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Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What happens if a purchase is $0.02 in Canada? ### Answer: I'd imagine in this extreme edge case it would round down to $0. I can't fathom what makes $10.02 or $153.02 any different from $0.02. ###e...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What happens if a purchase is $0.02 in Canada? ### Answer: I think it should be free. Why? I had a coupon for 35, I bought something for 35.01 including taxes and total to pay was 0.01, rounded to 0.0...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there a bank account that allows ACH deposits but not ACH withdrawals? ### Answer: Yes, kinda. Talk to local banks about a business account, and tell them you want to enable certain employees to ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there a bank account that allows ACH deposits but not ACH withdrawals? ### Answer: Nowadays, all checks you write will not be send to your bank anymore, but instead the bank where they get deposite...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is quotational loss in stock market? ### Answer: Been a long while since I've read it but if I remember correctly with quotational loss Graham refers to an unjustified decline in stock price beca...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is quotational loss in stock market? ### Answer: In this instance "quotational" is a reference to a market price quote, not a mathematical function. Staunch "value investors" like Graham, Dodd, ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is quotational loss in stock market? ### Answer: https://www.fool.com/investing/general/2013/07/30/2-types-of-risk-2-types-of-bubbles.aspx (mirror): The Wall Street Journal reviews: What Mr. Bern...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is it financially advantageous and safe to rent out my personal car? ### Answer: The moment that you start to rent your car to strangers you are talking about using your car as a business. Will it be ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is it financially advantageous and safe to rent out my personal car? ### Answer: I'm going to address a couple of extra issues over and above mhoran_psprep's great answer. Insurance A lot of the jobs ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is a website/domain name an asset or a liability? ### Answer: This depends on your definitions of assets and liabilities. The word "asset" has a fairly straight forward definition. Generally speaking...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is a website/domain name an asset or a liability? ### Answer: In an accounting position, a domain name would fall under an intangible asset. Copyrights and patents are intangible, while tangible asset...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Doctor's office won't submit claim to insurance after 5 months ### Answer: I'm a business law student, so medical stuff isn't really my specialty. I'll share with you what I know though. First, as to ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Legitimate unclaimed property that doesn't appear in any state directory? ### Answer: Most states have a "cap" on the amount a "heir finder" can charge for retrieving the property. It is generally ar...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Legitimate unclaimed property that doesn't appear in any state directory? ### Answer: It's true that most states have limits on what finders can charge if the listing is in state possession. If it is ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Legitimate unclaimed property that doesn't appear in any state directory? ### Answer: @ Chris: Companies like Keane, ours, and others know where to look for these funds and where to ask at the correc...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Legitimate unclaimed property that doesn't appear in any state directory? ### Answer: So while these companies are not a scam, 30% feels pretty darn high. How about you negotiate a much lower rate? ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Legitimate unclaimed property that doesn't appear in any state directory? ### Answer: for full disclosure I'm an Independent Contractor and work with Jeff Richman. @ Neil: Question 1: How legitimate ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Legitimate unclaimed property that doesn't appear in any state directory? ### Answer: You can't blame companies like 'Legal Claimant Services' for making a profit by providing this service. That is ca...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Uncashed paycheck 13 years old ### Answer: Under US law, a bank is not obligated to honor a check that is more than six months old. § 4-404. BANK NOT OBLIGED TO PAY CHECK MORE THAN SIX MONTHS OLD. A b...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Uncashed paycheck 13 years old ### Answer: Even going to small claims court the burden would be on you to prove that they never paid you. The 13 year gap would be the core of the argument by the compa...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Uncashed paycheck 13 years old ### Answer: If this is in the United States, there are laws governing business behavior when they have recorded expenses (checks, bills, etc) which are never withdrawn o...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do I deduct payments to others out of a single payment to the group for contract work? ### Answer: You send the proper form to the other person for the amount you gave him, and file it as your bus...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there a correlation between self-employment and wealth? ### Answer: In a well-managed company, employees bring more dollars to their employers than the employers pay the employees (salary and benef...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there a correlation between self-employment and wealth? ### Answer: If you could find a breakdown, I suspect that it would show not just that they are self employed but own their own company. There...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there a correlation between self-employment and wealth? ### Answer: The key to becoming wealthy as a self-employed person is the drive to be successful. A driven person, who starts their own compan...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there a correlation between self-employment and wealth? ### Answer: Many studies show that the wealthiest households are self employed and small business owners. But there is significant risk assoc...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Tax benefits of recycling ### Answer: If they charge a fee to accept an item, it's reasonable to assume the item has insignificant value, so the only tax-deductible bit would be the money you donated ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Tax benefits of recycling ### Answer: They are certainly only suggesting that the money you pay to recycle the bulbs is tax deductible as a donation, assuming that they are indeed a 501(c)(3) non-prof...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Tax benefits of recycling ### Answer: If a business incurs expenses in the process of its trading, generally those expenses are deductible. Disposing of waste is generally held to be a deductible expe...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Deferring claim of significant purchase of RRSPs ### Answer: You can defer RRSP deductions like you've suggested. Here's an article from the CBC about it: http://www.cbc.ca/news/business/taxseason/sto...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Deferring claim of significant purchase of RRSPs ### Answer: You can't defer reporting of the RRSP purchases. The financial institution will report those purchases to CRA, and the CRA expects to see ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How Emini/Minifuture price is set against its underlaying instrument? ### Answer: The market sets prices and the way JP Morgan or any other bank or organization determines the price it's willing to de...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Freelancing Tax implication ### Answer: If you have income in the US, you will owe US income tax on it, unless there is a treaty with your country that says otherwise. ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the lifespan of a series of currency? ### Answer: In general, currency has no expiration date. Specifically, in Canada, the Bank of Canada has been issuing banknotes since 1935, and these are ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the lifespan of a series of currency? ### Answer: US currency doesn't expire, it is always legal tender. I can see some trouble if you tried to spend a $10,000 bill (you'd be foolish to do so...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the lifespan of a series of currency? ### Answer: Currency lives no more then 50 years. US currency did not expire in last 100 years, but it was reinstated few times, last one was 2009. Note t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there a financial benefit for buyers from using community currencies? ### Answer: Short answer: NO, there is no financial benefits for you to expect in a local currency even if some might give tiny...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the difference between the asset management division in an investment bank and an investment company? ### Answer: I would say that there is no real difference. Asset management companies that...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: If a country can just print money, is global debt between countries real? ### Answer: The debt is absolutely real. China loans money to US via buying the US treasury bonds. The bond is essentially a ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: If a country can just print money, is global debt between countries real? ### Answer: I think the important fact here is that all of our currencies are Fiat Currencies. So currency technically means ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: If a country can just print money, is global debt between countries real? ### Answer: To understand this fully one would need to understand quite a few things. Not in scope here. In short, whenever C...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: If a country can just print money, is global debt between countries real? ### Answer: This is a extremely complicated subject, but I assume you want a very simple answer (otherwise I'm not qualified ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: If a country can just print money, is global debt between countries real? ### Answer: The main driver behind countries not printing themselves out of debt is the fact that it will cripple the economy...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: If a country can just print money, is global debt between countries real? ### Answer: Debt can be denominated either in a currency the country controls or a currency the country doesn't control. If t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do some stocks have trading halts and what causes them? ### Answer: The company may have put a trading halt due to many reasons, most of the time it is because the company is about to release some...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why would a company sell debt in order to buy back shares and/or pay dividends? ### Answer: I believe that article provides some good reasons, though it may be a bit light on technical details and the...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why would a company sell debt in order to buy back shares and/or pay dividends? ### Answer: It's a tax shelter. Foreign affiliates hold most of Microsoft's cash and investments. The cost of borrowing ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why would a company sell debt in order to buy back shares and/or pay dividends? ### Answer: There is a substantial likelihood over the next several years that the US Dollar will experience inflation. ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why would a company sell debt in order to buy back shares and/or pay dividends? ### Answer: When I play Railroad Tycoon III, I often send my company deep into debt to get cash on hand to buy back shar...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why would a company sell debt in order to buy back shares and/or pay dividends? ### Answer: My answer is not specific, or even maybe applicable, to Microsoft. Companies don't want to cut dividends. So...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why would a company sell debt in order to buy back shares and/or pay dividends? ### Answer: Businesses have bond ratings just like people have credit ratings. It has become common for businesses to is...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can I depreciate a car given to me? ### Answer: That seems to indicate that you can in fact depreciate a vehicle given to you? Section 1015 discusses the calculation of basis for gifted property, it...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can I depreciate a car given to me? ### Answer: Yes, you can depreciate gifts to your business subject to the special rules in § 1011 and Regulation § 1.1011–1 and 1.167(g)–1. It is dual basis propert...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: New Pooled Registered Pension Plan details? ### Answer: The general idea of the PRPP is so that small business who cannot afford to offer a plan alone will be able to pool resources with others along ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Whats the difference between day trading and flipping and their tax implications? ### Answer: Flipping usually refers to real-estate transaction: you buy a property, improve/renovate/rehabilitate it a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Getting Cash from Credit Card without Fees ### Answer: Nope. Or at least, if it were possible the company offering such a credit card would quickly go out of business. Credit card companies make money...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Getting Cash from Credit Card without Fees ### Answer: While I think this is generally inadvisable, there are sites and communities dedicated to "points churning" credit card reward programs. In gene...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Getting Cash from Credit Card without Fees ### Answer: You said: Use a credit card (to get my 3% Cash back) to withdraw cash ... Then you said: Is there any way to do this without paying a cash advanc...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Getting Cash from Credit Card without Fees ### Answer: This was actually (sort of) possible a few years ago. The US Mint, trying to encourage use of dollar coins, would sell the coins to customers for...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Dormant company, never paid taxes, never traded in UK - should I have notified the HMRC? ### Answer: You don't have to register for corporation tax until you start doing business: After you’ve registe...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Side work and managing finances? ### Answer: I have done similar software work. You do not need an LLC to write off business expenses. The income and expenses go on Schedule C of your tax return. It i...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Side work and managing finances? ### Answer: I've done various side work over the years -- computer consulting, writing, and I briefly had a video game company -- so I've gone through most of this. Di...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What happens when PayPal overdrafts a checking account (with an ample backup funding source available)? ### Answer: You should check directly with the seller. I suspect you will find they have not rec...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What happens when PayPal overdrafts a checking account (with an ample backup funding source available)? ### Answer: PayPal will be contacting you shortly, I'm sure. You'll see the reversal on their s...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What happens when PayPal overdrafts a checking account (with an ample backup funding source available)? ### Answer: I made this mistake and tried calling Paypal...the first time I have ever been unhap...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Moonlighting as a software developer: employee or independent contractor w/ LLC? ### Answer: I've been in a similar situation before. While contracting, sometimes the recruiting agency would allow me ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: W-8BEN? What's the tax from selling my software to a U.S. company, from abroad? ### Answer: You should not form a company in the U.S. simply to get the identification number required for a W-8BEN form...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: W-8BEN? What's the tax from selling my software to a U.S. company, from abroad? ### Answer: I realize this is a stale topic, but to anybody who may swing by looking for an answer to this question (on ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: splitting a joint mortgage - one owner in home ### Answer: Get a lawyer to put this in contract form, with everything spelled out explicitly. What is fair is what the two of you agree upon. My own sug...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: splitting a joint mortgage - one owner in home ### Answer: Definitely get a lawyer to write up all the details of the partnership in a formal agreement. If your ex does not want to do this, that is a ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Rules for SEP contributions in an LLC? ### Answer: From Schwab - What are the eligibility requirements for a business to establish a SEP-IRA? Almost any type of business is eligible to establish a SE...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: My tenant wants to pay rent through their company: Should this raise a red flag? ### Answer: I disagree with the other respondents. If your tenant is an individual, renting in their individual capacit...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: My tenant wants to pay rent through their company: Should this raise a red flag? ### Answer: The company that's apparently going to pay this rent wants to treat it as a business expense. They are ask...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: My tenant wants to pay rent through their company: Should this raise a red flag? ### Answer: Maybe you should consider setting up a Taxpayer Identification Number (TIN) for your business dealings as a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Tools for comparing costs between different healthcare providers? ### Answer: There really isn't any good ways that I'm aware of. (The exception is in New York or California, where hospitals must post...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Tools for comparing costs between different healthcare providers? ### Answer: When I had a high-deductible healthcare plan, I used http://www.ehealthinsurance.com/ to do comparisons among the plans. ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Found an old un-cashed paycheck. How long is it good for? What to do if it's expired? ### Answer: The two banks involved may have different policies about honoring the check. It might not be written o...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Found an old un-cashed paycheck. How long is it good for? What to do if it's expired? ### Answer: The check is just barely over 6 months old. I suspect it will go through with no issues. ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Found an old un-cashed paycheck. How long is it good for? What to do if it's expired? ### Answer: This varies by jurisdiction somewhat but speaking as a Canadian, a small business owner, and accountan...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Found an old un-cashed paycheck. How long is it good for? What to do if it's expired? ### Answer: Look up escheatment. Companies that have unclaimed property are supposed to send it to your State gove...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Found an old un-cashed paycheck. How long is it good for? What to do if it's expired? ### Answer: The typical rule in the US is 180 days, but some banks do it differently. However, even if the check i...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Found an old un-cashed paycheck. How long is it good for? What to do if it's expired? ### Answer: In the UK the official rule is that a cheque is valid for 3 years from the date it was wrote. However ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How are investment funding valued when invested in a company before it goes public? ### Answer: This is a question of how does someone value a business. Typically, it is some function of how much th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: If a employers supposed to calulate drive time pay with your weekly gross pay ### Answer: Reimbursements for business expenses are generally not taxable, but the commute from home to the job and back ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: If a employers supposed to calulate drive time pay with your weekly gross pay ### Answer: You're getting paid by the job, not by the hour, so I don't see why you think the employer is obligated to pay...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to manage 20 residential apartments ### Answer: If he can't manage, best is he sells it off. Its easier to manage cash. Not sure what tax you are talking about. He should have already paid tax on ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to manage 20 residential apartments ### Answer: I have no idea about India, but in many countries there are companies that specialize in property management. This means they will take on the busin...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to manage 20 residential apartments ### Answer: There are many property management companies are available in India. You can easily find trusted companies just searching on the google. They manage...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there a way to open a U.S. bank account for my LLC remotely? ### Answer: Yes, it is possible. Although there may be red tape for a business account, Alliant Credit Union offers completely online s...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is the contribution towards Employment Insurance (EI) wasted if I never get fired, or are my premiums refunded? ### Answer: Sorry, even if you never file a claim for Employment Insurance (EI), you don...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is the contribution towards Employment Insurance (EI) wasted if I never get fired, or are my premiums refunded? ### Answer: Actually, most insurance policies DON'T have a cash value if you don't make ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is the contribution towards Employment Insurance (EI) wasted if I never get fired, or are my premiums refunded? ### Answer: It is not wasted: it bought you peace of mind. Perhaps you would have had pe...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is the contribution towards Employment Insurance (EI) wasted if I never get fired, or are my premiums refunded? ### Answer: I would suggest they are not wasted because your premiums fund unemployment ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: My boss wants to buy me a gift. How do I account for taxes for this? ### Answer: Gifts given and received between business partners or employers/employees are treated as income, if they are beyond min...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: My boss wants to buy me a gift. How do I account for taxes for this? ### Answer: The way I have seen this done in the past is the business will withhold taxes on the amount of the gift. Very much lik...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Warren Buffett and Charles Munger advice for small investors? ### Answer: Warren Buffett: 'Investing Advice For You--And My Wife' (And Other Quotes Of The Week): What I advise here is essentially iden...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What types of careers consistently make the most money entering with no background or social skills? ### Answer: You may think it sucks to have learned a crap ton of category theory, which is seeming...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What types of careers consistently make the most money entering with no background or social skills? ### Answer: It sounds like you're massively under-selling yourself. You presumably have a degree ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: In Canada, can a limited corporation be used as an income tax shelter? ### Answer: (Disclaimer: I am not an accountant nor a tax pro, etc., etc.) Yes, a Canadian corporation can function as a partial ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: In Canada, can a limited corporation be used as an income tax shelter? ### Answer: This scheme doesn't work, because the combination of corporation tax, even the lower CCPC tax, plus the personal inco...