What is tip allocation?

Answer In restaurants or other business settings where employees receive tips for their services, the IRS (Internal Revenue Service) has a set of requirements for how this money must be reported or alloca... Read More »

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Allocation of Depreciation?

A firm's senior leadership implements depreciation and depreciation allocation procedures to ensure that financial reports are accurate and in line with accounting rules. These rules include Securi... Read More »

What Is a Typical ESOP Allocation?

Typical Employee Stock Ownership Plan (ESOP) allocation limits range anywhere from 8 to 10 percent of your pay, unless you are retired. In that case the allocation is usually around 4 percent.Refer... Read More »

What is the meaning of resource allocation?

The term "resource allocation" refers to the act of distributing available resources such as money, supplies or personnel among different groups. Generally, resource allocation occurs when the reso... Read More »

How to Modify a Separation Agreement on a Tax Dependency Allocation?

The typical marital separation agreement includes a provision allocating the dependency tax deduction when the couple involved in divorce proceedings have minor children. The ultimate consideration... Read More »