question_id stringlengths 1 5 | question stringlengths 14 158 | pos_item_ids listlengths 1 23 | pos_item_contents listlengths 1 23 |
|---|---|---|---|
1188 | How to start investing for an immigrant? | [
"526664",
"538238"
] | [
"\"For starting with zero knowledge you certainly did a great job on research as you hit on most of the important points with your question. It seems like you have already saved up around six months of expenses in savings so it is a great time to look into investing. The hardest part of your question is actually o... |
1189 | Why is tax being paid on my salary multiple times? | [
"476980",
"420846"
] | [
"Businesses do not pay income tax on money that they pay out as salary to their employees. Businesses generally only pay income tax on profit. Profit is the money that comes in (revenue) minus the business expenses. Payroll to the employees is a deductible business expense.",
"\"Your wages are an expense to you... |
1190 | Credit card fee and taxes | [
"354716"
] | [
"Credit card fees on a credit card used for personal expenses are not tax deductible. Credit card fees on a business credit card are deductible on schedule C (or whatever form you're using to report business income and expenses). If you are using the same card for both business and personal ... well, for starters, ... |
1191 | What corporation tax am I required to pay as an independent contractor? | [
"519473"
] | [
"\"The difference between the provincial/territorial low and high corporate income tax rates is clear if you read through the page you linked: Lower rate The lower rate applies to the income eligible for the federal small business deduction. One component of the small business deduction is the business limit. S... |
1194 | Tax implications of corporate housing | [
"300418"
] | [
"If the employer provides housing to the employee, the employer has to identify whether it is taxable or not. If it is - the amounts would be added to the taxable income on your W2. All the withholding and FICA tax calculations will be performed based on that taxable income. If the employer fails to do that, and yo... |
1196 | What risks are there acting as a broker between PayPal and electronic bank transfers? | [
"400947",
"263659",
"335435",
"374049",
"445314",
"408027",
"420436"
] | [
"This sounds like a scam. Did they email you out of the blue to offer you this 'job', by any chance, and you'd never heard of them before? That's an incredibly large red flag in and of itself. While I don't know quite what the scam is likely to be, here's how I would suggest it might work: Other variants are possib... |
1197 | Setting up general ledger/tax reporting for a Real Estate Rental LLC in GnuCash | [
"365689",
"242923"
] | [
"No, GnuCash doesn't specifically provide a partner cash basis report/function. However, GnuCash reports are fairly easy to write. If the data was readily available in your accounts it shouldn't be too hard to create a cash basis report. The account setup is so flexible, you might actually be able to create account... |
1199 | Get tax deduction for expensive car expense | [
"88967"
] | [
"Unless you own a business and the car is used in that business you can't write off your auto repairs. If you start a sole-proprietorship in your own name there are all sorts of things you can write off as long as there is a reasonable expectation of profit. This includes a portion of your car repairs, a portion of... |
12 | Does U.S. tax code call for small business owners to count business purchases as personal income? | [
"192516",
"338700",
"158738"
] | [
"\"I am going to keep things very simple and explain the common-sense reason why the accountant is right: Also, my sister in law owns a small restaurant, where they claim their accountant informed them of the same thing, where a portion of their business purchases had to be counted as taxable personal income. In th... |
1204 | What is the relationship between the earnings of a company and its stock price? | [
"144079",
"481978",
"540911"
] | [
"In general over the longer term this is true, as a company whom continuously increases earnings year after year will generally continue to increase its share price year after year. However, many times when a company announces increased earning and profits, the share price can actually go down in the short term. Th... |
1210 | Company Payment Card | [
"297467",
"256006"
] | [
"Most corporate policies strictly prohibit the card's use for personal use, even if the intent is to re-pay in full, on or before the due date. I'm certain it has something to do with limitation of liability, i.e. the monetary risk the company is willing to put itself at, in order to offer a corporate card program... |
1215 | US Foreign-Owned LLC that owes no income tax - Do I have to file anything? | [
"338096"
] | [
"\"If you intend to do business \"\"outside the country\"\", why establish an LLC \"\"here\"\" at all? You should establish a business in your home country if you desire business organization for sequestering liabilities or something. With or without a business organization, you will presumably be taxed for domes... |
1224 | Calculating the cost of waiting longer for money | [
"94630",
"76049"
] | [
"This looks correct to me, for simple interest. If you are dealing with compound interest, the formula would be: So, A = 500000(1+0.036/365)^(30), or 501,481.57, or an interest of 1481.57, assuming the 3.6% is the annual nominal interest rate and it is compounded daily. Note that you are ignoring the depreciation a... |
1232 | Friend was brainwashed by MLM-/ponzi investment scam. What can I do? | [
"482594",
"380773",
"575007",
"529265",
"106167",
"590632",
"450779",
"99465",
"325633",
"440019",
"95952",
"424274",
"127339",
"281823"
] | [
"Go to the police. This is fraud and is illegal. Sure, this will hurt your friend but better now then when he starts abusing of his position to fraud even more people... Original comment by Bakuriu sorry for not giving credit",
"\"If this is your friend, and he that convinced he will \"\"get rich\"\" from this th... |
1244 | How to handle capital gains on a Virginia Individual Income Tax Return | [
"205229"
] | [
"In Virginia the maximum tax rate on income is 5.75% which is the same as the capital gains rate. http://www.tax.virginia.gov/income-tax-calculator"
] |
1246 | How to invest with a low net worth | [
"193850",
"329450",
"160922",
"402230"
] | [
"\"You most definitely can invest such an amount profitably, but it makes it even more important to avoid fees, um, at all costs, because fees tend to have a fixed component that will be much worse for you than for someone investing €200k. So: Edit: The above assumes that you actually want to invest in the long ru... |
1248 | Income and taxes with subcontracting? | [
"182989"
] | [
"Since you say 1099, I'll assume it's in the US. :) Think of your consulting operation as a small business. Businesses are only taxed on their profits, not their revenues. So you should only be paying tax on the $700 in the example you gave. Note, though, that you need to be sure the IRS thinks you're a small busin... |
1249 | How can I get a wholesaler ID number? | [
"386818",
"471327",
"203820"
] | [
"This is a state by state thing, and I'm cheating because I know you are in New York State:",
"Seems like it's more dependent on who you want to be your supplier. The times I've been involved in requesting this, each company had its own application form. They usually need proof of business activity, which gets ... |
1253 | Start a Holding Company? | [
"454465"
] | [
"If you are trying to invest in closely held / private companies (things that don't trade on the stock market), you will run into a variety of regulatory problems. For various reasons, most private companies only raise funds with accredited investors. To be an accredited investor you basically have to have $1,000,0... |
1258 | Can you depreciate assets differently between Federal, State, and Local? | [
"397367"
] | [
"In general, you most definitely can. In some cases you must. However for each State you'll have to check whether you can choose how to depreciate. Many States require you to take the same depreciation as on the Federal schedule, including Sec. 179, others won't allow Sec. 179 at all. Specifically to PA, I haven't ... |
1264 | The best credit card for people who pay their balance off every month | [
"479426",
"226831",
"63276",
"94710",
"25205",
"418771"
] | [
"BillShrink.com lets you compare credit cards based on all your specifics (miles vs. cash, where you shop the most, etc) and tells you what the best card is for your specific habits. MOD EDIT Looks like billshrink.com is shut down. From their site: Dear BillShrink customer, As you may have heard, BillShrink.com w... |
1265 | Personal Asset Protection - How to protect asset against a deficiency judgement? | [
"585722",
"343379"
] | [
"You should talk to a bankruptcy attorney local to you. While bankruptcy laws are federal, there are a variety of local rules. As an example in CA, I've heard of a trustee going after a debtor's IRA account. Retirement accounts are generally off limits, but not always. Additionally, structuring your assets for t... |
1266 | How should I handle taxes for Minecraft server donations? | [
"439460",
"451020",
"196374"
] | [
"\"Technically, this is considered \"\"income\"\" for you, and is actually not considered a \"\"donation\"\" for your donors, but is instead a \"\"gift\"\" (not tax-deductible for your donors). So, you are technically required to report it, and there is a pretty significant audit trail that can be followed to prove... |
1267 | Can travel expenses be deducted from Form 1040A if they were used to gather material for a book? | [
"153377"
] | [
"\"Hobby expenses are not tax deductible. Business expenses are, but only if it's a bona fide business. First they look at profitability: if you reported a net profit (i.e. paid taxes) in your first 3 years, they will believe you rant on Youtube for a living. Remember, by the time they get around to auditing yo... |
1271 | How much taxes do corporations have to pay on dividends they receive from other companies? | [
"307688"
] | [
"\"Summary: The corporation pays 33.3% tax on dividends it receives and gets a tax refund at the same rate when it pays dividends out. According to http://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TaxRates/Federal-and-Provincial-Territorial-Tax-Rates-for-Income-Earned-CCPC-2015-Dec-31.pdf the corpor... |
1272 | How to select a bank based on availability in two areas? | [
"567161"
] | [
"Asking a bank for which ATM/branch network it belongs to and where those networks are would be your best bet."
] |
1273 | Can I default on my private student loans if I was an international student? | [
"383238",
"304179",
"325371"
] | [
"What are the consequences if I ignore the emails? If you ignore the emails they will try harder to collect the money from you until they give up. Unlike what some other people here say, defaulting on a loan is NOT a crime and is NOT the same as stealing. There is a large number of reasons that can make someone una... |
1274 | What are my options to make my money work for me? | [
"591909"
] | [
"As stated in the comments, Index Funds are the way to go. Stocks have the best return on investment, if you can stomach the volatility, and the diversification index funds bring you is unbeatable, while keeping costs low. You don't need an Individual Savings Account (UK), 401(k) (US) or similar, though they would... |
1275 | What are the contents of fixed annuities? | [
"537930",
"30250",
"140533"
] | [
"\"An annuity is a contract. Its contents are \"\"a contractual obligation from the issuing company\"\". If you want to evaluate how your annuity is likely to fare, you're essentially asking whether or not its issuer will honor its contract. They're legally required to honor the contract, unless they go bankrupt. (... |
1277 | How to determine whether 1099-MISC income is from self-employment? | [
"547941"
] | [
"\"These kinds of questions can be rather tricky. I've struggled with this sort of thing in the past when I had income from a hobby, and I wanted to ensure that it was indeed \"\"hobby income\"\" and I didn't need to call it \"\"self-employment\"\". Here are a few resources from the IRS: There's a lot of overlap am... |
1278 | Why do 10 year-old luxury cars lose so much value? | [
"385474",
"229964",
"160198",
"514939",
"171565",
"498666",
"146298",
"539287",
"332916"
] | [
"\"They are overpriced to begin with. One reason is the fact that they are luxury cars. A second, related reason, is that they tend to push the technology envelope. All cars depreciate drastically the minute they are driven off the lot. This a good argument for buying a car that is 1-2 years old. The higher y... |
1279 | Automatic Extension online filing request gets denied w/ code R0000-052-01 - why? | [
"595121"
] | [
"There are penalties for failure to file and penalties for failure to pay tax. The penalties for both are based on the amount of tax due. So you would owe % penalties of zero, otherwise meaning no penalties at all. The IRS on late 1040 penalties: Here are eight important points about penalties for filing or payin... |
1280 | How to handle missing W2 from failed direct deposit only company? | [
"156662"
] | [
"Yes, there's a way. I actually wrote a blog post about it. Its a new service from the IRS which allows you pulling your account online. IRS also has an instruction page just for this case here."
] |
1282 | When a publicly traded company splits into two how are common shares fairly valued, distributed? | [
"74560"
] | [
"How are shareholders sure to receive a fair percentage of each company? At the time the split occurs, each investor owns the same proportion of each new company that they owned in the first. What the investor does with it after that (selling one, for example) is irrelevant from a fairness perspective. Suppose co... |
1283 | VAT and duties payable when importing personal goods from Switzerland and the Channel Islands to the EU? | [
"189391"
] | [
"\"http://www.hmrc.gov.uk/customs/tax-and-duty.htm#3 explains the Import VAT situation quite well. As for who enforces and collects it, if you're talking about buying online and having it shipped to you then you'll notice on the parcel a Customs sticker declaring the contents and value. It is the responsibility of... |
1285 | When is the right time to buy a car and/or a house? | [
"117685",
"92504",
"415973",
"522723"
] | [
"Buy a house when you can, but keep driving your current car until it dies. In ten years' time, a house should be worth more than you paid for it, while a new car will be worth next to nothing. And research shows that buying possessions like cars doesn't actually make you happier, even though you think it will.",
... |
1289 | When to register for a bank account for a C-Corp with no official money | [
"384192"
] | [
"Technically, it's only when you need to pass money through. However consider that the length the account has been open builds history with the financial institution, so I'd open ASAP. Longer history with the bank can help with getting approved for things like business credit lines, business cards, and other perks,... |
1291 | S-Corp partnership startup. How to pay owners with minimal profit? | [
"260848",
"260385",
"458079"
] | [
"\"If you're really interested in the long-term success of your business, and you can get by in your personal finances without taking anything from the business for the time being, then don't. There is no \"\"legal requirement\"\" to pay yourself a prevailing wage if doing so would put the company out of business... |
1293 | When are payroll taxes due in the US? | [
"32280"
] | [
"It depends on the size of the payroll, not on the number of employees. Probably you need to file Form 941 quarterly under this scenario. You may or may not need to deposit taxes more frequently. If you must deposit, then you need to do it electronically. I excerpted this from the instructions for Form 941: If y... |
1295 | Risks associated with investing in dividend paying stocks for short term income. Alternatives? | [
"559671",
"254783",
"313248"
] | [
"Your back of the envelope calculation shows an income of about 5.5% per year, which is much better than a bank. The risk of course is that in a few years when you want to sell the stock, the price may not be at the level you want. The question is what are you giving up with this plan. You have 80K in cash, will cu... |
1296 | Can I negotiate a credit card settlement by stopping payments? | [
"79220",
"475270",
"481810"
] | [
"\"This would be on your credit for ~8 years. If it goes according to your plan, it will take 6 months to a year to do the settlement by getting behind enough to let it go to collections and then settling. The write-off will then be on your credit record for 7 years before it \"\"falls off\"\". Your cash out re... |
1298 | Assessing risk, and Identifying scams in Alternative Investments | [
"323145",
"507739"
] | [
"\"I have personally invested $5,000 in a YieldStreet offering (a loan being used by a company looking to expand a ridesharing fleet), and would certainly recommend taking a closer look if they fit your investment goals and risk profile. (Here's a more detailed review I wrote on my website.) YieldStreet is among a ... |
1299 | Safe method of paying for a Gym Membership? | [
"458750",
"514969",
"443896",
"360011",
"573677",
"485984",
"453915"
] | [
"\"Shady isn't quite the right word. They know that most of their customers are going to quit soon after they begin -- as in \"\"before the end of January\"\" -- so they lock you in while you're motivated. And of course they're going to make it difficult for you to quit. No choice but to read their contract, unde... |
13 | How can I register a UK business without providing a business address? | [
"503678"
] | [
"You don't have to provide your personal home address per se. You can provide a legal address where Companies house can send across paper correspondence to. Companies house legally requires an address because directors are liable to their shareholders(even if you are the only shareholder) and to stop them from disa... |
1300 | How do cashier's checks work and why are they good for scams? | [
"598834",
"171489"
] | [
"\"There are two different issues at play here, and they are completely separate from each other: A bank or cashier's check is \"\"safer\"\" than a regular personal or business check because it avoids problem #1. Problem #2 exists with all kinds of paper checks. I assume the reason the warnings are about cashier's ... |
1301 | Repairs to a house in order to rent it that were paid by the beneficiary, but is still owned by a Trust | [
"522619"
] | [
"\"The Trustee has allowed me to act as his \"\"agent\"\", continuing to pay bills, and take care of much of the administrative affairs for my mother's estate since I did all of it for years before she passed away. I was not paid for any of this work. ... The expenses were more than $30K last year, and there ... |
1302 | Economics of buy-to-let (investment) flats | [
"347198",
"539208",
"327177",
"481194"
] | [
"Surely the yield should be Yield = (Rent - Costs) / Downpayment ? As you want the yield relative to your capital not to the property value. As for the opportunity cost part you could look at the risk free rate of return you could obtain, either through government bonds or bank accounts with some sort of government... |
1303 | Work as a contractor for my current employer rather than become a full time employee after my graduation for health insurance continued coverage | [
"566041"
] | [
"There are several assumptions you made, that don't match the current laws: Costs: COBRA:"
] |
1304 | fastest way to move USD to EUR | [
"60446"
] | [
"You're asking three different things: What is the fastest way, what is the cheapest way and what is the easiest way. You will not find one method that is all three at once. The fastest way is a wire transfer. The cheapest way that I've encountered is a foreign exchange service like XE. The easiest way is probab... |
1305 | How to minimize damage from sale of savings account | [
"584419"
] | [
"\"Bank of America has been selling off their local branches to smaller banks in recent years. Here are a few news stories related to this: Along with the branch buildings, the local customers' savings and checking accounts are sold to the new bank. It is interesting that you were told that your savings account i... |
1307 | Old Cancelled Cards | [
"70724",
"162589"
] | [
"\"FICO 08, a newer fico formula that many lenders are simultaneously switching to now, ignores artificially lengthened credit history/score by piggybacking. So don't feel left out in that regard. Average age of accounts is affected when closed accounts fall off your credit report, which can take 7 years, not just... |
1308 | How to avoid tax when taking a windfall in small chunks? | [
"257703",
"239769"
] | [
"\"How can I avoid this, so we are taxed as if we are making the $60k/yr that we want to receive? You can't. In the US the income is taxed when received, not when used. If you receive 1M this year, taking out 60K doesn't mean the other 940K \"\"weren't received\"\". They were, and are taxable. Create a pension fun... |
1311 | Reconciling transactions reimbursing myself for expenses as self-employed (UK) | [
"71987",
"256972"
] | [
"\"For anyone that's curious, I had a number of chats with Quickbooks who recommended I import only the relevant business transactions from my personal account & personal credit card in order to lower the tax liability. This way money \"\"paid\"\" from the business account to myself rightly shows up as a transfer a... |
1312 | Is being a landlord a good idea? Is there a lot of risk? | [
"560195",
"503742",
"167896",
"383921",
"528206",
"422331"
] | [
"\"Risk is the capital you have staked in pursuit of profit. The danger is that you lose what you have risked. For some bets (risks), you can get insurance to cover for losses. Now the \"\"game\"\" of Landlord and Tenant requires you to play fully by the rules set forth by your legislators. In your case, that is ... |
1313 | Are account holders with a bank better able to receive a loan from that bank? | [
"536497"
] | [
"\"Banks are businesses, and as such should have the right to refuse service, so they should probably be able to choose one customer over another at will. [I say \"\"should\"\" because business owners protecting themselves against litigation related to discrimination could restrict their freedom as business owner... |
1315 | What is your effective tax rate if you work from home in Montreal for a company in Toronto? | [
"252273",
"193251"
] | [
"Assuming that you don't own the business, it would seem to apply. The CRA says: If you were a resident of Quebec on December 31, 2016, and you did not have a business with a permanent establishment outside Quebec, your refundable Quebec abatement is 16.5% of the basic federal tax on line 55 of Schedule 1. If you h... |
1318 | Germany: Employee and Entrepreneur at same time (for getting AppStore payments) | [
"588211",
"423639"
] | [
"\"(Selling apps is AFAIK business, not freelancing - unless the type of app you produce is considered a freelancing subject. The tax office will give you a questionnaire and then decide). As Einzelunternehmer, you can receive the payments for the apps to the same account where your wages go. However, there are lo... |
1323 | A friend wants to use my account for a wire transfer. Is this a scam or is it legitimate? | [
"475497",
"124860",
"41094",
"237607",
"149482",
"5836",
"442625",
"60688"
] | [
"\"This is another version of an old scam -- \"\"let me have a check deposited in your account because I can't open one for some reason, and I'll share some of the money with you.\"\" Here the scammer is promising to \"\"start a business\"\" with you as a way to gain your confidence and trust. The first danger sig... |
1324 | Avoid Capital Gains on Rental | [
"256010",
"398206",
"108433",
"477851",
"416787"
] | [
"Don't let the tax tail wag the investment dog. There is risk in exchanging this (known) property for another (unknown) property. That risk may be more than $9000 worth of risk. Tax considerations are important, but most important is that your investments make money. If you intend to continue as a landlord, you had... |
1327 | Official Bank Check | [
"528661",
"501230"
] | [
"The legal department at the Bank left me a message telling me that the bank check was paid & the recipient got the funds. Call up the bank and find out who the recipient was. Generally it can only be cashed by the person whose name is on it - the original business partner to whom it was intended. It is unlikely to... |
1328 | Economics: negative consumer sentiment following failure to upsell | [
"115561"
] | [
"There are several different participants in the transaction, and you may not be aware of all the issues: In some business (fast food) they are required to ask if you want to super size, they are expected to do this at every transaction, but aren't paid more if you buy more. The employee can also decide that too mu... |
1329 | Investing in a offshore bank account | [
"62966"
] | [
"when investing in index funds Index fund as the name suggests invests in the same proportion of the stocks that make up the index. You can choose a Index Fund that tracks NYSE or S&P etc. You cannot select individual companies. Generally these are passively managed, i.e. just follow the index composition via autom... |
1330 | Should I finance rental property or own outright? | [
"241136",
"87324"
] | [
"To answer some parts of the question which are answerable as-is: Yes, mortgage interest is deductible. So is depreciation. See this question and others. It would be a good idea to put some money away for tax season, just as you should save some money to cover unexpected property expenses. But as @JoeTaxpayer says,... |
1332 | How to start personal finances? | [
"85368",
"147163",
"344236",
"361741"
] | [
"I'm assuming you're in Germany or Europe based on your question, but here's an American's perspective that should pertain you you as well: Once you have a steady income and an emergency fund large enough to keep you from going bankrupt, then start learning about retirement and investment options.",
"Personal fin... |
1337 | What options exist to make money in the US on a work-restricted visa? | [
"245011",
"132371"
] | [
"\"Income generated from online sales is not considered \"\"passive income\"\", so you need to be authorized to work in the U.S. Those without work authorization can acquire passive income (through investments, lending, competition/contest earnings, etc.) In order to sell products on eBay (the description you've gi... |
1339 | Is threatening to close the account a good way to negotiate with the bank? | [
"546779",
"226751",
"371192",
"20432",
"496272"
] | [
"If this matters to you a lot, I agree you should leave. My primary bank account raised chequing account and transaction fees. I left. When I was closing my account the teller asked for the reason (they needed to fill out a form) and I explained it was the monthly fees. Eventually, if a bank gets enough of these, t... |
1342 | How to keep control of shared expenses inside marriage? | [
"176424",
"297391",
"47923",
"336387",
"241708",
"140067"
] | [
"\"JoeTaxpayer's answer mentions using a third \"\"house\"\" account. In my comment on his answer, I mentioned that you could simply use a bookkeeping account to track this instead of the overhead of an extra real bank account. Here's the detail of what I think will work for you. If you use a tool like gnucash (pro... |
1347 | Is it usual for a tradesperson not to charge VAT? | [
"439109"
] | [
"Assuming this to be in the UK, and I suspect the rules are similar elsewhere, this indeed may be true. There is a threshold beneath which a business does not have to register for VAT - currently a turnover of £81,000. A non VAT registered business does not charge VAT but also cannot reclaim the VAT on their busin... |
1352 | What tax year does my income get assigned to if my client sends the payment in December but I receive it in January? | [
"57557"
] | [
"Confused? see your CPA"
] |
1353 | Does being on the board of a bankruptcy-declaring company affect my credit rating? | [
"576185"
] | [
"The answer to your question is governed by the structure of the company and your ownership or lack thereof in the business. Australian business can be structured the same way U.S. ones are, as a sole proprietorship, partnership, LLC, or company. If you are only on the board and have no equity, you cannot be affe... |
1358 | Prize Money, Taxes and Foreign / International Students | [
"386481"
] | [
"The committee folks told us Did they also give you advice on your medication? Maybe if they told you to take this medicine or that you'd do that? What is it with people taking tax advice from random people? The committee told you that one person should take income belonging to others because they don't know how to... |
1359 | What factors go into choosing residency? | [
"98079"
] | [
"A couple of thoughts. Tax benefits are the usual reasons to decide on one residency or another. International tax law is complex, and it's probably best to consult a professional. Certainly without knowing which the other country is I would not want to hazard a guess. If he is really not going to be taxed on the o... |
1360 | Back of Check Images are Blank and not Endorsed | [
"439540"
] | [
"\"In general, a lack of endorsement (meaning nothing written by the receiver on the back of the check) is equivalent to it being endorsed \"\"as deposit only\"\" to a bank that the depositor has an account with. (See Uniform Commercial Code §4-205.) That is, the bank that receives a deposit without any endorsement... |
1361 | UK Limited Company paying third party medical costs | [
"432545",
"120438"
] | [
"According to HMRC's manual BIM42105, you can't deduct expenses of this kind when calculating your profits for corporation tax: No deduction is allowed for expenditure not incurred wholly and exclusively for trade purposes So at the least, the company will have to pay corporation tax on this donation at some point,... |
1362 | State tax issues for NJ resident with DC tax withheld, and likely refunded | [
"236612"
] | [
"If you already filed the DC return, you can try and wait with filing the NJ return until you get the answer from DC. You can file an extension request with the NJ division of taxation here. Or, you can file without claiming the credit, and worst case amend later and claim it if DC refuse to refund. I find it high... |
1363 | U.S. nonresident alien: Is my state tax refund taxable? | [
"216892"
] | [
"Federal income tax refunds received during 2016 are not taxable income for 2016 (or any other year) on either the Federal or the State tax return. The State income tax refund for 2015 received during 2016 is not taxable income on the State tax return for 2016. It is taxable income on the Federal tax return for 201... |
1365 | Roth IRA - Vanguard or Fidelity? If a college student had to pick one? | [
"373501",
"138505"
] | [
"The minimum at Schwab to open an IRA is $1000. Why don't you check the two you listed to see what their minimum opening balance is? If you plan to go with ETFs, you want to ask them what their commission is for a minimum trade. In Is investing in an ETF generally your best option after establishing a Roth IRA? sh... |
1366 | Insurance, healthcare provider, apparent abuse, lack of transparency | [
"82140",
"95559"
] | [
"\"Just as with any other service provider - vote with your wallet. Do not go back to that doctor's office, and make sure they know why. It's unheard of that a service provider will not disclose the anticipated charges ahead of time. A service provider saying \"\"we won't tell you how much we charge\"\" is a huge r... |
1367 | Is it safer to send credit card number via unsecured website form or by e-mail? What safer options are there? | [
"284173",
"18373",
"184924",
"119513",
"463829"
] | [
"Buy a prepaid gift card, such as a MasterCard or Visa gift card. You can find them at the grocery store, a pharmacy, or your local bank. Provide this on their online form. If anyone steals your gift card information, you will have already used the funds for your purchase and there is no further risk to you.",
"S... |
1368 | As a shareholder, what are the pros and cons of a Share Consolidation and Return of Capital? | [
"153383"
] | [
"\"The basic theoretical reason for a company to return money to shareholders is that the company doesn't need the money for its own purposes (e.g. investment or working capital). So instead of the company just keeping it in the bank, it hands it back so that shareholders can do what they think fit, e.g. investing ... |
1369 | Does this sound like a great idea regarding being a landlord and starting a real estate empire? | [
"334391",
"501973",
"307117",
"585797",
"244405",
"448759",
"520763",
"562336"
] | [
"The idea you present is not uncommon, many have tried it before. It would be a great step to find landlords in your area and talk to them about lessons learned. It might cost you a lunch or cup of coffee but it could be the best investment you make. rent it out for a small profit (hopefully make around 3 - 5k a ... |
1371 | Pros/cons of drawing income in retirement from sole-owner corporation vs. sole-proprietorship? | [
"141458"
] | [
"\"Not really, no. The assumption you're making—withdrawals from a corporation are subject to \"\"[ordinary] income tax\"\"—is simplistic. \"\"Income tax\"\" encompasses many taxes, some more benign than others, owing to credits and exemptions based on the kind of income. Moreover, the choices you listed as benefit... |
1372 | First time consultant, doubts on Taxation | [
"439248",
"420295",
"318111"
] | [
"1.If the compensation that I receive is over 10 lakhs, how much would be deducted as tax No tax will be deducted by the company. You have to calculate the tax and pay in Advance by yourself. There are quite a few Banks that give you online facility to pay your tax. There is no service tax. Otherwise the tax slabs ... |
1373 | Free “Rich Dad” education, with “free gift”: Is it legitimate, or is it a sales ploy? | [
"257417",
"350497",
"568667",
"162523"
] | [
"\"Robert Kiyosaki's is basically a get-rich quick author. But to answer your question: It is a sales pitch in disguise. See Marketplace's report on a Kiyosaki seminar, which reveals that the free work shop is a sales pitch for a 3-day work shop which costs several hundred dollars. And the 3-day workshop is a sal... |
1376 | Is the MBA an overrated degree/qualification? | [
"267727",
"519425",
"14951",
"210878"
] | [
"\"For some situations, an MBA can be overrated in the sense that given the cost of time and money, it isn't going to be a great return in some cases. There can be tens of thousands of dollars and a couple of years to get an MBA that some people believes should automatically make them worth $x more in their salary ... |
1385 | Self employed as IT consultant and as massage therapist: Do I need 2 HST numbers? | [
"78486"
] | [
"Given your clarifying points, it sounds like you are running both businesses as one combined business. As such, you should be able to get just a single HST number and use that. However, let me please urge you to contact a professional accountant and possibly a lawyer, as it is very unusual to be performing these s... |
1387 | Taxable Website Ad Revenue | [
"588253",
"241030"
] | [
"I'm not a tax advisor, but I've done freelance work, so... If any of your side-business revenue is reported on a 1099, you're now a business owner, which is why Schedule C must be filled out. As a business owner, minimum wage doesn't apply to you. All revenue is income to you, and you owe taxes on the profit, afte... |
1388 | UK - reclaim VAT on purchases for freelance work | [
"42924",
"472824"
] | [
"If you mostly do work for businesses/individuals who are VAT registered it's a no-brainer to become VAT registered yourself... Although you will have to charge your customers VAT (and pass this on to HMRC) because they are VAT-registered they will reclaim the amount so it won't actually 'cost' them anything. At th... |
1392 | What gives non-dividend stocks value to purchasers? [duplicate] | [
"488916",
"400983",
"212988",
"407551",
"572351",
"493438",
"420379",
"266944",
"435125"
] | [
"Dividends are not fixed. A profitable company which is rapidly expanding, and thus cash-strapped may very well skip dividends, yet that same fast growth makes it valuable. When markets saturate, and expansion stops, the same company may now have a large free cash flow so it can pay dividends.",
"\"A share of sto... |
1394 | Does the stock market create any sort of value? | [
"62653",
"167322",
"180362",
"408546",
"131788",
"381665",
"186184",
"444829",
"94729",
"460196"
] | [
"\"You are correct that a share of stock in a company has zero intrinsic value. Even if the company typically pays dividends, there's no guarantee that it will continue to do so. A share's only worth comes from: So that's one step better than a Ponzi scheme, because in a Ponzi scheme there's not actually any valu... |
1395 | Market Hours and Valuations | [
"503047",
"72372"
] | [
"\"Company values (and thus stock prices) rely on a much larger time frame than \"\"a weekend\"\". First, markets are not efficient enough to know what a companies sales were over the past 2-3 days (many companies do not even know that for several weeks). They look at performance over quarters and years to determ... |
1397 | Borrowing 100k and paying it to someone then declaring bankruptcy | [
"473641",
"415408",
"230467",
"58035"
] | [
"This is fraud and could lead to jail time. The vast majority of people cannot obtain such loans without collateral and one would have to have a healthy income and good credit to obtain that kind of loan to purchase something secured by a valuable asset, such as a home. Has this been done before? Yes, despite it b... |
1399 | Does getting a 1099 from another state count as working in another state if I was physically in my home state? | [
"483942",
"140428"
] | [
"This depends on the state law. In case of the State of New York - these are the criteria for sourcing the NY income: As a sole proprietor or partnership, your New York source income includes: Business activities As a nonresident sole proprietor or partnership, you carry on a business, trade, profession, or occ... |
14 | What are 'business fundamentals'? | [
"398960"
] | [
"From http://financial-dictionary.thefreedictionary.com/Business+Fundamentals The facts that affect a company's underlying value. Examples of business fundamentals include debt, cash flow, supply of and demand for the company's products, and so forth. For instance, if a company does not have a sufficien... |
1400 | American taxes if living outside the US and get paid by US company on a US bank account | [
"331384",
"185384"
] | [
"I agree with Joe, having the money deposited to the US bank account may land you in trouble. Technically, a US business paying a foreigner must withhold 30% of the payment, unless a tax treaty says otherwise. The US business should do that based on your W8-BEN/W8-ECI form that you should have given to the business... |
1402 | What does HMRC (the UK tax agency) view as valid expenses for travel? | [
"216077"
] | [
"Food is almost never a valid expense. Reason for it is simple - if you were not conducting business you would have to eat too. Ad 1. I don't see why travel in that case would not be a valid expense, as the only reason for you to travel there is for business reasons. Ad 2. Unlikely as there is a duality of purpose.... |
1404 | Indian citizen working from India as freelancer for U.S.-based company. How to report the income & pay tax in India? | [
"576873",
"334902"
] | [
"You can receive money directly into your savings bank account. It is perfectly legal. FYI the Bank as part of regulation would report this to RBI. As the funds are received for the services you have rendered, You are liable to pay tax on the income. The income is taxed as professional income similar to the income ... |
1407 | Additional credit card with different limit on same account? | [
"425487",
"400532"
] | [
"You can look into getting a business credit card. When I had my Chase business credit card, I could add authorized users to the main account and set a spending limit on each card.",
"\"Generally not. Since authorized user cards are the same account and the difference between the two (the original and the AU car... |
1412 | Strategies for paying off my Student loans | [
"592192",
"285024",
"175768"
] | [
"My advice is that if you've got the money now to pay off your student loans, do so. You've saved up all of that money in one year's time. If you pay it off now, you'll eliminate all of those monthly payments, you'll be done paying interest, and you should be able to save even more toward your business over the n... |
1418 | Is there a White-list of Trusted Online Vendors? | [
"401254"
] | [
"\"I'm going to go with \"\"ridiculous notion.\"\" :) The vast majority of businesses are legitimate, run by honest people trying to earn a living for themselves and their employees. These days, almost all of them accept credit cards. Crooked businesses are a very small minority. When a bad business over charges... |
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