apps and online portals to transfer money like PayPal,
Nowadays, thanks to technology, we can make electronic payments using credit or debit cards. Plenty of people use these methods daily because they are an easy way to obtain products and services. However, the Federal Reserve System estimates that over 15 billion checks were issued last year, proving that they
Most banks, upon receipt of a court order, will immediately freeze any of the accounts in which the debtor is the owner or co-owner. It does not matter if you have arguments or complaints; until the embargo is lifted, you will not be able to use your accounts. The bank
There are several situations where you need to transfer money to someone else’s bank account: to pay for an online purchase, to send money to your son in college, to pay your debts, and so on. Formerly, we would have paid with cash, but right now, this is an easier