Datasets:
circircircle
/
FinQA

Dataset card Data Studio Files
xet
 Community
text
stringlengths
146
45.7k
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What does this statement regarding put options mean? ### Answer: fennec has a very good answer but i feel it provides too much information. So i'll just try to explain what that sentence says. Put opt...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Prepaid Rent (Accrual Based Accounting) ### Answer: Your account entries are generally correct, but do note that the last transaction is a mixture of the balance sheet and income statement. If Quickb...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is a robo-adviser worth the risk? ### Answer: If you are looking for an advisor to just build a portfolio and then manage it, a robo-advisor can be beneficial (especially if the alternative is doing i...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is a robo-adviser worth the risk? ### Answer: They've been around long enough now for there to be past performance figures you can google for. I think you'll find the results aren't very encouraging. ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What are the ins/outs of writing-off part of one's rent for working at home? ### Answer: Be ruthlessly meticulous about the IRS regulations for deducting a home office. If it's allowed, it's allowed....
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What are the ins/outs of writing-off part of one's rent for working at home? ### Answer: Tax regulations vary from country to country - some permitting more deductions, some less - but here are a few ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What are the ins/outs of writing-off part of one's rent for working at home? ### Answer: Before starting to do this, make sure that you are squeaky clean in all aspects of your tax preparation and are...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do I determine if sale proceeds from an asset are taxable? ### Answer: If it's fully expensed, it has zero basis. Any sale is taxable, 100%. To the ordinary income / cap gain issue raised in comme...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do I determine if sale proceeds from an asset are taxable? ### Answer: Profit = Sale price - Basis Basis = Purchase price - any depreciation taken, including expensing it. ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What tax laws apply to Meetup group income? ### Answer: In the United States tax law, a group of people who are neither an individual nor an incorporated entity is called "partnership". Here's the IR...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Self employed, putting away tax money ### Answer: Hearing somewhere is a level or two worse than "my friend told me." You need to do some planning to forecast your full year income and tax bill. In g...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Where on schedule C should a PO Box Rental fee go? ### Answer: Turbotax community had a similar question. They claim you just put it into "Office Expense". I never understood why there are so many ca...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Switching Accountants - who does the audit review for past years? ### Answer: It depends on what you paid for, but usually audit support is an unrelated engagement to the return preparation. If the ac...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How much house can I afford, waiting around 3 years or so ### Answer: On $4K/mo gross about $1000/mo can go to the mortgage, and at today's rates, that's about $200K of mortgage the bank might lend yo...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What are the tax implications if I do some work for a company for trade, rather than pay? ### Answer: Such activity is normally referred to as bartering income. From the IRS site - You must include in...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What are the tax implications if I do some work for a company for trade, rather than pay? ### Answer: Yes, the business can count that as an expense but you will need to count that as income because a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What are the tax implications if I do some work for a company for trade, rather than pay? ### Answer: Bartering is a tricky discussion. Yes, it definitely applies when you are self-employed and do a j...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: why the currency data(such as USD/JPY) is different from different source ### Answer: A day is a long time and the rate is not the same all day. Some sources will report a close price that averages th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Loan to son - how to get it back ### Answer: I think you've made a perfectly valid suggestion, and, if your son is struggling somewhat financially now, one that may be very welcome. If you agree to fo...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Loan to son - how to get it back ### Answer: I started a business a few years ago. At one point it wasn't going so well and my father "loaned" me an amount not too dissimilar to what you've done. Fro...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Loan to son - how to get it back ### Answer: As per JohnFx's comment above, consider whether it's worth more to you to just write this off. If not, if you feel that your son will be able to consider t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Loan to son - how to get it back ### Answer: Seems fair. I think this is a real subjective thing. Financially lets get rid of that line before interest rates get too high. Maybe have him pay you th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Loan to son - how to get it back ### Answer: He's paying the interest and you're paying the principal. If you're making minimum monthly payments, you'll still be doing the same thing 25-30 years from ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Loan to son - how to get it back ### Answer: A few ideas. I suggest it would wise to consider what lesson is learned as a result of any resolution of a financial issue. Is it a lesson of responsibilit...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Ghana scam and direct deposit scam? ### Answer: Of course, it is a scam. Regardless of how the scam might work, you already know that the person on the other end is lying, and you also know that peop...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Ghana scam and direct deposit scam? ### Answer: It used to be Nigerian royalty, now it's Ghanaian porn stars. Great. This is a bog-standard 419 scam. It's probably the most lucrative single swindle...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Ghana scam and direct deposit scam? ### Answer: The reason this sort of question gets asked over and over again is because it's initially difficult to comprehend how you can possibly be scammed if you...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Ghana scam and direct deposit scam? ### Answer: It's a scam. Here's someone who paid "Josie" 2000 pounds and lost it all Here's a Google search result list of how this softcore porn actor, Josie Ann M...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Ghana scam and direct deposit scam? ### Answer: Yes, this is a scam. Tell your dad not to pay any money. There will likely be a large deposit in his account, but if he withdraws the money from his ac...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Ghana scam and direct deposit scam? ### Answer: So Linda/Josie's initial plan was to have your dad pay money to (supposedly) help her get the gold chest. After he would have paid, there would have bee...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Ghana scam and direct deposit scam? ### Answer: Sadly, people with millions of dollars rarely give it away to complete strangers that they found at random on the Internet in exchange for trivial effor...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Ghana scam and direct deposit scam? ### Answer: The scammer is definitely up to something fishy. He (it's certain that the she is a he) may deposit some money into your father's account to gain his tr...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can anybody explain the terms “levered beta riders”, “equity long-short” and “the quant process driven discipline” for me, please? ### Answer: Leverage here is referring to "financial leverage". This ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can anybody explain the terms “levered beta riders”, “equity long-short” and “the quant process driven discipline” for me, please? ### Answer: Translation : Funds managers that use traditionnal method...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: what would you do with $100K saving? ### Answer: 4) Beef up my emergency fund, make sure my 401(k) or IRA was fully funded, put the rest into investments. See many past answers. A house you are livin...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: what would you do with $100K saving? ### Answer: The real answer is "Why do you want to waste a windfall chasing quick returns?" Instead, use this windfall to improve your financial situation, and m...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: what would you do with $100K saving? ### Answer: I would buy an ETF (or maybe a couple) in stable, blue chip companies with a decent yield (~3%) and then I'd play a conservative covered call strategy...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: The formula equivalent of EBITDA for personal finance? ### Answer: This should not be taken to be financial advice or guidance. My opinions are my own and do not represent professional advice or consu...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What's the least risky investment for people in Europe? ### Answer: First of all, congratulations on saving some money. So many people these days do not even get that far. As far as investments, what ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What's the least risky investment for people in Europe? ### Answer: Putting the money in a bank savings account is a reasonably safe investment. Anything other than that will come with additional risk...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do multi-currency bank accounts work? What is the advantage? ### Answer: Today typically a Business needs to hold accounts in more than one currency. Banks in certain countries are offering what i...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: what is the meaning of allowing FDI in Insurance and pension funds ### Answer: Insurance in India is offered by Private companies as well [ICICI, Maxbupa, SBI, Max and tons of other companies]. Thes...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What are “upstream investments” and “downstream investments” in this context? ### Answer: Upstream is into businesses that supply the original business; downstream is into businesses that make use of ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I am the sole owner of an LLC. Does it make a difference if I file as an S-Corp or a sole-member LLC? ### Answer: S-Corp are taxed very different. Unlike LLC where you just add the profit to your inco...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I am the sole owner of an LLC. Does it make a difference if I file as an S-Corp or a sole-member LLC? ### Answer: Be careful of the other answers here. Many are wrong or partially wrong. The question ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I am the sole owner of an LLC. Does it make a difference if I file as an S-Corp or a sole-member LLC? ### Answer: I'm assuming that when you say "convert to S-Corp tax treatment" you're not talking ab...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I am the sole owner of an LLC. Does it make a difference if I file as an S-Corp or a sole-member LLC? ### Answer: In the United States, with an S-Corp, you pay yourself a salary from company earnings....
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do the wealthy pay for things? ### Answer: This is second hand information as I am not a millionaire, but I work with such people everyday and have an understanding of how they handle cash: The we...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do the wealthy pay for things? ### Answer: While you would probably not use your ATM card to buy a $1M worth mansion, I've heard urban legends about people who bought a house on a credit card. Whi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do the wealthy pay for things? ### Answer: I was once the personal assistant to two wealthy NYC sisters. They did not pay for anything. For example, if we were riding the subway, I would pay, and ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: As an employer, how do I start a 401k or traditional IRA plan? ### Answer: Here is a nice overview from Vanguard on some options for a small business owner to offer retirement accounts. https://inve...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: As an employer, how do I start a 401k or traditional IRA plan? ### Answer: OK, so first of all, employers don't set up IRAs. IRA stands for Individual Retirement Account. You can set up a personal I...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: As an employer, how do I start a 401k or traditional IRA plan? ### Answer: If you are the sole owner (or just you and your spouse) and expect to be that way for a few years, consider the benefits of a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Acquiring first office clothes ### Answer: While in the interview stage you need one good outfit. Take care of them and they will see you through this stage of the process. Shoes, ties, shirt, and a s...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Acquiring first office clothes ### Answer: Like the other answers, I'm not entirely sure the equivalent exists in your country. But in the US there are thrift stores run by charities like GoodWill or ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Acquiring first office clothes ### Answer: Sounds like you're a man, so you're in luck. Our formalwear all looks similar enough that you can get by on a very short rotation. You can buy 1 pair of dece...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can I import customers and invoices from a previous year's Gnucash file? ### Answer: There does not appear to be a way to export the customers and invoices nor a way to import them into another da...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: us citizen receiving bank transfer from foreign boyfriend ### Answer: No, any gifts you receive are not taxable to you. In fact, losing money in a scam (as this sure sounds like to me) can even be tax...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why does it take 3 days to do electronic transfers between banks? [duplicate] ### Answer: I was perplexed by this until a few days ago when it finally clicked in a meeting with our fraud and money lau...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why does it take 3 days to do electronic transfers between banks? [duplicate] ### Answer: When Laurence Olivier took the role of Douglas Macarthur in the Unification Church's filming of Inchon, he tol...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Swiss-style Monetary Policy ### Answer: This is what is called "weasel words". They're trying to put some authority into their ad, but since they don't have any - they're putting meaningless words tha...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Swiss-style Monetary Policy ### Answer: I'm not sure what is traditionally meant by "Swiss-style monetary policy" but lately it has meant the same thing as US monetary policy, or Japanese monetary pol...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why does capital gains tax apply to long term stock holdings? ### Answer: Why only long term investments? What do they care if I buy and sell shares in a company in the same year? Simple, your actua...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why does capital gains tax apply to long term stock holdings? ### Answer: Most well-off people have investments which they have held for long periods of time, often of very substantial value such as a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why does capital gains tax apply to long term stock holdings? ### Answer: It's a matter of social policy. The government wants people to make long term investments because that would lead to other lon...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why does capital gains tax apply to long term stock holdings? ### Answer: In Australia we have a 50% capital gain discount if you hold the asset for more than 12 months, whether it is in shares, prope...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Self Assessment UK - Goods and services for your own use ### Answer: The problem with your profession is that it is hard to distinguish those activities as 'services rendered' or just a 'pastime hobby...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Self Assessment UK - Goods and services for your own use ### Answer: Work on your own site is certainly not relevant here, that's just a part of your trade, not a service you provided to yourself. The...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Early Retirement Options (UK) ### Answer: It's highly unlikely that you will be able to achieve 8% and would consider myself lucky to get 4% in the current interest rate environment. You might want t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Early Retirement Options (UK) ### Answer: Some people put money into Venture Capital Trusts for the yields they offer. The risks are different and they are considered higher risk than ordinary equitie...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Online accounting with Stripe/PayPal transactions ### Answer: Crickets here, so I'll respond with what I ended up doing. At the end of each month, I download transaction data from each of Stripe and P...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to handle taxes related to affiliate marketing? ### Answer: Is it right that I request form W-9 or form W-8BEN (for non U.S. citizens) from the affiliate users before sending them payments? Not ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How does per-annum depreciation for taxes work after the first year of depreciation? ### Answer: The first method is the correct one. You bought an asset worth of $1000 and you put it on your deprecia...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to categorize shared income? ### Answer: My company did not have income of $1000 and have a $500 expense Why not? Your company received $1000 from you, and based on its agreement with the other co...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How prudent would it be to invest (stocks/equity) in businesses that are based on Cash transactions? ### Answer: If they're hiding their profits from the government, what makes you think they wouldn't...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How prudent would it be to invest (stocks/equity) in businesses that are based on Cash transactions? ### Answer: Every listed company needs to maintain book of accounts, when you are investing in comp...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why buy stock of a company instead of the holding company who has more than 99% of the stocks ### Answer: In a situation like this, I presume you'd invest in the child company if you thought that the ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why buy stock of a company instead of the holding company who has more than 99% of the stocks ### Answer: Also VW has more brands, i.e. is more diversified This isn't necessarily a good thing for inve...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do I have to pay taxes in the US if my online store sells to US customers even though I don't live in the US? ### Answer: You're not physically present in the US, you're not a US citizen, you're not a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is it possible to block previously authorized ACH access? ### Answer: I had a similar situation a while ago, and here's what I learned: What are our options here to ensure that this company can't retr...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can a school club collect money using credit cards? ### Answer: Large and small universities have procedures in place regarding the use of the universities name, logo, facilities, and budget. They...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can a school club collect money using credit cards? ### Answer: You should check with the Office of Student Affairs (or equivalent) at your University to see if you can accept Credit Cards. Many w...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Advantages of Shareholder over Director in new Company ### Answer: I don't know Australian law, but I will give my US perspective here. The custom in the US is for officers and directors to be indemn...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Advantages of Shareholder over Director in new Company ### Answer: I know the general principles of acting as a director in a company, and am familiar with the rights of shareholders. In the last ten ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What options are available for a home loan with poor credit but a good rental history? ### Answer: Why not just do an FHA loan? The minimum credit score is 580, and you can sometimes even go lower tha...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What options are available for a home loan with poor credit but a good rental history? ### Answer: Here are some (not all) things that can help overcome a low credit score: Getting a new job may actua...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What options are available for a home loan with poor credit but a good rental history? ### Answer: Take the long term view. Build up the cash. Once you have enough cash in the bank, you don't need a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can I pay estimated taxes based on last year's taxes if I anticipate more income this year? ### Answer: You're interpreting this correctly. Furthermore, if your total tax liability is less than $1000,...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Multi-state K-1 earnings to S-Corp ### Answer: I'm not sure why you think that it matters that the distribution goes to an S-Corp vs an individual tax payer. You seem to think it has any relevance to ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Bank statements - should I retain hardcopies for tax or other official purposes (or keep digital scanned copies)? ### Answer: In the UK Directgov don't specify anything more than "records", which lead...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Bank statements - should I retain hardcopies for tax or other official purposes (or keep digital scanned copies)? ### Answer: I am in the United States. There is no need to keep the statements in any ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Bank statements - should I retain hardcopies for tax or other official purposes (or keep digital scanned copies)? ### Answer: Digital records are fine, but record-keeping practices are important. Be c...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Multiple SEO companies claiming I have a past-due invoice ### Answer: Reading stuff like this makes me want to go into the debt collection business. Just send letters to random people demanding money....
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Paid part of my state refund back last year; now must declare the initial amount as income? ### Answer: If you get 1099-G for state tax refund, you need to declare it as income only if you took deduct...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Paid part of my state refund back last year; now must declare the initial amount as income? ### Answer: http://www.irs.gov/taxtopics/tc503.html says you can deduct "Any prior year's state or local inc...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Self Employed, but not required to pay estimated taxes? ### Answer: The annualized method allows you to take a look at each quarter independently and pay the tax in the quarter that you earned it. -- ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are services provided to Google employees taxed as income or in any way? ### Answer: Most of this is already regulated. "Food" specifically is exempt from taxes if it's done on premise and for the "co...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are services provided to Google employees taxed as income or in any way? ### Answer: (1). Is this right? Pretty much, though this is a really rudimentary way to think about it. (2). If it is, why is i...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are services provided to Google employees taxed as income or in any way? ### Answer: In many countries, giving something free to the employee is considered a taxable income equivalent, and taxes have ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are services provided to Google employees taxed as income or in any way? ### Answer: Is this right? The example is slightly off. Google would be running a cafeteria that can be subsidized. Employees p...