Chunk-level Retrieval Eval
Collection
Contextualized chunk-level (query2chunk) retrieval eval for the Citras benchmark. • 46 items • Updated
chunk_id stringlengths 4 8 | chunk stringlengths 1 754 | source_url stringlengths 1 4 | title stringclasses 1
value | chunk_idx int64 0 17 | chunk_start_char int64 0 9.02k | chunk_end_char int64 3 9.31k |
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1::0 | 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 this case... | 1 | 0 | 0 | 538 | |
1::1 | Consider them and a similarly situated couple that didn't make these purchases. Your sister in law is better off in that she has the benefit of these purchases (increasing the value of her business and her expected future income), but she's worse off because she got less pay. Presumably, she thought this was a fair tra... | 1 | 1 | 539 | 1,146 | |
1::2 | But the purchases themselves are not, and the income that generated the money to make those purchases is taxable. Generally speaking, business gains are taxable, regardless of what you do with the money (whether you pay yourself, invest it, leave it in the business, or whatever). Generally speaking, only business losse... | 1 | 2 | 1,147 | 1,791 | |
1::3 | It can be separately taxed as a corporation or it can be treated essentially as if it didn't exist. In the former case, corporate income tax would be due on the revenue that was used to pay for the purchases. There would be no personal income tax due. But it's very unlikely this situation applies as it means all profit... | 1 | 3 | 1,792 | 2,421 | |
1::4 | Since a purchase is not a deductible expense, there is no deduction to offset this income. So, again, the key points are: How much she paid herself doesn't matter. Business income is taxable regardless of what you do with it. When a business pays an expense, it has a loss that is deductible against profits. But when a ... | 1 | 4 | 2,422 | 2,987 | |
1::5 | (There are some exceptions, but presumably the accountant determined that those don't apply.) When the property of a business loses value, that is usually a deductible loss. So over time, a newly-purchased stove will lose value. That is a loss that is deductible. The important thing to understand is that as far as the ... | 1 | 5 | 2,988 | 3,667 | |
1::6 | But unless the business is losing money or needs to hold large profits against future expenses, this is generally a worse deal because money you take out of the business is taxed twice -- once as business income and again as personal income. Update: Does the business eventually, over the course of the depreciation sche... | 1 | 6 | 3,668 | 4,275 | |
1::7 | Upon immediate replacement, hypothetically with the exact same model, same cost, same 'value', isn't it correct that the "value" of the business only went up by the amount the original item had depreciated? Yes. If you dispose of or sell a capital asset, you will have a gain or loss based on the difference between your... | 1 | 7 | 4,276 | 4,885 | |
1::8 | The new asset would then begin depreciating. You are making things a bit more difficult to understand though by focusing on the amount of taxes due rather than the amount of taxable gain or loss you have. They don't always correlate directly (because tax rates can vary). | 1 | 8 | 4,886 | 5,157 | |
2::0 | 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 sufficient sup... | 2 | 0 | 0 | 602 | |
2::1 | For a stock the basic fundamentals are the second column of numbers you see on the google finance summary page, P/E ratio, div/yeild, EPS, shares, beta. For the company itself it's generally the stuff on the 'financials' link (e.g. things in the quarterly and annual report, debt, liabilities, assets, earnings, pro... | 2 | 1 | 603 | 931 | |
3::0 | You need to give specific dates! In the United States, you have three years to file an amended tax return. https://www.irs.gov/uac/Newsroom/Ten-Facts-about-Amended-Tax-Returns Did the restaurant fail in 2012? If so, that's probably the year to take the loss. If you need to amend your 2012 return, which you filed in 201... | 3 | 0 | 0 | 421 | |
4::0 | You don't say what country you live in. If it's the U.S., the IRS has very specific rules for business use of a car. See, for starters at least, http://www.irs.gov/publications/p463/ch04.html. The gist of it is: If you use the car 100% for business purposes, you NEVER use it to drive to the grocery store or to your fri... | 4 | 0 | 0 | 379 | |
4::1 | If you use a car party for business use and partly for personal use, than you can deduct the portion of the expense of the car that is for business use, but not the portion that is for personal use. So basically, if you use the car 75% for business purposes and 25% for personal use, you can deduct 75% of the cost and e... | 4 | 1 | 380 | 708 | |
4::2 | You can calculate the business use by, (a) Keeping careful records of how much you spent on gas, oil, repairs, etc, tracking the percentage of business use versus percentage of personal use, and then multiplying the cost by the percentage business use and that is the amount you can deduct; or (b) Use the standard milea... | 4 | 2 | 709 | 1,199 | |
4::3 | (If it did, then everyone could create a small business, open a business account, pay all their bills from there, and all their personal expenses would magically become business expenses.) Just by the way: If you are going to try to stretch the rules on your taxes, business use of a car or personal computer or expenses... | 4 | 3 | 1,200 | 1,727 | |
5::0 | In my experience (in the US), the main draw of check-cashing businesses (like "CheckN2Cash" is that they will hold your check for a certain period of time. This is also known as a "payday loan". Rather than bringing them a check someone else has written you, you write them a check yourself, postdated, and they pay yo... | 5 | 0 | 0 | 415 | |
5::1 | So if you don't have the money right now but you need it before your next payday, you visit a check-cashing business and get the money, and it'll be withdrawn from your account after your next paycheck. | 5 | 1 | 417 | 619 | |
6::0 | It should be pretty obvious that without knowing what sort of assets the company owns, and what sort of net earnings are being generated it's impossible to say what a $20k equity investment should get you in terms of ownership percentage. With that said, you want to look at a few to several years of books, look for t... | 6 | 0 | 0 | 603 | |
6::1 | You may be better off investing in this business via a loan that's convertible to equity at your discretion. Single owner service companies are difficult because all of the net earnings go to the proprietor and that person maintains all of the relationships. So taking something like 5 years of net earnings as the va... | 6 | 1 | 605 | 1,169 | |
6::2 | When you read about valuation there is a sort of overriding assumption that no single person could topple the operation which couldn't be farther from the truth in single employee service companies. Additionally, understand that your investment in a single owner company hinges completely on one person's ability and wi... | 6 | 2 | 1,171 | 1,830 | |
6::3 | The first rule of investing is "don't lose money," this isn't emotional, this is a dollars and cents pragmatic process. Why does the business need this money? How will you be paid back? Personally, I think it would be more gratifying to put $20k in a blender and watch it blend, this is probably a horrible investment... | 6 | 3 | 1,832 | 2,209 | |
7::0 | It's clearly a risk, but is it any different than investing in your own business? Yes, it is different. If you own a business, you determine the path of the business. You determine how much risk the business takes. You can put in extra effort to try to make the business work. You can choose to liquidate to preserve... | 7 | 0 | 0 | 616 | |
7::1 | This makes investing in someone else's business inherently riskier. Another problem that can occur is that you could find out that the business is fraudulent. Or the business can become fraudulent. Neither of those are risks if you are the business owner. You won't defraud yourself. Angel investing, that is to s... | 7 | 1 | 618 | 1,300 | |
7::2 | Otherwise the business would just take out the same loan that Jane's getting, and leave Jane out of it. | 7 | 2 | 1,302 | 1,405 | |
8::0 | Generally, unless you're doing a wire transfer, bank transactions are processed in batches overnight. So the credit card company won't be able to confirm your transfer until the next business day (it may take even longer for them to actually receive the money). | 8 | 0 | 0 | 261 | |
9::0 | A tax return is a document you sign and file with the government to self-report your tax obligations. A tax refund is the payment you receive from the government if your payments into the tax system exceeded your obligations. As others have mentioned, if an extra $2K in income generated $5K in taxes, chances are your ... | 9 | 0 | 0 | 650 | |
9::1 | There are four basic flavors of entity which are available to you: Sole proprietorship. This is the simplest option in terms of tax reporting and paperwork required for ongoing operations. Your net (gross minus expenses) income is added to your wage income and you'll pay tax on the total. If your wage income is less th... | 9 | 1 | 651 | 1,274 | |
9::2 | You are liable for all of the debts and obligations of the business to the extent of all of your personal assets. Partnership. You will need at least two participants (humans or entities) to form a partnership. Individual items of income and expense are identified on a partnership tax return, and each partner's proport... | 9 | 2 | 1,275 | 1,933 | |
9::3 | A general partnership can be created informally or with an oral agreement although that's not a good idea. Corporation. Business entities can be taxed as "S" or "C" corporations. Either way, the corporation is created by filing articles of incorporation with a state government (doesn't have to be the state where you li... | 9 | 3 | 1,934 | 2,546 | |
9::4 | An "S" corporation files an information-only return similar to a partnership which reports items of income and expense, but those items are actually taken into account on the individual tax returns of the shareholders. If an "S" corporation runs at a loss, the losses are deductible against the shareholders' other incom... | 9 | 4 | 2,547 | 3,012 | |
9::5 | Payments from the C corporation to individuals are typically taxable as wages (from a tax point of view, it's the same as having a second job) or as dividends, depending on how and why the payments are made. (If they're in exchange for effort and work, they're probably wages - if they're payments of business profits to... | 9 | 5 | 3,013 | 3,663 | |
9::6 | C corporations can deduct expenses for providing fringe benefits. LLCs don't have a predefined tax treatment - the members or managers of the LLC choose, when the LLC is formed, if they would like to be taxed as a partnership, an S corporation, or as a C corporation. If an LLC is owned by a single person, it can be co... | 9 | 6 | 3,664 | 4,234 | |
9::7 | If a creditor/plaintiff has a claim based on a contract signed on behalf of the entity, then they likely will not be able to "pierce the veil" and collect the entity's debts from the individual owners. On the other hand, if a creditor/plaintiff has a claim based on negligence or another tort-like action (such as sexual... | 9 | 7 | 4,235 | 4,735 | |
9::8 | The entity-based asset protection is also often unavailable even for contract claims because sophisticated creditors (like banks and landlords) will often insist the the business owners sign a personal guarantee putting their own assets at risk in the event that the business fails to honor its obligations. There's no ... | 9 | 8 | 4,736 | 5,321 | |
10::0 | You're not paying taxes three times but you are paying three different taxes (or more). Sales tax is a business expense, just like costs of goods sold or interest on a loan. Then, depending on how you structure the business, the net income of the business just hits you personally and you pay income taxes. You can wor... | 10 | 0 | 0 | 534 | |
11::0 | Alright, IRS Publication 463: Travel, Entertainment, Gift, and Car Expenses Business and personal use. If you use your car for both business and personal purposes, you must divide your expenses between business and personal use. You can divide your expense based on the miles driven for each purpose. Example. Yo... | 11 | 0 | 0 | 483 | |
11::1 | You can claim only 60% (12,000 ÷ 20,000) of the cost of operating your car as a business expense Obviously nothing helpful in the code. So I would use option 1, weight the maintenance-related mileage by the proportion of business use. Although if you use your car for business a lot (and perhaps have a spouse with... | 11 | 1 | 484 | 956 | |
11::2 | And of course never throw anything away until you're room temperature. | 11 | 2 | 957 | 1,027 | |
12::0 | Businesses are free to decide what payment methods they accept for their goods and services. Businesses sometimes advertise what credit cards they accept by posting some stickers at their door. When your credit card isn't among them and you don't have enough cash with you, ask about your card before you order. If a bus... | 12 | 0 | 0 | 668 | |
12::1 | When the food and service are decent, a restaurant doesn't deserve a one star rating just because they don't take credit cards). Note that businesses have good reasons to not accept credit cards. It often means additional cost for them in form of: But there is also a more shady reason. Taking payment in cash means that... | 12 | 1 | 669 | 1,219 | |
13::0 | I am going to assume your location is the US. From what I am seeing it is unlikely you will get a loan other than some government backed thing. You are a poor risk. At 7k/month, you have above average household income. The fact that all of your income "is being washed off somewhere" is a behavior problem, not a mathe... | 13 | 0 | 0 | 414 | |
13::1 | Failing that, given reasonable rent (1100), reasonable car payment (400), insurances (300), other expenses (1000), you should clear at least 4000 per month in cash flow. Where is that money going? Here tracking spending and budgeting is your friend. Figure out the leaks in your budget and fix them. By cutting back, ... | 13 | 1 | 415 | 936 | |
13::2 | Had you prepared for this moment three years ago you could have bought the store for cash. This would have eliminated a bunch of risk and increase the likelihood of this venture's success. If you had started this one year ago, you could have gone in with a significant down payment. The bank would see this as a good ... | 13 | 2 | 938 | 1,607 | |
13::3 | It is far more complex, and there is far less room for error. So how do you get a loan? I would start with learning on how to manage your personal finance well prior to delving into the world of business. | 13 | 3 | 1,609 | 1,816 | |
14::0 | A C-Corp is not a pass-through entity, any applicable taxes would be paid by the Corporation, which is a separate legal entity from yourself. If you use the points to purchase something for yourself, that would constitute "income" to you, and would be taxable on your personal income tax. | 14 | 0 | 0 | 288 | |
15::0 | You can move money in and out of the business at will, just keep track of every transaction. Ideally you'd use an accounting software like QuickBooks or similar. Create a Capital Contributions account and every time you put money into the business checking account record it as a Capital Contribution. Likewise, if you t... | 15 | 0 | 0 | 717 | |
15::1 | So there's no need to make a loan to the company, which would have tax consequences. To reimburse yourself for purchases already made, submit an expense report to the company. If the company is unfunded right now, you can make a capital contribution to cover current expenses, submit the expense report, and wait until y... | 15 | 1 | 718 | 1,153 | |
16::0 | If you're a US citizen, money earned while in the US is sourced to the US. So you can't apply FTC/FEIE to the amounts attributable to the periods of your work while in the US even if it is a short business trip. Tax treaties may affect this. Most tax treaties have explicit provisions to exclude short trips from the sou... | 16 | 0 | 0 | 471 | |
16::1 | Your home country should allow credit for the US taxes paid on the US-sourced income, and the double-taxation avoidance provision should apply in this case. The technicalities depend on your specific country. You would probably not just remove it from the taxable income, there probably is a form similar to the US form ... | 16 | 1 | 472 | 831 | |
17::0 | Read the Forbes article titled IRA Adventures. While it's not the detailed regulations you certainly need, the article gives some great detail and caution. You may be able to do what you wish, but it must be structured to adhere to specific rules to avoid self dealing. Those rules would be known by the custodians who w... | 17 | 0 | 0 | 578 | |
17::1 | So, even if you have the best business idea going, be sure you get proper council on this. | 17 | 1 | 579 | 669 | |
18::0 | I really have to use the business card for personal expenses, please assume that in your answer. This is very hard to believe. You must do that? Why not just have the company pay you $1600 each month? Then you can use that money for whatever you want. Why can't you do this? (I cannot think of a legitimate reason...) Ho... | 18 | 0 | 0 | 570 | |
18::1 | If you aren't ever paying yourself, then you should just pay the company back the $1600 every month. As a side note, I highly recommend you don't do this. By doing this on a regular basis you are opening the door for piercing the corporate veil. This means that the financial protections provided by the LLC could potent... | 18 | 1 | 571 | 1,085 | |
18::2 | Even if you aren't an owner, your relative could be considered to be "using business money for personal expenses", namely, letting a relative spend business funds for personal use. How to show more expenses and lessen the profit? If you're referring to the personal expenses, then you absolutely do not want to do this! ... | 18 | 2 | 1,086 | 1,622 | |
19::0 | For simplicity, let's start by just considering cash back. In general, cash back from credit cards for personal use is not taxable, but for business use it is taxable (sort of, I'll explain later). The reason is most personal purchases are made with after tax dollars; you typically aren't deducting the cost of what you... | 19 | 0 | 0 | 531 | |
19::1 | However, since businesses typically deduct most expenses, that same $100 deduction would have only been a $98 deduction for business tax purposes, so in this case the $2 should be accounted for. Note, you should not consider that $2 as income though; that would artificially inflate your revenue. It should be treated as... | 19 | 1 | 532 | 1,090 | |
19::2 | I have enough credit card reward points to cover the airfare, hotel, and rental car. Will those expenses still be deductible at the value displayed on the receipt? Effectively no, these expenses are not deductible. If you deduct them they will be completely counter-acted by the "refund" you receive for the payments. Pa... | 19 | 2 | 1,091 | 1,689 | |
19::3 | In this case the employer can simply reimburse and would not know or care if the employee is racking up rewards/points/cashback. The trick is, as the employee, you must always purchase business related items normally so you have receipts to show, and if you receive cashback on the side there seems to be a "don't ask, d... | 19 | 3 | 1,690 | 2,264 | |
19::4 | Typically, things like travel (airfare, hotel, car rental, meals) are expected. But I wouldn't go purchase 100 company laptops on your personal card and ask the company to reimburse you. The company should purchase those 100 laptops on a company card and effectively reduce the sale price by the cashback received. (Or m... | 19 | 4 | 2,265 | 2,772 | |
19::5 | If the rental car were paid for with points earned directly on the rental car company's loyalty system (not a CC), would that yield a different result? There is no difference. Perhaps the simplest way to think about this is you can only deduct an expense that you actually incur. In other words, the expense should show ... | 19 | 5 | 2,773 | 3,322 | |
19::6 | Instead you could have billed the charity for your 10 hours of work, and then turned around and donated that same amount back to them, but it ends up being a wash. | 19 | 6 | 3,323 | 3,486 | |
20::0 | Funds earned and spent before opening a dedicated business account should be classified according to their origination. For example, if your business received income, where did that money go? If you took the money personally, it would be considered either a 'distribution' or a 'loan' to you. It is up to you which of ... | 20 | 0 | 0 | 505 | |
20::1 | If you choose to record these transactions as loans, you can offset them together, so you don't need two separate accounts, loan to you and loan from you. When the bank account was opened, the initial deposit came from where? If it came from your personal funds, then it is either a 'contribution of capital' or a 'loan... | 20 | 1 | 506 | 1,023 | |
20::2 | The above would also be how to record any expenses you may pay personally for the business (if any) in the future. Because these transactions were not through a dedicated business bank account, you can't record them in Quickbooks as checks and deposits. Instead, you can use Journal Entries. For any income received, y... | 20 | 2 | 1,024 | 1,719 | |
21::0 | You cannot do a like-kind (Sec. 1031) exchange for personal property, only for business/investment property. Since you said that you traded in your personal car - no like-kind exchange is possible. Also, since the new car doesn't belong to you - you didn't actually perform any exchange. You sold your old car, but you d... | 21 | 0 | 0 | 472 | |
21::1 | Check your entries again, specifically - check if you entered that you purchased a new car instead of the old one, since you didn't. See an example of where to start looking here. | 21 | 1 | 473 | 652 | |
22::0 | Of course you can accept gold as payment. Would anyone pay in gold? Would it have tax consequences on your federal taxes? These additional questions are off-topic on this site about personal finance. | 22 | 0 | 0 | 200 | |
23::0 | I'm not an accountant, and you should probably get the advice of one to be sure about what to do. However, if the business is a sole-proprietorship, you'd complete a Schedule C for the business, and you'd end up with a loss at the end. If the investment you made in the business is considered to be entirely or partial... | 23 | 0 | 0 | 508 | |
23::1 | There may be some other considerations based on whether this was really a business vs a hobby, and whether or not you're going to try to continue with the business, or whether you've shut it down. I'm not sure about those parts, but they'd be worth exploring with an accountant. | 23 | 1 | 509 | 788 | |
24::0 | When your debt is forgiven, you have to consider the amount written off as an ordinary income item (with the exclusion of the debt originated from the purchase of primary home). If you're trying to write the debt off from your taxes - then it won't work. Even if you can expense the debt forgiveness, you will incur tax ... | 24 | 0 | 0 | 515 | |
24::1 | In addition, you're dealing with related persons here, which means that the loss deduction might not be allowed (depends on the actual details of the transaction), so you might actually end up paying more taxes with this scheme that just paying off the loan directly (if your business pays taxes separately from your per... | 24 | 1 | 516 | 1,132 | |
25::0 | Investopedia has definitions for both: Debenture: A type of debt instrument that is not secured by physical asset or collateral. Bond: A debt investment in which an investor loans money to an entity (corporate or governmental) that borrows the funds for a defined period of time at a fixed interest rate. Wikipedia's ent... | 25 | 0 | 0 | 473 | |
26::0 | For $100 you better just hold it in Mexico. The cost of opening an account could eat 10% or more of your capital easily, and that won't be able to buy enough shares of an ETF or similar investment to make it worthwhile. | 26 | 0 | 0 | 220 | |
27::0 | No, it's not possible. Even if you had no deduction or credits, your federal tax on $16,604 would be: $9075 @ 10% = $907.50 + $7529 @ 15% = $1129.35 = $2036.85 That assumes you are filing as single. There must be more to the story. Typo in your income numbers? Also, what do you mean by a self-employment tax deductio... | 27 | 0 | 0 | 399 | |
27::1 | Edit: As noted in Loren's answer, it seems that it is indeed possible in at least one case (self-employment taxes). | 27 | 1 | 400 | 515 | |
28::0 | Here is an article that claims to know something about it. Here are a selection of quotes: The IRS says there are several ways a return can be selected for audit and the first is via the agency's computer-scoring system known as Discriminant Information Function, or DIF. The IRS evaluates tax returns based on IRS formu... | 28 | 0 | 0 | 554 | |
28::1 | But Nath, a tax attorney in the Washington, D.C., area, says it's no mystery the system is designed to screen for returns that could put more money in the government Treasury. So what is likely to trigger a discriminant information function red flag? | 28 | 1 | 555 | 805 | |
29::0 | I'll give the credit to @Quid in the comments section of the question. You put out $10k, you got back $20k, that's a cash gain of $10k, how the asset was valued between your purchase and sale isn't relevant. From an accounting perspective, the company is the only party that is realizing the loss (as they have sold the... | 29 | 0 | 0 | 429 | |
29::1 | Example: A company purchases a car for $20,000 and after depreciation it is worth (book valued at) $2,000. It is then sold to a customer for $3,000. Does the customer realize a loss of $1,000? No. Does the company realize a gain of $1,000? Yes. Your bank analogy is flawed in two ways: | 29 | 1 | 431 | 719 | |
30::0 | See the first item in the list: For our everyday business purposes – such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus Note that there's no option for you to limit this sharing. Credit reporting is the business need of the b... | 30 | 0 | 0 | 631 | |
31::0 | An LLC is overkill for 99% of 1 man small businesses. Side-businesses should remain as sole proprieterships until they get much larger and need the benefits of the LLC laws. You can still bill through a company name if you want to start building a brand: And set aside 25% of your gross income for Uncle Sam. He wants yo... | 31 | 0 | 0 | 566 | |
31::1 | Every mile is worth 50 cents. I recommend using a tracking system like the TaxMinimiser.com (buy the $4 version to see if you like it). Bottom line: EARN MONEY. Don't set up a "corporation". | 31 | 1 | 567 | 757 | |
32::0 | If you want your bank to pay $1 to a beneficiary Bob, then the service (no matter how implemented) needs to result in Bob's bank saying to Bob "Hey, I owe you $1". The usual way how this is done consists of two parts - your bank needs to somehow tell Bob's bank "hey guys, do us a favor and please give Bob $1 with a ... | 32 | 0 | 0 | 427 | |
32::1 | This is the main source for the delays in international payments - there are thousands of banks, and most of possible pairs have no legal contact between themselves whatsoever, no bilateral agreements, no trust and no reasonable enforcement mechanism for small claims. If I'm Bob's bank, then a random bank from anywhere... | 32 | 1 | 428 | 1,062 | |
32::2 | For payments within a single country, it often is a centralized exchange or a central bank, and the payment speed is then determined by the details of that particular single payment network - e.g. UK Faster Payments or the various systems used in USA. | 32 | 2 | 1,063 | 1,314 | |
32::3 | For international payments, it may require a chain of multiple intermediaries (correspondent banks) - for example, a payment of $1mm from Kazakhstan to China will likely involve the Kazakhstan bank asking their main correspondent in USA (some major bank such as Chase JPMorgan) to give the money to the relevant chinese ... | 32 | 3 | 1,315 | 1,946 | |
32::4 | If you want all payments to happen instantly, then you need all institutions to join a single binding payment system. It's not as easy as it sounds, as it is a nightmare of jurisdiction - for example, if you'd want me (as Bob's bank) to credit Bob instantly, then the system needs to provide solid guarantees that I woul... | 32 | 4 | 1,947 | 2,448 | |
32::5 | Providing such guarantees is expensive, they need to be backed by multi-billion capital, and they're unrealistic to enforce across jurisdictions (e.g. would an Iranian bank get recourse if some funds got blocked because of USA sanctions). The biggest such project as far as I know is SEPA, across most of Europe. Visa an... | 32 | 5 | 2,449 | 2,932 | |
33::0 | In general, it is unusual for a credit check to occur when you are terminating a contract, since you are no longer requesting credit. If the credit check was a "hard pull" it will stay on your credit report for 2 years, but will only have an impact on your credit score for up to 12 months. If the check is a "soft pull"... | 33 | 0 | 0 | 435 | |
33::1 | That being said, please feel free to continue your investigation and report back if you can get Comcast to admit they performed the 2nd credit check. I'm sure we'd all be interested to hear their explanation for it. | 33 | 1 | 437 | 652 | |
34::0 | In highly developed and competitive industries companies tread a continuous and very fine line between maximising shareholder profits by keeping prices up while making products as cheaply as possible, vs competitors lowering prices when they work out a way to make equivalents cheaper. In the short run you will quite of... | 34 | 0 | 0 | 689 | |
35::0 | You're conflating LLC with Corporation. They're different animals. LLC does not have "S" or "C" designations, those are just for corporations. I think what you're thinking about is electing pass through status with the IRS. This is the easiest way to go. The company can pay you at irregular intervals in irregular amoun... | 35 | 0 | 0 | 632 | |
35::1 | Alternatively you can elect to have the LLC taxed as a corporation. I don't know of a good reason why someone in your situation would do this, but I'm not an accountant so there may be reasons out there. My recommendation is to get an accountant to prepare your taxes. At least once -- if your situation is the same next... | 35 | 1 | 633 | 1,239 | |
35::2 | If all of your income is coming from self-employment, be prepared for hassles when you are shopping for a mortgage. You can ask around, maybe you have a friendly loan officer at your credit union who knows your history. But in general they will want to see at least two years of self-employment tax returns. You can plan... | 35 | 2 | 1,240 | 1,712 | |
36::0 | I am an Israeli based citizen who represents and Indian company who sells its products in Israel. As an agent I am entitled to commission on sales on behalf the Indian company who advised that. Any commission paid to you will be applicable to TDS at 20.9% of the commission amount, the tax will be paid and a Tax paid ce... | 36 | 0 | 0 | 488 | |
37::0 | Question (which you need to ask yourself): How well are your friends paid for their work? What would happen if you just took your money and bought a garage, and hired two car mechanics? How would that be different from what you are doing? The money that you put into the company, is that paid in capital, or is it a loa... | 37 | 0 | 0 | 357 | |
38::0 | I'm a Finance major in Finland and here is how it would go here. As you loan money to the company, the company has no income, but gains an asset and a liability. When the company then uses the money to pay the bills it does have expenses that accumulate to the end of the accounting period where they have to be declared... | 38 | 0 | 0 | 581 | |
38::1 | When the company then pays the loan back it is divided in principal and interest. The principal payment is a deduction in the company's liabilities and has no tax effect. The interest payment the again does have effect in taxes in the way of decreasing them. On your personal side giving loan has no effect. Getting the ... | 38 | 1 | 582 | 1,113 | |
39::0 | What this abbreviated balance sheet tells you is that this company has negative equity. The liabilities are greater than the value of the assets. The obvious problem for the company who wants to do business with you is that they are going to have a real hard time accessing credit to pay off any debts that they incur ... | 39 | 0 | 0 | 559 |
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