Can Foreigners Own Companies In China? The answer is, “yes.” They can own companies by incorporating them in China. For example, a foreigner can incorpora...

Generally, life insurance proceeds you receive as a beneficiary due to the death of the insured person, aren’t includable in gross income and you don’t ha...

The U.S. has a progressive tax system, using marginal tax rates. Therefore, when an increase in income moves you into a higher tax bracket, you only pay t...

The ratification of the Sixteenth Amendment was the direct consequence of the Court’s 1895 decision in Pollock v. Farmers’ Loan & Trust Co. holding un...

Aksum’s access to both the Red Sea and the Upper Nile enabled its strong navy to profit in trade between various African (Nubia), Arabian (Yemen), and Ind...

For employees, the main downside to a Flexible Spending Account (FSA) can be the “use-it-or-lose-it” rule. If an employee doesn’t incur enough qualified e...

A defined-benefit plan is an employer-sponsored retirement plan where employee benefits are computed using a formula that considers several factors, such ...

A minister’s housing allowance (sometimes called a parsonage allowance or a rental allowance) is excludable from gross income for income tax purposes but ...

Legally, you need not give back any money that you had received as gift. Normally, nobody will ask back what is given as gift. However, if this person is ...

In general, China has had a positive balance of trade with its trading partners since 1990. Hong Kong became one of China’s major partners prior to its re...