query_id stringlengths 1 5 | query stringlengths 14 166 | positive_passages listlengths 1 1 | negative_passages listlengths 19 19 |
|---|---|---|---|
0 | What is considered a business expense on a business trip? | [
{
"docid": "18850",
"title": "",
"text": "The IRS Guidance pertaining to the subject. In general the best I can say is your business expense may be deductible. But it depends on the circumstances and what it is you want to deduct. Travel Taxpayers who travel away from home on business may deduct relat... | [
{
"docid": "588509",
"title": "",
"text": "The insurance company is must assume you do have a preexisting condition you are unaware of. The reason for that is that Affordable Care Act precludes the Insurance company from denying coverage of them if you do. Insurance companies are businesses. They are... |
4 | Business Expense - Car Insurance Deductible For Accident That Occurred During a Business Trip | [
{
"docid": "196463",
"title": "",
"text": "As a general rule, you must choose between a mileage deduction or an actual expenses deduction. The idea is that the mileage deduction is supposed to cover all costs of using the car. Exceptions include parking fees and tolls, which can be deducted separately... | [
{
"docid": "98727",
"title": "",
"text": "This is referred to as an HSA Mistaken Distribution. An HSA mistaken distribution occurs when you take a distribution and later find out that it is not for a qualified medical expense. For example, this could occur if you accidentally pay for a restaurant dinne... |
5 | Starting a new online business | [
{
"docid": "69306",
"title": "",
"text": "Most US states have rules that go something like this: You will almost certainly have to pay some registration fees, as noted above. Depending on how you organize, you may or may not need to file a separate tax return for the business. (If you're sole proprieto... | [
{
"docid": "377546",
"title": "",
"text": "\"**Vice Media** Vice Media LLC is a North American digital media and broadcasting company. Originating from the Montreal-based VICE magazine co-founded by Suroosh Alvi, Shane Smith, and Gavin McInnes (who departed the company in 2008), VICE expanded primarily... |
6 | “Business day” and “due date” for bills | [
{
"docid": "560251",
"title": "",
"text": "I don't believe Saturday is a business day either. When I deposit a check at a bank's drive-in after 4pm Friday, the receipt tells me it will credit as if I deposited on Monday. If a business' computer doesn't adjust their billing to have a weekday due date, t... | [
{
"docid": "494583",
"title": "",
"text": "\"The big difference is that you get your money earlier at the start. Suppose you start on a random day with payday on the last day of the month (monthly), or on every 2nd wednesday (biweekly), and it takes 3 days for payroll to \"\"ramp up\"\" (ie, if payday i... |
6 | “Business day” and “due date” for bills | [
{
"docid": "188530",
"title": "",
"text": "You definitely have an argument for getting them to reverse the late fee, especially if it hasn't happened very often. (If you are late every month they may be less likely to forgive.) As for why this happens, it's not actually about business days, but instead ... | [
{
"docid": "509075",
"title": "",
"text": "I have a CapitalOne credit card, and every two or three weeks, CapitalOne Bank sends me checks that can be used almost anywhere (including a deposit into my own checking account if I wish, or to pay taxes or utility bills etc)). The amount thus borrowed is coun... |
6 | “Business day” and “due date” for bills | [
{
"docid": "564488",
"title": "",
"text": "It's likely that your bill always shows the 24th as the due date. Their system is programmed to maintain that consistency regardless of the day of the week that falls on. When the 24th isn't a business day it is good to error on the side of caution and use the ... | [
{
"docid": "432067",
"title": "",
"text": "\"My answer might be out of date due to the Affordable Health Care law. I will answer for the way things were prior to that law taking effect. In my experience, hospitals have a financial assistance program you can apply for. If you can show a financial need,... |
7 | New business owner - How do taxes work for the business vs individual? | [
{
"docid": "411063",
"title": "",
"text": "Through your question and then clarification through the comments, it looks like you have a U.S. LLC with at least two members. If you did not elect some other tax treatment, your LLC will be treated as a partnership by the IRS. The partnership should file a ... | [
{
"docid": "145016",
"title": "",
"text": "These 'issues' don't exclusively relate to the 'sharing economy', the challenge of uncertainty would exist for any small business / independent contractor. It's not as if people didn't work as independent contractors in these industries before, it's just now th... |
9 | Hobby vs. Business | [
{
"docid": "509122",
"title": "",
"text": "Miscellaneous income -- same category used for hobbies."
}
] | [
{
"docid": "546372",
"title": "",
"text": "You better consult with a tax adviser (EA or CPA) on this, my answer doesn't constitute such an advice. Basically, you're selling stuff on Kickstarter. No matter how they call it (projects, pledges, rewards - all are just words), you're selling stuff. People gi... |
9 | Hobby vs. Business | [
{
"docid": "184698",
"title": "",
"text": "\"You can list it as other income reported on line 21 of form 1040. In TurboTax, enter at: - Federal Taxes tab (Personal in Home & Business) - Wages & Income -“I’ll choose what I work on” Button Scroll down to: -Less Common Income -Misc Income, 1099-A, 1099-C... | [
{
"docid": "580542",
"title": "",
"text": "> Google would be forced to actually compete with companies vs. Giving everything away free. That creates employment opportunities for other startups to compete in a fair environment vs. Trying to acquire millions of users on no revenue. TL;DR Don't blame ... |
11 | Personal checks instead of business ones | [
{
"docid": "596427",
"title": "",
"text": "I'll assume you are asking about a check for some kind of work or service that you provided them, that they hired your company to do. No large business will do that. In their records they have a contract with your company to provide services. If they write you ... | [
{
"docid": "438975",
"title": "",
"text": "Goddady.com will gladly accept payment from your personal account. They don't really care, as long as you approve the charge, whose name the account is in. I'm not sure PayPal even check the names on the invoice and the account to match, they just want you to l... |
12 | Does U.S. tax code call for small business owners to count business purchases as personal income? | [
{
"docid": "192516",
"title": "",
"text": "\"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 purchas... | [
{
"docid": "257168",
"title": "",
"text": "\"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 ... |
12 | Does U.S. tax code call for small business owners to count business purchases as personal income? | [
{
"docid": "338700",
"title": "",
"text": "It sounds like something is getting lost in translation here. A business owner should not have to pay personal income tax on business expenses, with the caveat that they are truly business expenses. Here's an example where what you described could happen: Suppo... | [
{
"docid": "113776",
"title": "",
"text": "There are two reasons for incorporating a business in Canada - limiting liability and providing some freedom in structuring your taxes. Since you are asking about taxes, I will restrict myself to that topic. First of all, remember that if you don't make much mo... |
12 | Does U.S. tax code call for small business owners to count business purchases as personal income? | [
{
"docid": "158738",
"title": "",
"text": "Expenses are where the catch is found. Not all expenditures are considered expenses for tax purposes. Good CPAs make a comfortable living untangling this sort of thing. Advice for both of your family members' businesses...consult with a CPA before making big... | [
{
"docid": "447231",
"title": "",
"text": "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, yo... |
13 | How can I register a UK business without providing a business address? | [
{
"docid": "503678",
"title": "",
"text": "You don't have to provide your personal home address per se. You can provide a legal address where Companies house can send across paper correspondence to. Companies house legally requires an address because directors are liable to their shareholders(even if yo... | [
{
"docid": "310103",
"title": "",
"text": "\"It's generally not possible to open a business account in the UK remotely. It's even difficult (near impossible) for a non-resident (even if a citizen) to open a business or personal bank account while visiting the UK. A recent report says that it may be pos... |
14 | What are 'business fundamentals'? | [
{
"docid": "398960",
"title": "",
"text": "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. Fo... | [
{
"docid": "448405",
"title": "",
"text": "We will help to develop your business or selling of your services to national or international customers through the social media at the various platforms such as Facebook, Instagram and much more. We believe over the past decade, there has been a fundamental s... |
16 | Business Investment Loss from prior year | [
{
"docid": "60590",
"title": "",
"text": "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 ... | [
{
"docid": "419926",
"title": "",
"text": "\"Real Estate has historically been the most sound investment of all times. Not only does property consistant increase in value (which is what you want every investment to do), it does so at the highest rate with the lowest risk. Most return on investment (like... |
19 | How can I estimate business taxes / filing fees for a business that has $0 income? | [
{
"docid": "315086",
"title": "",
"text": "Is the business an S-Corp, LLC or Sole Prop? I am going to guess based on the question that it is an LLC that you never closed with the state and you live in a state (NY) that charges a fee for having an LLC in the state in which case you owe those fees to the ... | [
{
"docid": "523564",
"title": "",
"text": "\"While she can certainly get an LLC or EIN, it isn't necessarily required or needed. She can file as a sole-proprietor on her (or your joint) taxes by filling out a schedule-C addition to the 1040. Any income or losses will pass through to your existing inco... |
19 | How can I estimate business taxes / filing fees for a business that has $0 income? | [
{
"docid": "142623",
"title": "",
"text": "\"You need to hire a tax professional and have them sort it out for you properly and advise you on how to proceed next. Don't do it yourself, you're way past the stage when you could. You're out of compliance, and you're right - there are penalties that a profe... | [
{
"docid": "251649",
"title": "",
"text": "\"The Form 1040 (U.S. tax return form) Instructions has a section called \"\"Do You Have To File?\"\". Below a certain income, you are not required to file a tax return and pay any tax. This amount of income at which you are required to file depends on severa... |
20 | Would the purchase of a car for a business through the use of a business loan be considered a business expense? | [
{
"docid": "447231",
"title": "",
"text": "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, yo... | [
{
"docid": "476763",
"title": "",
"text": "\"When your dream car is not just 200 times your disposable income but in fact 200 times your whole monthly salary, then there is no way for you to afford it right now. Any attempt to finance through a loan would put you into a debt trap you won't ever dig your... |
21 | Deducting last years (undocumented) side business loss | [
{
"docid": "497642",
"title": "",
"text": "You should speak to a good tax adviser. The less documentation you have the more problems IRS are going to cause you. Generally you can deduct business losses (in the year they occurred, which is 2011), but you have to show that that was a valid business, not j... | [
{
"docid": "79411",
"title": "",
"text": "\"This is not an end-all answer but it'll get you started I have been through accounting courses in college as well as worked as a contractor (files as sole proprietor) for a few years but IANAA (I am not an accountant). Following @MasonWheeler's answer, if you'... |
23 | 30% share in business | [
{
"docid": "550624",
"title": "",
"text": "Keep in mind a good lawyer will have the contract cover the five D's: Its really best to lay these things out ahead of time. I watched, first hand, two friends start a business. When they were broke and struggling the worked very well together. Then the mone... | [
{
"docid": "514970",
"title": "",
"text": "You didn't mention a country, and precise rules will be different from country to country. The usual rules are: Shares that you didn't sell don't count. If you buy shares, there is no taxable gain until you sell them. When you sell shares, it is assumed that ... |
23 | 30% share in business | [
{
"docid": "32102",
"title": "",
"text": "Get involved a lawyer and Accountant. Without it you may not be sure what you are getting. What exactly will 30% mean for me? It will mean exactly what gets written in contract. It can mean you are owner of 30% of the company. If this is structured as partnershi... | [
{
"docid": "573077",
"title": "",
"text": "\"Being \"\"Long\"\" something means you own it. Being \"\"Short\"\" something means you have created an obligation that you have sold to someone else. If I am long 100 shares of MSFT, that means that I possess 100 shares of MSFT. If I am short 100 shares of... |
25 | Claiming business expense from personal credit card | [
{
"docid": "107584",
"title": "",
"text": "or just input it in my accounting software along with receipts, and then when I'm doing taxes this would go under the investment or loses (is it somewhere along that line)? Yes, this. Generally, for the long term you should have a separate bank account and ... | [
{
"docid": "114494",
"title": "",
"text": "I would try to avoid mixing business expenditure with personal expenditure so a second credit card might be a good idea. That said, I did get a business credit card for my company in the UK as I didn't want to be personally liable for the money that was spent o... |
25 | Claiming business expense from personal credit card | [
{
"docid": "562777",
"title": "",
"text": "There is no law that requires you to have a separate bank account for your business, or to pay all expenses from a business bank account. It is a GOOD IDEA to have a separate bank account and pay all business expenses from that account and all personal expenses... | [
{
"docid": "114494",
"title": "",
"text": "I would try to avoid mixing business expenditure with personal expenditure so a second credit card might be a good idea. That said, I did get a business credit card for my company in the UK as I didn't want to be personally liable for the money that was spent o... |
27 | Using business check to pay at retail | [
{
"docid": "537326",
"title": "",
"text": "You can just buy the items personally and then submit an expense report to the company to get reimbursed. Keep all the receipts. Paying with a company check is also fine, but you might run into problems with stores not accepting checks."
}
] | [
{
"docid": "155131",
"title": "",
"text": "\"Let me just add that while you don't need to write the date received on the back of the check, you could. Why? Let's say someone was late in paying you and you wanted to document the fact that they were late. I've had late-paying customers send me a check dat... |
28 | Tax whilst starting a business in full time employment | [
{
"docid": "250640",
"title": "",
"text": "With a limited company, you'll have to pay yourself a salary through PAYE. With income from your other job taking you over the higher-rate threshold, you should inform HMRC of this and get a tax code of DO for the second job, meaning 40% tax (and also both empl... | [
{
"docid": "92370",
"title": "",
"text": "\"The only way to know the specific explanation in your situation is to ask your employer. Different companies do it differently, and they will have their reasons for that difference. I've asked \"\"But why is it that way?\"\" enough times to feel confident in t... |
30 | Can I pay off my credit card balance to free up available credit? | [
{
"docid": "551175",
"title": "",
"text": "Is it possible to pay off my balance more than once in a payment period in order to increase the amount I can spend in a payment period? Yes you can pay off the balance more than once even if its not due. This will get applied to outstanding and you will be abl... | [
{
"docid": "300990",
"title": "",
"text": "Note: the question is tagged united kingdom, this is a UK focussed answer practices elsewhere may be different). A balance transfer moves your debt from one credit card to another. This can be a good way to get a debt onto a lower (often zero) interest rate. T... |
30 | Can I pay off my credit card balance to free up available credit? | [
{
"docid": "434082",
"title": "",
"text": "Banks only send your balance to credit bureaus once a month; usually a few days after your statement date. Thus, as long as your usage is below 10% in that date range, you're ok. Regarding paying it off early: sure. Every Sunday night, I pay our cards' charge... | [
{
"docid": "76149",
"title": "",
"text": "\"Congratulations! It sounds like you're off to a good start. Establishing credit history and starting a Roth IRA now and getting some investment in at this point is likely to save you a great deal later on. A good way to diversify investments in a Roth IRA i... |
30 | Can I pay off my credit card balance to free up available credit? | [
{
"docid": "336922",
"title": "",
"text": "Is it possible to pay off my balance more than once in a payment period in order to increase the amount I can spend in a payment period? Yes, but you should only do that if you expect an expense that is larger than your limit allows. Then, provide an extra paym... | [
{
"docid": "143596",
"title": "",
"text": "\"Your total debt is equal to your total non-credit debt (student loans, car loans) + your total available credit. This is the truth of the \"\"low balance\"\" fear from lenders that you had heard about. Your credit utilization is across all of your cards. ... |
30 | Can I pay off my credit card balance to free up available credit? | [
{
"docid": "19233",
"title": "",
"text": "The card you have is one where you had to deposit an amount equivelent to your card limit -a secured limit credit card. Capital One is one if the primary cards of this type. The typical rules of credit card usage and building your credit, do not apply. So, yes... | [
{
"docid": "574065",
"title": "",
"text": "\"The fact that you pay the bill reliably is going to count more for your credit rating than anything else, even if you are paying it off in full every month. Lenders seem to like to see at least one instance where you charged a large balance, held it a couple ... |
31 | Starting a side business slowly | [
{
"docid": "156554",
"title": "",
"text": "\"This is a great question! I've been an entrepreneur and small business owner for 20+ years and have started small businesses in 3 states that grew into nice income streams for me. I've lived off these businesses for 20+ years, so I know it can be done! First ... | [
{
"docid": "173790",
"title": "",
"text": "\"One factor to consider is timing. If you set up the automatic payments through the bank that holds the mortgage (I'll call them the \"\"receiving\"\" bank), they will typically record the transactions as occurring on the actual dates you've set up the automat... |
32 | Why is “cheque cashing” a legitimate business? | [
{
"docid": "279480",
"title": "",
"text": "\"This answer is based on my understanding of the US banking system. We have check cashing businesses here too, which are just like what you describe, except for the spelling :-) Let's consider what \"\"cash it for free at the bank\"\" really means, and why it... | [
{
"docid": "567201",
"title": "",
"text": "\"A bona-fide company never needs your credit card details, certainly not your 3-digit-on-back-of-card #, to issue a refund. On an older charge, they might have to work with their merchant provider. But they should be able to do it within the credit card hand... |
32 | Why is “cheque cashing” a legitimate business? | [
{
"docid": "69623",
"title": "",
"text": "\"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 ... | [
{
"docid": "505959",
"title": "",
"text": "\"Yes. The US Mint has a deal where you can buy dollar coins for face value, free shipping and can charge them to your card. They come in small boxes of 10 x $25 rolls of coins. I'm sure your landlord will be happy to accept cash for the rent. Upon further ref... |
32 | Why is “cheque cashing” a legitimate business? | [
{
"docid": "84645",
"title": "",
"text": "\"How does this get any business? You'd be surprised on how much profit these type of businesses can bring in and the number of people who cash their checks this way. They make profit off people who want their checks cashed ASAP. Usually cheques written to \"\"c... | [
{
"docid": "416661",
"title": "",
"text": "Another, perhaps simpler approach to the same result as @BenMiller. Firstly, if you can pay off the debt today, for 1695.70 cash, then that is the amount of your debt to the hospital. There is no such thing as a discount for cash; just extra money to pay if do... |
33 | Is business the only way to become a millionaire? | [
{
"docid": "519798",
"title": "",
"text": "\"Not at all. The Millionaire Next Door offers a book full of anecdotes on couples that earned money and saved their way to being millionaires. I believe about 1/3 or so had businesses, but the rest were employed and simply saved wisely. $3860/yr saved for 40 ... | [
{
"docid": "133102",
"title": "",
"text": "Yes, you can indeed become rich by investing even small amounts over time. Let's say that you begin with nothing invested, and you start investing $100 per week. Suppose you choose to put your money in an S&P 500 index mutual fund. The CAGR (Compound Annual Gro... |
33 | Is business the only way to become a millionaire? | [
{
"docid": "425387",
"title": "",
"text": "That's actually a pretty good way to get bankrupt quick. You can get rich quick through lottery, gambling, mere saving or investing wisely, or marrying someone from the Kennedy or Bush clans. Starting a business is one of the ways to become a millionaire, but d... | [
{
"docid": "158614",
"title": "",
"text": "\"Theres some major logic missing from this report, it didnt mention how technology is disrupting how everything is being distributed. As businesses become more efficient with technological advances and less dependent on human capital, then so must humans becom... |
35 | Valuing a small business to invest in | [
{
"docid": "498681",
"title": "",
"text": "There is nothing fair / unfair in such deals. It is an art than a science. what kind of things should be considered, to work out what would be a fair percentage stake A true fair value is; take the current valuation of the company [This can be difficult if it ... | [
{
"docid": "400751",
"title": "",
"text": "You need experience. Work in retail, hopefully to some sort of managerial level where you get to see behind the scenes and not just manage associates. If you're really gung-ho about it and willing to take a big risk, I've heard many people say the same reason ... |
35 | Valuing a small business to invest in | [
{
"docid": "80913",
"title": "",
"text": "\"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... | [
{
"docid": "76695",
"title": "",
"text": "I don't have any experience in this, but this is my academic understanding of business pricing. The LOWEST amount a seller would accept is the liquidation value. For a B&B, what would the value of the land, the house, the furnishings, accounts payable, etc. be ... |
36 | Starting a large business with a not so large income? | [
{
"docid": "275249",
"title": "",
"text": "\"There are three (or four) ways that a company can grow: (Crowdfunding is a relatively new (in mainstream businesses) alternative financing method where people will finance a company with the expectation that they will benefit from the product or service that ... | [
{
"docid": "231183",
"title": "",
"text": "Lots of president also had business operations. None that I know of were ever forced to stop running their businesses. Washington and Jefferson both ran large farms and sold to oversea customers. Either way, this bill would never pass. Every congressperson ... |
36 | Starting a large business with a not so large income? | [
{
"docid": "368649",
"title": "",
"text": "\"For example, Biff Spoiles started an animation studio and production developing company to produce animations -- something in the ballpark of $12,000,000.00 U.S.D. -- and he had a $12K/yearly salary. I have no clue what you mean, as others have mentioned. (I'... | [
{
"docid": "408546",
"title": "",
"text": "\"With regards to \"\"the stock market,\"\" there are actually two markets involved here: PRIMARY MARKET Value is created in the primary market where capital is exchanged for a residual interest in an opportunity. As a theoretical example, if a person operatin... |
37 | Requirements for filing business taxes? | [
{
"docid": "523564",
"title": "",
"text": "\"While she can certainly get an LLC or EIN, it isn't necessarily required or needed. She can file as a sole-proprietor on her (or your joint) taxes by filling out a schedule-C addition to the 1040. Any income or losses will pass through to your existing inco... | [
{
"docid": "44955",
"title": "",
"text": "Transferring money you own from one place to another pretty much never has tax implications. It might have other implications, including requirement to report it. Being a US citizen has tax implications, including the requirement to file US tax forms for the res... |
41 | IRA for work and my business | [
{
"docid": "176229",
"title": "",
"text": "Yes, you can have both. You'll need business income to contribute to a SEP IRA though."
}
] | [
{
"docid": "396257",
"title": "",
"text": "All the answers that show the equivalency of 401(k) pre-tax and Roth 401(k) post-tax using equivalent contributions are correct assuming equivalent tax rates upon withdrawal. There is some potential gain if your tax rate upon retirement is higher than your work... |
43 | Advice on money transfer business | [
{
"docid": "76662",
"title": "",
"text": "\"As soon as I see the word \"\"friends\"\" along with money transfer I think scam. But ignoring that red flag.... You will have American companies reporting to the IRS that you are a Canadian Vendor they have hired. Then you are transferring money to people in ... | [
{
"docid": "186029",
"title": "",
"text": "Each bank builds or buys their own bill pay system, so answers are not universal (try your banks bill pay system out before fully transferring over, if I didn't like mine I'd get a new bank), but for your questions in order: Other things to consider include: Ch... |
45 | How to transfer personal auto lease to business auto lease? | [
{
"docid": "284610",
"title": "",
"text": "I'd approach the lender that you're getting the lease from, but be prepared for them either saying 'no' to putting the lease into the name of an LLC without any proven track record (because it hasn't been around for a while) or require you to sign a personal gu... | [
{
"docid": "173790",
"title": "",
"text": "\"One factor to consider is timing. If you set up the automatic payments through the bank that holds the mortgage (I'll call them the \"\"receiving\"\" bank), they will typically record the transactions as occurring on the actual dates you've set up the automat... |
45 | How to transfer personal auto lease to business auto lease? | [
{
"docid": "261220",
"title": "",
"text": "See what the contract says about transfers or subleases. A lease is a credit agreement, so the lessor may not allow transfers. You probably ought to talk to an accountant about this. You can probably recognize most of the costs associated with the car without ... | [
{
"docid": "396662",
"title": "",
"text": ">If everyone in auto manufacturing labor was replaced by a cheap robot tomorrow, then cars would be cheaper. Why? *All* the auto manufacturers installed robots, so they've *all* got the same incentive to keep prices the same and pocket the additional produ... |
46 | Tutoring Business Payroll Management | [
{
"docid": "91325",
"title": "",
"text": "\"This is going to depend on the tax jurisdiction and I have no knowledge of the rules in Illinois. But I'd like to give you some direction about how to think about this. The biggest problem that you might hit is that if you collect a single check and then di... | [
{
"docid": "307206",
"title": "",
"text": "One aspect that may not be obvious - if you contribute to an HSA through payroll deduction, it comes out before the Social Security (6.2%) and Medicare (1.45%) taxes. Since a payroll contribution reduces your taxes by 7.65%, it's generally the better option."
... |
47 | As a small business owner, should I pay my taxes from my personal or business checking account? | [
{
"docid": "133299",
"title": "",
"text": "Payment of taxes for your personal return filed with the IRS always come from your personal account, regardless of how the money was earned. Sales tax would be paid from your business account, so would corporate taxes, if those apply; but if you're talking abou... | [
{
"docid": "397920",
"title": "",
"text": "I heard that a C-Corp being a one person shop (no other employees but the owner) can pay for the full amount 100% of personal rent if the residence is being used as a home office. Sure. Especially if you don't mind being audited. Technically, it doesn't matter ... |
48 | Should my husband's business pay my business? | [
{
"docid": "108062",
"title": "",
"text": "It depends on the finances involved, but particularly if you're not billing anything right now and may have no revenue this year, it's probably a good idea to bill his company. This is in part because some deductions or other tax treatments are only allowed if ... | [
{
"docid": "352640",
"title": "",
"text": "I am surprised no one has mentioned the two biggest things (in my opinion). Or I should say, the two biggest things to me. First, 1099 have to file quarterly self employment taxes. I do not know for certain but I have heard that often times you will end up p... |
48 | Should my husband's business pay my business? | [
{
"docid": "401260",
"title": "",
"text": "\"Is it worth it for me to \"\"charge\"\" him? I can think of two reasons why you might want to charge your husband:\""
}
] | [
{
"docid": "130350",
"title": "",
"text": "I think it depends a lot on your idea of how you should relate to your neighbors. Personally, I think that I should be allowed to do just about whatever I want with my property, and I grant my neighbor the same right. If my neighbor wants to paint his house pur... |
48 | Should my husband's business pay my business? | [
{
"docid": "329810",
"title": "",
"text": "\"I agree with some of the points of the other answers but why not avoid all the guesswork? I highly recommend you not charge him now. Wait until the end of the year when you have much more information about both of your companies and then you can run the numbe... | [
{
"docid": "97719",
"title": "",
"text": "\"Disclaimer: This should go without saying, but this answer is definitely an opinion. (I'm pretty sure my current accountant would agree with this answer, and I'm also pretty sure that one of my past accountants would disagree.) When I started my own small busi... |
48 | Should my husband's business pay my business? | [
{
"docid": "512151",
"title": "",
"text": "Just from my own experience (I am not an accountant): In addition to counting as 'business income' (1040 line 12 [1]) your $3000 (or whatever) will be subject to ~15% self-employment tax, on Schedule SE. This carries to your 1040 line ~57, which is after all y... | [
{
"docid": "143405",
"title": "",
"text": "\"If the country went to a sustainable minimum wage like 15 dollars an hour we would benefit more. Anyone who thinks the walmart strikes are stupid and they should be fired clearly doesnt understand how the economy should work. Oh? You do know that all basic ... |
49 | Why can't online transactions be completed outside of business hours? | [
{
"docid": "352927",
"title": "",
"text": "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).... | [
{
"docid": "355592",
"title": "",
"text": "\"There absolutely is a specific model that makes this so popular with so many credit card companies, and that model is \"\"per transaction fees\"\". Card companies also receive cost-sharing incentives from certain merchants. There is also a psychological reaso... |
51 | Full-time work + running small side business: Best business structure for taxes? | [
{
"docid": "107817",
"title": "",
"text": "You should look into an LLC. Its a fairly simple process, and the income simply flows through to your individual return. It will allow you to deduct supplies and other expenses from that income. It should also protect you if someone sues you for doing shoddy... | [
{
"docid": "99986",
"title": "",
"text": "> Texas didn't create jobs, it moved jobs. Corporations moved workers to Texas due to the lure of poverty wages for Texas created many jobs, and one way of job creation is to make it pleasant for business and entrepreneurs to flourish. They don't flourish w... |
51 | Full-time work + running small side business: Best business structure for taxes? | [
{
"docid": "257168",
"title": "",
"text": "\"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 ... | [
{
"docid": "373192",
"title": "",
"text": "This is not a supply side issue (bank), but a demand side (small business) and there is simply no demand. Bank CEOs have been repeating that there is just no interest in borrowing right now, they would love to lend, but businesses are not taking the loans. ... |
51 | Full-time work + running small side business: Best business structure for taxes? | [
{
"docid": "75195",
"title": "",
"text": "I have a very similar situation doing side IT projects. I set up an LLC for the business, created a separate bank account, and track things separately. I then pay myself from the LLC bank account based on my hours for the consulting job. (I keep a percentage ... | [
{
"docid": "376103",
"title": "",
"text": "In any business keeping your customers happy is one thing, turining them into advocates for you is another. On the other side of this I knew a person who happened to be the owner and CEO of a multimillion dollar business he built from the ground up. He was incr... |
52 | New vending route business, not sure how to determine taxes | [
{
"docid": "566417",
"title": "",
"text": "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... | [
{
"docid": "538641",
"title": "",
"text": "My district wasn't a rich district. There were plenty of cheap houses, and I can't even think of a rich housing area in my district. Besides, I was offering a different solutions from moving to an entirely new country. I'm pretty sure if you can afford to mov... |
52 | New vending route business, not sure how to determine taxes | [
{
"docid": "125111",
"title": "",
"text": "\"Actually, calculating taxes isn't that difficult. You will pay a percentage of your gross sales to state and local sales tax, and as a single-owner LLC your profits (after sales taxes) should pass through to your individual tax tax return (according to this ... | [
{
"docid": "378110",
"title": "",
"text": "\"In general, scholarship income that you receive that is not used for tuition or books must be included in your gross income and reported as such on your tax return. Scholarship income you receive that is used for those kinds of expenses may be excludable fro... |
53 | Finding a good small business CPA? | [
{
"docid": "84077",
"title": "",
"text": "Ask your colleagues! I know that sounds obvious, but just go to where people who do your sort of business hang out (or better, find some venture capital firms and ask their portfolio companies). It's not something people would keep secret from you..."
}
] | [
{
"docid": "141458",
"title": "",
"text": "\"Not really, no. The assumption you're making—withdrawals from a corporation are subject to \"\"[ordinary] income tax\"\"—is simplistic. \"\"Income tax\"\" encompasses many taxes, some more benign than others, owing to credits and exemptions based on the kind ... |
53 | Finding a good small business CPA? | [
{
"docid": "562798",
"title": "",
"text": "Check your local better business bureau. They can tell you who is in business, who's bonded, and who has had a lot of complaints levied against them for shoddy practices."
}
] | [
{
"docid": "129355",
"title": "",
"text": "\"The tax system in general, and income tax in particular, is used for several purposes at once. One of those purposes is to raise money to run the government. It isn't the only purpose of income tax, and income tax isn't the only source of money to run the gov... |
53 | Finding a good small business CPA? | [
{
"docid": "102362",
"title": "",
"text": "People to ask: Granted I live in a small town, but when the same guy's name comes up more than once that's who you should hire..."
}
] | [
{
"docid": "61947",
"title": "",
"text": "I would look for business broker websites and start searching there to get an idea what they cost. If you're interested in running one I would strongly suggest finding someone who does that can mentor you or working as a manager for a couple of years. Small b... |
53 | Finding a good small business CPA? | [
{
"docid": "323269",
"title": "",
"text": "Ask for at least 10 references. Ask for 10 because it will be harder for them to refer you to ringer references like their family or friends."
}
] | [
{
"docid": "338545",
"title": "",
"text": "Assuming your country is the United States there is. See schedule C line 9 and the corresponding instructions. There are many rules associated with this, in some cases the entire purchase can be written off but typically if the truck is only used for busines... |
53 | Finding a good small business CPA? | [
{
"docid": "119308",
"title": "",
"text": "I have had better experiences with accountants in smaller towns. It seems they are used to working with small businesses and their reputation is very important to them."
}
] | [
{
"docid": "92819",
"title": "",
"text": "I was only able to find Maryland form 1 to fit your question, so I'll assume you're referring to this form. Note the requirement: Generally all tangible personal property owned, leased, consigned or used by the business and located within the State of Maryland... |
53 | Finding a good small business CPA? | [
{
"docid": "184852",
"title": "",
"text": "The first place to look for an accountant is the American Institute of Certified Public Accountants which has a directory of CPAs, accounting companies, and local accounting societies. I was also looking for one for my own small firm. It really helps."
}
] | [
{
"docid": "318260",
"title": "",
"text": "\"Besides money and time lost, it is pretty clear that most tax advisors are not well versed in non-resident taxes. It seems that their main clients are either US residents or H1B workers (who are required to file as residents). I share your pain on this on... |
53 | Finding a good small business CPA? | [
{
"docid": "119210",
"title": "",
"text": "Consult your local Small Business Administration office - they may have resources that can help you find what you're looking for."
}
] | [
{
"docid": "572242",
"title": "",
"text": "I did not file taxes on last season winnings as I’ve received conflicting advise (particularly regarding self-employment taxes). I have all my documentation to support my winnings should I file as a professional gambler. Oh dear. Get a GOOD tax adviser (l... |
53 | Finding a good small business CPA? | [
{
"docid": "176196",
"title": "",
"text": "Look for an accountant who brings not only expertise in number crunching, but consulting and business planning - a full package."
}
] | [
{
"docid": "267609",
"title": "",
"text": "You setup a self-directed solo 401k by paying a one time fee for a company to setup a trust, name you the sole trustee, and file it with the IRS. None of these companies offer TPA because it opens them up to profit leaching liability. After you have your trust ... |
54 | Taxable income on full-time job + business earnings | [
{
"docid": "590775",
"title": "",
"text": "In Australia, any income you earn is taxable despite where it came from. Using your example your taxable income is $70,000. Keep in mind that with a business even as a sole trader any business expenses that contribute to the earning of your business income is d... | [
{
"docid": "199785",
"title": "",
"text": "Government's tax citizens and businesses in their currency. Earnings (even earnings in cryptocurrencies) are taxable income."
},
{
"docid": "297878",
"title": "",
"text": ">Says who? Says the business that created the position. Are they loo... |
54 | Taxable income on full-time job + business earnings | [
{
"docid": "109546",
"title": "",
"text": "I'm not sure I am fully understanding the nuance of your question, but based on your answer in the comments you and your business are not separate legal entities. So your income is the full $70K, there is no distinct business to have income. If you clarify your... | [
{
"docid": "216789",
"title": "",
"text": "\"The standard is actually 30 hours a week over a given period of time (3-12 months of the previous taxable year). The interesting problem for the prototypical employer who wants to offer benefits to as few employees as possible is ERISA Sec. 510. According t... |
54 | Taxable income on full-time job + business earnings | [
{
"docid": "511651",
"title": "",
"text": "Possible alternative: In my case, the part-time locksmithing is a small enough portion of my I come that I just submit it as hobby income, rather than trying to track it as a separate entity."
}
] | [
{
"docid": "295153",
"title": "",
"text": "\"Keep in mind that all of the information below assumes: That being said, here are some examples of national tax laws relating to barter transactions. Obviously this isn't an exhaustive list, but based on my grossly non-representative sample, I think it's fair... |
57 | How can I lookup the business associated with a FEIN? | [
{
"docid": "203633",
"title": "",
"text": "I think much of that info is hidden behind pay-walls. Here is one site I've found. http://www.feinsearch.com/ Another that is for non-profits only is guidestar. http://www.guidestar.org/rxg/products/nonprofit-data-solutions/product-information/guidestar-premiu... | [
{
"docid": "214665",
"title": "",
"text": "If you can make all the employees feel superior in some way on a regular basis, they may start to associate feeling good with being at work. Whether they see that as humor or as inspiration, it's probably good for business."
},
{
"docid": "233922",
... |
57 | How can I lookup the business associated with a FEIN? | [
{
"docid": "391403",
"title": "",
"text": "\"In most cases you cannot do \"\"reverse lookup\"\" on tax id in the US. You can verify, but for that you need to have more than just the FEIN/SSN. You should also have a name, and some times address. Non-profits, specifically, have to publish their EIN to don... | [
{
"docid": "400751",
"title": "",
"text": "You need experience. Work in retail, hopefully to some sort of managerial level where you get to see behind the scenes and not just manage associates. If you're really gung-ho about it and willing to take a big risk, I've heard many people say the same reason ... |
57 | How can I lookup the business associated with a FEIN? | [
{
"docid": "77818",
"title": "",
"text": "If the organization is a non-profit. You can search by EIN on Charity Navigator's website FOR FREE. https://www.charitynavigator.org/"
}
] | [
{
"docid": "524879",
"title": "",
"text": "\"Yes, your business needs to be in the business of making money in order for you to deduct the expenses associated with it. I suppose in theory this could mean that if you take in $10,000 and spend $30,000 every year, you not only don't get a net deduction of ... |
57 | How can I lookup the business associated with a FEIN? | [
{
"docid": "226530",
"title": "",
"text": "If it is Texas company, you can try doing a taxable entity search on the Texas Comptroller website."
}
] | [
{
"docid": "59782",
"title": "",
"text": "'Seems to me that a private business ought to have the right to do exactly this and more if they wish. They do not owe anyone a job, nor is the applicant obligated to work there. If they wish to make religious adherence, color, gender, sexuality, attractivenes... |
59 | Tax Allocation - Business Asset Transfer | [
{
"docid": "71601",
"title": "",
"text": "\"And my CPA is saying no way, it will cost me many thousands in taxes and doesn't make any sense. I'd think so too. It looks like it converts from capitol gains at 14% to something else at about 35% Can be, if your gain under the Sec.1231 rules is classified ... | [
{
"docid": "499166",
"title": "",
"text": "It's all about risk. These guidelines were all developed based on the risk characteristics of the various asset categories. Bonds are ultra-low-risk, large caps are low-risk (you don't see most big stocks like Coca-Cola going anywhere soon), foreign stocks are ... |
61 | How to Deduct Family Health Care Premiums Under Side Business | [
{
"docid": "524134",
"title": "",
"text": "\"No, not on schedule C, better. Its an \"\"above the line\"\" deduction (line 29 on your 1040). Here's the turbo tax article on it. The instructions for this line set certain limitations that you must take into the account, and yes - it is limited to the net p... | [
{
"docid": "588416",
"title": "",
"text": "Canada here. Want to know how we spend about $4600 (USD)/per per person to cover every single person while you guys spend $9700 USD per person for spotty coverage? We nationalized most of the system. Hospitals? Bought out by the government in the 1970's. Insura... |
62 | Claiming car as a business expense in the UK | [
{
"docid": "34810",
"title": "",
"text": "\"I'm going to look just at purchase price. Essentially, you can't always claim the whole of the purchase price (or 95% your case) in the year (the accounting period) of purchase, but you get a percentage of the value of the car each year, called writing down al... | [
{
"docid": "458930",
"title": "",
"text": "Some proportion of the costs of a policy have little to no relationship to miles driven. Think of costs of underwriting, and more especially sales/marketing/client acquisition costs (auto insurance isn't in the same league as non-term life insurance (where the... |
63 | Do I need to keep paper records for my business? | [
{
"docid": "509617",
"title": "",
"text": "Scanned or electronic copies of invoices should be sufficient as long as they are accurate and you can deliver them during an audit. Also, if you have an accountant prepare your taxes you would either need to provide them a copy of the invoices or a summary of ... | [
{
"docid": "452996",
"title": "",
"text": "Where do you get them? We have a ton we're clearing out to move from my grandpa. Some Beatles and earlier from my mom and lots of heavy old foxtrot and similar records from grandpa (victor, Decca records, nice heavy weight, in their original papers). Trying ... |
64 | 1040 Schedule A Un-Reimbursed Business Expense Reporting | [
{
"docid": "391619",
"title": "",
"text": "It would be unusual but it is possible that the expenses could be very high compared to your income. The IRS in pub 529 explains the deduction. You can deduct only unreimbursed employee expenses that are: Paid or incurred during your tax year, For carrying on y... | [
{
"docid": "146657",
"title": "",
"text": "Yes, you should be able to deduct at least some of these expenses. For expense incurred before you started the business: What Are Deductible Startup Costs? The IRS defines “startup costs” as deductible capital expenses that are used to pay for: 1) The cost of ... |
65 | Why do banks require small businesses to open a business bank account instead of a cheaper personal one? | [
{
"docid": "580624",
"title": "",
"text": "The bank won't let you because: Differences in required account features — Business accounts have different features (many of them legal features) that are required by businesses. For instances: Do you want to be able to deposit cheques that are written out to ... | [
{
"docid": "300121",
"title": "",
"text": "You don't have to create a PayPal account in order to buy from a merchant that uses PayPal for processing their payments. You can use your credit card just like with any other purchase. Creating a PayPal business account is, as you say, mainly for businesses w... |
65 | Why do banks require small businesses to open a business bank account instead of a cheaper personal one? | [
{
"docid": "109203",
"title": "",
"text": "You could, but the bank won't let you... If you're a sole proprietor - then you could probably open a personal account and just use it, and never tell them that is actually a business. However, depending on your volume of operations, they may switch you on thei... | [
{
"docid": "543463",
"title": "",
"text": "The likely outcome of adding extra money to your escrow account is that the bank will send you a check for excess funds at the end of the year (or whenever your property tax and insurance payments are processed). Could you just redeposit that money immediately?... |
66 | How to treat miles driven to the mechanic, gas station, etc when calculating business use of car? | [
{
"docid": "397608",
"title": "",
"text": "I contacted Stephen Fishman, J.D., the author of Home Business Tax Deductions, to let him know that this question was missing from his book. He was kind enough to send a reply. My original phrasing of the question: If your car is used for both business and pers... | [
{
"docid": "210187",
"title": "",
"text": "Back when I was 25 and living near Kansas City, I would put 500-700 miles on my car almost every weekend traveling to other places like Omaha, St. Louis, Iowa City, occasionally Minneapolis, once to Fargo, and one longer trip all the way to Virginia... There's ... |
66 | How to treat miles driven to the mechanic, gas station, etc when calculating business use of car? | [
{
"docid": "540395",
"title": "",
"text": "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 expens... | [
{
"docid": "582521",
"title": "",
"text": "If I have a 200-300 mile range EV, then the only time I ever have to worry about the inconvenience of charging up is on a cross country trip. For the other 50 weeks of the year, I don't require the convenience of a gas station, other than to buy beer."
},
... |
66 | How to treat miles driven to the mechanic, gas station, etc when calculating business use of car? | [
{
"docid": "405412",
"title": "",
"text": "Since you are using the percentage method to determine the home/business use split, I would think that under most circumstances the distance driven to get your car from the dealership to home, and from home to mechanic and back would be less than 1% of the tota... | [
{
"docid": "403610",
"title": "",
"text": "its not about ruin, its about less and less incentive through decreased net profits. Your business yields 50% net profits off the gross? Acceptable. Through increased liability it yields only 40%? Less incentive. If I told you your paycheck would remain the s... |
67 | value of guaranteeing a business loan | [
{
"docid": "370815",
"title": "",
"text": "The guarantee's value to you is whatever you have to pay to get the guarantee, assuming that you don't decide it's too expensive and look for another guarantor or another solution entirely. How much are you willing to pay for this loan, not counting interest an... | [
{
"docid": "333755",
"title": "",
"text": "\"There are many different methods for a corporation to get money, but they mostly fall into three categories: earnings, debt and equity. Earnings would be just the corporation's accumulation of cash due to the operation of its business. Perhaps if cash was ne... |
67 | value of guaranteeing a business loan | [
{
"docid": "294864",
"title": "",
"text": "The standard goal of valuing anything is to seek the fair price for that thing in the open market. Depending on what is being valued, that may or may not be an easy task. eg: to value your home, get a real estate appraiser, who will look at recent market sales ... | [
{
"docid": "592325",
"title": "",
"text": "\"Several student loans are backed by government guarantee and this will allow you to get attractive rates. This may require them to consolidate the three classes of loans separately. Many commercial banks offer consolidation services, one example is Wachovia d... |
67 | value of guaranteeing a business loan | [
{
"docid": "18792",
"title": "",
"text": "\"You are confining the way you and the other co-founders are paid for guaranteeing the loan to capital shares. Trying to determine payments by equity distribution is hard. It is a practice that many small companies particularly the ones in their initial stage f... | [
{
"docid": "131131",
"title": "",
"text": "A rather good IRS paper on the topic states that a donation of a business' in-kind inventory would be Under IRC 170(e)(1), however, the fair market value must be reduced by the amount of gain that would not be long-term capital gain if the property had bee... |
67 | value of guaranteeing a business loan | [
{
"docid": "511571",
"title": "",
"text": "You should ask the bank supplying the SBA loan about the % of ownership that is required to personally guarantee the loan. Different banks give different figures, but I believe the last time I heard about this it was 20% or more owners must personally guarantee... | [
{
"docid": "410431",
"title": "",
"text": "Thinking of personal residence as investment is how we got the bubble and crash in housing prices, and the Great Recession. There is no guarantee that a house will appreciate, or even retain value. It's also an extremely illiquid item; selling it, especially if... |
69 | Deducting business expenses paid for by gift card | [
{
"docid": "378484",
"title": "",
"text": "To quote the answer you linked to: 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 up on a bank or CC statement. So, if your business purchased the $1000 gift card f... | [
{
"docid": "443859",
"title": "",
"text": "On form 8829, line 20 you can list utilities paid for the home office. You have two choices: 1) You can list the entire amount under column (b) as an indirect expense. You will then get a deduction for the fraction of the amount based on what fraction of your h... |
70 | Car as business expense, but not because of driving | [
{
"docid": "327002",
"title": "",
"text": "\"To be deductible, a business expense must be both ordinary and necessary. An ordinary expense is one that is common and accepted in your trade or business. A necessary expense is one that is helpful and appropriate for your trade or business. An expense does ... | [
{
"docid": "34810",
"title": "",
"text": "\"I'm going to look just at purchase price. Essentially, you can't always claim the whole of the purchase price (or 95% your case) in the year (the accounting period) of purchase, but you get a percentage of the value of the car each year, called writing down al... |
71 | Can a business refuse to take credit cards? | [
{
"docid": "372052",
"title": "",
"text": "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 ca... | [
{
"docid": "176284",
"title": "",
"text": "The term business credit normally refers to one or more credit cards which can be used to make purchases on behalf of a business. A business credit card will usually have both the business name and the card holder's name printed or embossed on the card. In most... |
72 | Calculate Estimated Tax on Hobby Business LLC | [
{
"docid": "549870",
"title": "",
"text": "\"You are on the right track, for tax purposes its all ordinary income at the end of 2016. If the free lance \"\"employer\"\" will withhold fed,state and local tax, then that takes care of your estimated tax. If they can't or won't, you will need to make those ... | [
{
"docid": "258611",
"title": "",
"text": "The cost will be around $300-$500 if you do it correctly it in Florida and can be over a $1,000 if you do it in New York (New York is more expensive due to a publication requirement that New York has for LLC’s). The price ranges I’ve given include filing, stat... |
72 | Calculate Estimated Tax on Hobby Business LLC | [
{
"docid": "302049",
"title": "",
"text": "\"I assume your employer does standard withholding? Then what you need to do is figure what bracket that puts you in after you've done all your normal deductions. Let's say it's 25%. Then multiply your freelance income after business expenses, and that's you... | [
{
"docid": "220877",
"title": "",
"text": "LLC doesn't explain the tax structure. LLCs can file as a partnership (1065) Scorp (1120S) or nothing at all, if it's a SMLLC. (Single Member LLC). I really enjoy business, and helping people get started. If you PM me your contact information, id be more than h... |
74 | Buying car from rental business without title | [
{
"docid": "46680",
"title": "",
"text": "I would steer well clear of this. The risk is that they take your money but don't pay the bank. This wouldn't require dishonesty - what if they run into financial trouble? Any money of yours that they have that hasn't gone on to the bank yet might end up paying ... | [
{
"docid": "113516",
"title": "",
"text": "If you know that you have a reasonable credit history, and you know that your FICO score is in the 690-neighborhood, and the dealer tells you that you have no credit history, then you also know one of two things: Either way, you should walk away from the deal. ... |
75 | Why should I choose a business checking account instead of a personal account? | [
{
"docid": "297965",
"title": "",
"text": "\"Some benefits of having a business checking account (versus a personal checking account) are: The first 3 should be pretty easy to determine if they are important to you. #4 is a little more abstract, though I see you have an LLC taxed as a sole proprietorshi... | [
{
"docid": "309023",
"title": "",
"text": "\"Depending on how the check was made out, you may be able to file a DBA (\"\"doing business as\"\"), which would give you the business name locally. Then open an account under that name and deposit the check. Or simply go back to the customer and say \"\"hey,... |
76 | How to report house used for 100% business? | [
{
"docid": "375357",
"title": "",
"text": "As DJClayworth said, be very careful with this one! The property is a residence, not a business location. Given that, it is almost a certainty that the IRS is not going to let you claim 100% of the expenses for the home as a business expense, even if nobody'... | [
{
"docid": "18539",
"title": "",
"text": "Here are the general guidelines on what you should report and pay - but the overall rule is that if it's not a business-related cost then you can't claim it. In your example, a client meeting may warrant a claim for 'entertaining clients' which could be claimed ... |
78 | How to record business income tax paid, in QuickBooks? | [
{
"docid": "152407",
"title": "",
"text": "Federal income taxes are indeed expenses, they're just not DEDUCTIBLE expenses on your 1120. Federal Income Tax Expense is usually a subcategory under Taxes. This is one of the items that will be a book-to-tax difference on Schedule M-1. I am presuming you are ... | [
{
"docid": "115264",
"title": "",
"text": "I think that author does a disservice by writing such seemingly sensible articles without actually knowing how things work. If I didn’t know better, I would think this guy was teaching me something. It’s a shame he did not do research before he started writing.... |
80 | Get a loan with low interest rate on small business | [
{
"docid": "252473",
"title": "",
"text": "\"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 \"\"i... | [
{
"docid": "474184",
"title": "",
"text": "I suggest you to apply for a car loan in other banks like DCU or wells fargo, you might get the loan with not the best rate, but after a year you can refinance your loan with a better rate in a different bank since you are going to have a better credit as long ... |
81 | Does revenue equal gross profit for info product business? | [
{
"docid": "451207",
"title": "",
"text": "What about web-hosting fees? Cost of Internet service? Cost of computer equipment to do the work? Amortized cost of development? Time for support calls/email? Phone service used for sales? Advertising/marketing expenses? Look hard--I bet there are some costs."
... | [
{
"docid": "390289",
"title": "",
"text": "As soon as the USA left the gold exchange standard, total factor productivity began to dramatically stagnate. We can trace it back to the early 1900s, but because of electricity, oil, automobiles and computers it is best to track it from Nixon taking us off t... |
82 | Will unpaid taxes prevent me from getting a business license? | [
{
"docid": "500708",
"title": "",
"text": "Generally these things are unrelated. Your tax debt is to agency X, your license is (mostly) from agency Y. If your business involves agency X, then it may be a problem. For example, you cannot get a EA license (IRS Enrolled Agent) if you have unsettled tax deb... | [
{
"docid": "535207",
"title": "",
"text": "\"Did I do anything wrong by cashing a check made out to \"\"trustee of <401k plan> FBO \"\", and if so how can I fix it? I thought I was just getting a termination payout of the balance. Yes, you did. It was not made to you, and you were not supposed to ev... |
83 | Using cash back rewards from business credit card | [
{
"docid": "534277",
"title": "",
"text": "\"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 t... | [
{
"docid": "576269",
"title": "",
"text": "Unfortunately not. Even if the credit card balance is positive (i.e. customer has overpaid the credit card account), you cannot withdraw cash (for free) - as any cash withdrawal is subject to 12.9% interest - even if repaid in full at the end of the month! The ... |
85 | Moving my online only business to the USA? | [
{
"docid": "431230",
"title": "",
"text": "You don't need a Visa to create or own US property. Your registered agent will be able to take care of most of this, and your new entity will use the registered agent's address where applicable, but you may need your own separate address which can be your offic... | [
{
"docid": "266229",
"title": "",
"text": "\"The HMRC has a dedicated self-help/learning site that is helpful here: It's important to tell HMRC that you are self-employed as soon as possible. If you don't, you may have to pay a penalty. You don't want to pay more to HMRC than you have to as it is a ... |
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