Does LLC protect from divorce?
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Does LLC protect from divorce?
Forming an LLC or corporation can help protect your business assets in case of divorce, especially if you incorporate before you get married. But it’s important to ensure that you don’t use marital assets to pay for company expenses. If you do, the court could determine that the company is actually marital property.
Is gift given by husband to wife taxable?
In other words, he can gift whatever he wants out of this post-tax income. His wife will, however, not be taxed on the receipt of a gift from her husband, who falls under the specified list of ‘relatives’ who are exempt under the Income Tax Act. The amount received by his wife as a gift will be tax-free in her hands.
Can I transfer my demat account to my wife?
Yes, you can transfer shares from any account to your account by giving off-market delivery instructions slip to holders DP. There are some minimum charges to transfer the shares.
Can you pay your wife a salary?
By paying your spouse a regular wage you can claim it as a tax deduction for your business, making it a great way to split your income. Yes, you’ll have to deal with the complexities of fringe benefits, but it could give you an income tax and GST benefit.
