query_id stringlengths 32 32 | query stringlengths 9 5.38k | positive_passages listlengths 1 23 | negative_passages listlengths 10 100 | subset stringclasses 7 values |
|---|---|---|---|---|
3e0a7c541d6762a39436258aa02b7c6b | What is considered a business expense on a business trip? | [
{
"docid": "c11d1781a910fe53b160db6f0ac43cb5",
"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 de... | [
{
"docid": "221c2facfbbbc27225c5f7d9f28af460",
"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 pur... | fiqa |
d660d717a109dc59d1a7e06066083c7c | Business Expense - Car Insurance Deductible For Accident That Occurred During a Business Trip | [
{
"docid": "19a5eaff889e256c24b4d030e13e7d2c",
"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 s... | [
{
"docid": "5abf3aeec6c19bec0614fea89f34cc6f",
"text": "Business expenses reduce business income. The SE tax is paid on business income. The credit for 1/2 the SE tax is based on the amount of SE tax paid. So:",
"title": ""
},
{
"docid": "255ced4517b0b7d6b04e2db97cfaec4c",
"text": "The answe... | fiqa |
7e77480d7a7df720e5369648e731fae8 | Starting a new online business | [
{
"docid": "7a0f5ae5d21bde5bfb381e841ac88197",
"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... | [
{
"docid": "1a949988273831ba706baa2e52f20924",
"text": "You're gonna start a business but you can't choose your own name? C'mon man, that's the fun part.. Have you researched the demand? In a dying industry like hard copy games, what sets you aside from big players like GameStop? What's gonna set you apart ... | fiqa |
d5053afdacf3773674f1cf4928bfd1b3 | “Business day” and “due date” for bills | [
{
"docid": "0fe8ad531b8303ea06ea6b21256025fe",
"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 du... | [
{
"docid": "133464c876056ea6f006d3b68d5352cd",
"text": "In the US there is no set date. If all goes well there are multiple dates of importance. If it doesn't go well the budget process also may include continuing resolutions, shutdowns, and sequestrations.",
"title": ""
},
{
"docid": "f2001e382... | fiqa |
c6f6f8f6bb1c3f2a5f297cddb97389c3 | New business owner - How do taxes work for the business vs individual? | [
{
"docid": "300c2b236171618b127627cb296130ad",
"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 shoul... | [
{
"docid": "dc55d2f06ed16eb2a0e502d86f342e03",
"text": "\"So the main reason that you aren't getting answers is that the question is not really answerable on this site without putting a lot of details about the expenses of your company online. Even then you will need someone who specializes in Canadian tax... | fiqa |
70c2e3744d2a0b41ec097ee751e8dafe | Hobby vs. Business | [
{
"docid": "475ff0dce200c39f9e5720194d86cca2",
"text": "Miscellaneous income -- same category used for hobbies.",
"title": ""
},
{
"docid": "0e0ae1e5e3f2fc011f870fc4b608327e",
"text": "\"You can list it as other income reported on line 21 of form 1040. In TurboTax, enter at: - Federal Taxes... | [
{
"docid": "2fca1facc06f3225c3ebc700424e3432",
"text": "Colloquially, there's no difference except for the level of risk (which is an estimate anyway). Classically, investment is creating wealth through improvement or production. Purchasing a house with the intent to renovate and sell it for a profit would... | fiqa |
ffe34df1c7976a15d0ba31ae23ecb3de | Personal checks instead of business ones | [
{
"docid": "a1c74729f1dca762dfb8b1500a304afd",
"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 w... | [
{
"docid": "17609ed5dd1c22d3b7733a7358c9a2a2",
"text": "\"I expect the company wanted to pay you for a product (on a purchase order) rather than as a contract laborer. Whatever. Would they be willing to re-issue the check to you as a sole proprietor of a business named ABC Consulting (or anything like that... | fiqa |
dd908777fad5cc590a58b74074e50132 | Does U.S. tax code call for small business owners to count business purchases as personal income? | [
{
"docid": "d55b27429ba53a663bc7257aa958fc75",
"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 busines... | [
{
"docid": "ae96ebf7c42b5aa8611e7c1b9890c299",
"text": "First - get a professional tax consultation with a NY-licensed CPA or EA. At what point do I need to worry about collecting sales taxes for the city and state of New York? Generally, from the beginning. See here for more information on NYS sales tax. ... | fiqa |
35174df57ee02ebd4998b3981da51463 | Business Investment Loss from prior year | [
{
"docid": "bf0330082ac65d66aa4934120480a8fe",
"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... | [
{
"docid": "ade1f187fc1c0403179210d8806b6971",
"text": "Yes, you will be able to claim it as an expense on your taxes, but not all in the current year. It is split into three categories: Current Expenses - Assets purchased such as inventory would be able to be claimed in the current year. Assets - Vehicles... | fiqa |
9499932f491f88e92601b5760ffba402 | How can I estimate business taxes / filing fees for a business that has $0 income? | [
{
"docid": "e8c6bd900f8d5b7b20accdc0347b2060",
"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 fee... | [
{
"docid": "7691b04c045df57a892e781356f4004f",
"text": "Washington State doesn't have a state income tax for individuals, so unless you've got a business there's nothing to file. Find out more on their website.",
"title": ""
},
{
"docid": "6f4290ed479d97b76cb8e3e8ecc89e8f",
"text": "Starting... | fiqa |
39d2b85be30a97c3fdc27a0f5d3b72d3 | Would the purchase of a car for a business through the use of a business loan be considered a business expense? | [
{
"docid": "221c2facfbbbc27225c5f7d9f28af460",
"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 pur... | [
{
"docid": "85110d666ba177dfbde6ed4aae613120",
"text": "Yes, truckloads of cash. /s It's exactly the same as your example, when people say to pay for a car in cash, they don't meany physical bills, but rather the idea that you aren't getting a loan. In most acquisitions, the buyer will usually pay with t... | fiqa |
f9e4e829155c6ec88867db4ecf32fbb7 | 30% share in business | [
{
"docid": "c58daa07acae659b5335af1ae1dfa254",
"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... | [
{
"docid": "cc91ea4c757c7222136a6d2fab185128",
"text": "Typically, preferred shares come with one or both different benefits - a disproportionate share of votes, say 10 votes per share vs the normal 1, or a preferred dividend. The vote preference is great for the owner(s) looking to go public, but not lose... | fiqa |
5932b56d8fba8f68c176ff7c8a6ee180 | Claiming business expense from personal credit card | [
{
"docid": "983b96518395d2dd077ddb166149f582",
"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 acc... | [
{
"docid": "dbfa5b84cb673235e5bac207e7538d3e",
"text": "As I understand it... Generally housing can't be considered a business expense unless taken at your employer's explicit direction, for the good of the business rather than the employee. Temporary assignment far enough from you home office that commutin... | fiqa |
549010c3ced5bbf797d3b74d7032ebd3 | Using business check to pay at retail | [
{
"docid": "26380e834a3f492cf088ecc635f89079",
"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.",
"title": ... | [
{
"docid": "eb1508ea931882b83665fb6c454f4549",
"text": "For an individual its not automatic. One needs to ask the Bank, return the check. For Corporate Customer depending on how big the relationship is, many a times this is given as a service and there is an automatic return",
"title": ""
},
{
... | fiqa |
b6be89874a61fd5a01cda3b90b2f0d7d | Tax whilst starting a business in full time employment | [
{
"docid": "c414ddf19d92a996247a16664983c33f",
"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 ... | [
{
"docid": "b573d3167787931ca68ccd809c08eea9",
"text": "PSB taxed at higher rates. PSB is taxed at 39.5% in Ontario, as the article mentioned. But if you pay all the net income to yourself as salary, you expense it and zero it out on the corporate level. So who cares what tax rate it is if the taxable incom... | fiqa |
d1696ee61fe532526dd7321e766d93a5 | Can I pay off my credit card balance to free up available credit? | [
{
"docid": "055d64e9212902773d010efb3a9dc787",
"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 wi... | [
{
"docid": "3214ebb04e28fd0dda794aa50304dcb3",
"text": "There are a number of ways to get out of debt. First, stop spending on that card. You could apply for a 0% APR credit card and if you qualify with a credit limit equal (or higher) than what you have now, then you could transfer the balance and start on... | fiqa |
e05f28875cd91bf8ed8341ca37ada0be | Starting a side business slowly | [
{
"docid": "b24c2f47bab3406acbccee0f70ab1d59",
"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 don... | [
{
"docid": "aacf84abf0e15e48cd79c9cdb7a0e26c",
"text": "\"Yes. There are several downsides to this strategy: You aren't taking into account commissions. If you pay $5 each time you buy or sell a stock, you may greatly reduce or even eliminate any possible gains you would make from trading such small amounts... | fiqa |
5fda645cfb5b34cbdf21ca6ed1aceb4b | Why is “cheque cashing” a legitimate business? | [
{
"docid": "25e2790f0097e1553fcb935da1c4396a",
"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, a... | [
{
"docid": "7d886d70fde7e58daf8a86ac00e1884c",
"text": "Nowadays, all checks you write will not be send to your bank anymore, but instead the bank where they get deposited does an ACH from your bank. That implies that not allowing this to happen, your bank would not be able to honor any checks you wrote (wi... | fiqa |
bbe13ca9c269fee66d303163f7d1020b | Valuing a small business to invest in | [
{
"docid": "576f7d951a779bdf0f9e1097102fbb92",
"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 difficu... | [
{
"docid": "f0656add052a98a8db4a16389833068c",
"text": "Source, see if you have access to it Convertible notes are often used by angel investors who wish to fund businesses without establishing an explicit valuation of the company in which they are investing. When an investor purchases equity in a startu... | fiqa |
98cf55e7db992d6454e4a7de8ce897de | Starting a large business with a not so large income? | [
{
"docid": "6698f5fb8bf176f889c63f7be102ddd8",
"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 serv... | [
{
"docid": "ae4d07bfbe8ca228742be94731ed1111",
"text": "It all depends on the country. In the US, mobility at the top is reasonably high (ie first generation millionaires, first generation billionaires, etc). In other western countries, mobility at the top is very poor. This is typically due to regul... | fiqa |
a6e62f7014faca1b943b69cc49cc2440 | Requirements for filing business taxes? | [
{
"docid": "410ac68a03bad08212c249ea7a474349",
"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 exis... | [
{
"docid": "c9465295f9681f3dc74f2e647335bfdd",
"text": "Since you are living in India and earning income not from salary, you must file your tax return under ITR4(Profits or Gains of Business or Profession). You can do it online on IncomeTax India eFiling website, step by step guide available here.",
"t... | fiqa |
6a27f96adec55003f30ea78f28162050 | IRA for work and my business | [
{
"docid": "54b561dd3d3abc1fbe047ea8d373a47f",
"text": "Yes, you can have both. You'll need business income to contribute to a SEP IRA though.",
"title": ""
}
] | [
{
"docid": "7a54240da4b431d36b9d5df63fdc615d",
"text": "I would definitely recommend contributing to an IRA. You don't know for sure you'll get hired full-time and be eligible for the 401(k) with match, so you should save for retirement on your own. I would recommend Roth over Traditional IRA in your situat... | fiqa |
778b378620b98ab0ae3c04c4f216b85d | Advice on money transfer business | [
{
"docid": "7851f4eb8431440619c6ffb3774188f0",
"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 ... | [
{
"docid": "b333300fe111ad7b459f9ec0a85ee48d",
"text": "You would think so wouldn't you, after all, it's your money! In practise though, it's not as easy as you might think because anti money laundering and anti fraud laws mean you generally have to withdraw money to the same account you funded your trading... | fiqa |
66267c1b699565dede193e8325f28144 | Tutoring Business Payroll Management | [
{
"docid": "35f09e6454b7f5a6700a7e3e843615d0",
"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 a... | [
{
"docid": "a2cf66883d51bd5ea08ba6ad0f0a209d",
"text": "Stop paying too much for your online tutoring! Web Tutors provides the most professional online tutors for the absolute lowest price on the web. If you need math help, algebra help, science help, business help or any other online tutoring services, Web... | fiqa |
093c51bef3c5594bb77a92d43c4ae6c9 | Full-time work + running small side business: Best business structure for taxes? | [
{
"docid": "b56407de7aa2faa059ec71a962d86140",
"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 doi... | [
{
"docid": "b785bcf974c97d43b0f71c871e9a9f2a",
"text": "No, even businesses pay taxes quarterly. So if you formed Nathan, LLC, or otherwise became self employed, you'd still have to file quarterly estimates and make tax payments. This would cause taxes to be a much more high touch part of your life. Howev... | fiqa |
ca0bac2614826a7aa33e95250610689e | New vending route business, not sure how to determine taxes | [
{
"docid": "2e98394f8d6cda6221a19b8b24729f04",
"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 busi... | [
{
"docid": "e65ca832826c13679b69f21901aa6230",
"text": "First, you should probably have a proper consultation with a licensed tax adviser (EA/CPA licensed in your State). In fact you should have had it before you started, but that ship has sailed. You're talking about start-up expenses. You can generally de... | fiqa |
0cb400a482e3f9456531e52eb9bd8117 | Finding a good small business CPA? | [
{
"docid": "43544cf49d9103aa148b03b6f70b5ce4",
"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": "12d1a8b507f62f4a0cec0bd65c453fa8",
"text": "\"They are under the radar, but are very strong in Europe and Asia. Deal size will be middle market transactions in North America, a stark contrast to its accounting clients. The good: -established pipeline from accounting and consulting partners &am... | fiqa |
e0bf1d41d35f5a6a6ea31d5618213989 | Taxable income on full-time job + business earnings | [
{
"docid": "2cb5e43eba512b55cfa5d13bc941d656",
"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 in... | [
{
"docid": "a12fef26783efd9373ad54fafc4a0211",
"text": "Please do not focus solely on income tax, and ignore all of the other taxes that businesses need to pay. Payroll taxes for example. If I make $15/hr, I cost my employer more than this in reality.",
"title": ""
},
{
"docid": "e948ca5b9558c... | fiqa |
b146b4797f2fd54e7d300a1654bb78ee | How can I lookup the business associated with a FEIN? | [
{
"docid": "be563df8add84c300bc12ad439293eec",
"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/guidest... | [
{
"docid": "8f4c080735d5f2b965340b162ba88a58",
"text": "Google is your friend. If you buy me a beer, I might be as well. By the way DOD is the ticker. Dogs of the Dow ETF",
"title": ""
},
{
"docid": "0ff87b4504eaa0cf33d2b696582f47ef",
"text": "\"I think the \"\"right\"\" way to approach thi... | fiqa |
121089fa18fac159d3142f76ffab7006 | Tax Allocation - Business Asset Transfer | [
{
"docid": "ee1cbe95c80b1f09c238a89beef2ce71",
"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 c... | [
{
"docid": "a218b268aee293bf7feabf28e3b83c0f",
"text": "I fell into a similar situation as you. I spent a lot of time trying to understand this, and the instructions leave a lot to be desired. What follows is my ultimate decisions, and my rationale. My taxes have already been filed, so I will let you kno... | fiqa |
f23f5486c32226e833cf8245447d0a9c | How to Deduct Family Health Care Premiums Under Side Business | [
{
"docid": "ab8e5625963dace403b25188bb017acc",
"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 ... | [
{
"docid": "15034ead9413735215f730cb5e1fe918",
"text": "\"HSAs as they exist today allow a person to contribute tax deductible money (like a traditional IRA) to a savings account. The funds in the savings account can be spent tax free for qualified expenses. If the money is invested it also grows tax free... | fiqa |
ec7a4c4c75b46a47ec0246312c7043b1 | 1040 Schedule A Un-Reimbursed Business Expense Reporting | [
{
"docid": "27be59dd2f4445169ef9d91862353b69",
"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 carr... | [
{
"docid": "b288f4246d6d89e0c58cf716df4993bd",
"text": "\"$500, this is called \"\"cash basis\"\" accounting. A large company might handle it otherwise, counting shipments/billings as revenue. Not you. Yet.\"",
"title": ""
},
{
"docid": "bae6e8d76b98b2ba96a5520be36c2c8f",
"text": "I believe ... | fiqa |
c2fc5d319fa7498d85063d2cd7de687d | value of guaranteeing a business loan | [
{
"docid": "6524bc2becd518e677ad0cd882293a3d",
"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 in... | [
{
"docid": "b5ce0e715bbecbe660d6f410a6281b97",
"text": "There is a way to get a reasonable estimate of what you still owe, and then the way to get the exact value. When the loan started they should have given you amortization table that laid out each payment including the principal, interest and balance for... | fiqa |
8fccf49c9401543e983aa8b159d0c07a | Car as business expense, but not because of driving | [
{
"docid": "2ec447312a423d5378550f6d87afb5a5",
"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 expe... | [
{
"docid": "bacbe17f21b09d058f277e0c87cc31a0",
"text": "Keep this rather corny acronym in mind. Business expenses must be CORN: As other posters have already pointed out, certain expenses that are capital items (computers, furniture, etc.) must be depreciated over several years, but you have a certain amoun... | fiqa |
31f6cb7a9329706a7648ea911a939cc0 | Can a business refuse to take credit cards? | [
{
"docid": "767066e1be82bb833f52d561ec8096d6",
"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 ... | [
{
"docid": "a14f39ffe1e331e017210025d8ca5d46",
"text": "Can they reject a hundred dollar bill as a payment of debt?! No. A creditor cannot refuse payment in cash, whatever denomination you use. HOWEVER, when you're buying stuff - you don't owe anything to the business owner. There's no debt, so the above ru... | fiqa |
c093c180b6c90193d0a2f03d24647977 | Calculate Estimated Tax on Hobby Business LLC | [
{
"docid": "f4f65d96de623386d5e4864d46eaf2ed",
"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 ma... | [
{
"docid": "ca45fdfb71adf33769492b71c096b555",
"text": "There is a shortcut you can use when calculating federal estimated taxes. Some states may allow the same type of estimation, but I know at least one (my own--Illinois) that does not. The shortcut: you can completely base your estimated taxes for this ... | fiqa |
ca61ba4bd34cbceab482d4a0cb67f609 | Buying car from rental business without title | [
{
"docid": "3e48ff78f0a9989139b2a2c1115f7dac",
"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 ... | [
{
"docid": "5b33653164a3081cba70f7d0a1fb18f8",
"text": "The key here is the bank, they hold the title to the car and as such have the final say in things. The best thing you can do is to pay off the loan. Could you work like crazy and pay off the car in 6 months to a year? The next best thing would be to s... | fiqa |
899c711b4f94889496b6ccbce83e3887 | How to record business income tax paid, in QuickBooks? | [
{
"docid": "4d9bdb78150f5089baeab672332d02d2",
"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... | [
{
"docid": "d1b3d85e0259ff79c5fcce5e2a24ff6c",
"text": "I assume the OP is the US and that he is, like most people, a cash-basis tax payer and not an accrual basis tax payer. Suppose the value of the rental of the unit the OP is occupying was reported as income on the OP's 2010 and 2011 W-2 forms but the ... | fiqa |
ef80c013f441b9d84cb54bfadb5f41bd | Get a loan with low interest rate on small business | [
{
"docid": "7910bc8876c3819fe39df4008765f7a5",
"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 inc... | [
{
"docid": "c7ef1a2fdbb1359261574b34d2c11589",
"text": "A financial institution is not obligated to offer you a loan. They will only offer you a loan if they believe that they will make money off you. They use all the info available in order to determine if offering you a loan is profitable. In short, whet... | fiqa |
b847670e949460db7ce8e4bf86554d98 | Using cash back rewards from business credit card | [
{
"docid": "c27a6745db872edf0b1741bb3136b829",
"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 w... | [
{
"docid": "bb61a842ce680b93e02b19b67966b87f",
"text": "The biggest advantage to small business owners paid in cash is not that it might save the 2 or 3 percent that would go to the credit card company. The biggest advantage is that they have the opportunity to keep the transaction entirely off the books a... | fiqa |
54bd4165acdf496c4b7725cb5c3879dc | Moving my online only business to the USA? | [
{
"docid": "09764573fc064e61fbf2479f95d269b5",
"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 y... | [
{
"docid": "f424b6101ae3d715402a19f6895b7ae4",
"text": "Well I am kind of looking for a way to make it little bit more official if I can ... :D I have no toruble for paying taxes to US and anything ... Just don't want to spend 4000$ on 2 year VISA for a model that will stay in NYC for 3 weeks ... Doesn't... | fiqa |
446bc5ee9674c402d985bbaa3ead604a | Moving a personal business to a LLC accounting in California | [
{
"docid": "7b1233ae9dd1d191f141dc68a959fce6",
"text": "You can move money in and out of the business at will, just keep track of every transaction. Ideally you'd use an accounting software like QuickBooks or similar. Create a Capital Contributions account and every time you put money into the business chec... | [
{
"docid": "27bec497641aba62dca43f9539efbc33",
"text": "Recommend using quickbooks for account management. If you use the manufacturing and wholesale you can track POs from vendors, estimates, bill payment quotes and invoicing (there's an editor to customize your set up)Also, most accountants are very famil... | fiqa |
b23628bb875688ead8b5725e7f848f52 | What should one look for when opening a business bank account? | [
{
"docid": "f70a67d924690e27c7d881ed024bb809",
"text": "From my experience, I opened a business account to handle my LLC which owns a rental property. The account process and features were similar to shopping for a personal checking account. There would be fees for falling below a minimum balance, and for ... | [
{
"docid": "dcf7b6129f6a8a9145f65dc426f9870e",
"text": "PocketSmith is another tool you might like to consider. No personal banking details are required, but you can upload your transactions in a variety of formats. Pocketsmith is interesting because it really focus on your future cash flow, and the main fe... | fiqa |
d33942c6f06412c6e17b83e2e666c640 | Can I use my Roth IRA to start a business? | [
{
"docid": "09831bc94519dff461f2559278ffa955",
"text": "Read the Forbes article titled IRA Adventures. While it's not the detailed regulations you certainly need, the article gives some great detail and caution. You may be able to do what you wish, but it must be structured to adhere to specific rules to av... | [
{
"docid": "24b0b013a3385858eda59f1359a4f523",
"text": "You can't do what you would like to do, unless your business has another, unrelated investor or is willing to invest an equal amount of funds + .01 into a corporation which will employ you. You will then need to set up a self-directed IRA. Additionall... | fiqa |
0bd92a52d3c90ac5ad672838f48b8c27 | Really have to use business credit card for personal expenses | [
{
"docid": "2ecef843666d67bbc24fc04bf1cc0d6d",
"text": "\"I really have to use the business card for personal expenses, please assume that in your answer. This is very hard to believe. You must do that? Why not just have the company pay you $1600 each month? Then you can use that money for whatever you want... | [
{
"docid": "90444e54339405ab045d9a427e75f038",
"text": "You can look into getting a business credit card. When I had my Chase business credit card, I could add authorized users to the main account and set a spending limit on each card.",
"title": ""
},
{
"docid": "c93f3024d8d4bde48399c1dabe42032... | fiqa |
537420c1ddd986de9a307e845bfeb715 | Peer to peer lending business model (i.e. Lending Club) | [
{
"docid": "3091eda9cb4abbce57a1fd1559c2da15",
"text": "This is all answered in the prospectus. The money not yet invested (available/committed to a note but not yet funded) is held in pooled trust account insured by FDIC. Money funded is delivered to the borrower. Lending Club service their notes themselve... | [
{
"docid": "1725f7ef8a360ad6fb97628888e9c1b1",
"text": "\"Here's a blog by a guy who is trying to do this: Personal Loan Portfolio And here's another one: bobharris.com Do a quick search for \"\"prosper loan\"\" or \"\"kiva\"\" on blog search.\"",
"title": ""
},
{
"docid": "3278e0a9c73e54e1e7529... | fiqa |
43c301094741932c675ef32c7b7476a2 | In what cases can a business refuse to take cash? | [
{
"docid": "842264f7e67962cdd9820c15a852e5f3",
"text": "The Federal Reserve website notes that creditors must accept cash for debts on services already rendered, but that businesses may refuse cash for services not yet rendered unless prohibited by local law. The Treasury website includes examples of busine... | [
{
"docid": "7ca2ce1a6ca37200e7f5119f80f5b42c",
"text": "First of all, don't be rude-I'm trying to help here. Second, picture this scenario- a company manages an offshore oil rig. The employees by law have to be paid in a certain period of time. To send paper checks to the employees who work on the oil ... | fiqa |
286ef76b2b78c7530b6c52a830f073d2 | How to safely earn interest on business profits (UK) | [
{
"docid": "c7f69a4ac2f6301ad1db8d23d13323d7",
"text": "Deposit it in a business savings account. The following below show you some options you can choose from. Next you can invest it in the market i.e. shares, bonds etc. If you have a more risky side, can go for peer to peer lending. If you are feeling rea... | [
{
"docid": "eced5a5b1949a6d5aa8cb7ff9a8b1692",
"text": "What you're getting at is the same as investing with leverage. Usually this comes in the form in a margin account, which an investor uses to borrow money at a low interest rate, invest the money, and (hopefully!) beat the interest rate. is this approa... | fiqa |
c42a1238739516671c611801bd96eebd | Income tax on my online drop-shipping business (India) | [
{
"docid": "eb51e3b740a853d3e34205947ba2ef7a",
"text": "Please consult a tax advisor. You may be voilating the FEMA [Foreign Exchange Management Act] and can land into trouble. Further what you are doing can land up into various other acts as illegal including AML. Further if there is income generated ... | [
{
"docid": "4972d02c5cb0088e316851b3f20b2dee",
"text": "Tax is due in India as you offered services from India. So whether the International Client pays via Credit Card, Bank Transfer, Paypal or any other means is not relevant. Even if the International Client pays you in a account outside India; it is sti... | fiqa |
3f2de55e799be8466ee5be7d92377566 | How to find a business consultant that would ensure that all your business activities are legal and compliant with all regulations? | [
{
"docid": "29392f0f37fbabadd75e643e01fc97a7",
"text": "\"Getting a specific service recommendation is off-topic, but the question of what type of professional you need seems on-topic to me. You may be looking for more than one professional in this case, but you could try these to start your search: Differ... | [
{
"docid": "ccda3c10d1457e510a53677e221bec9c",
"text": "\"Small businesses are often governed by local regulations and state law. In a low liability small quantity arena, you should be able to get away with a DBA (doing business as) arrangement, such as DBA \"\"Jay's Gem's\"\". A small business license may ... | fiqa |
9d4df7d01e88824b3513b59da4c17e46 | How to determine how much to charge your business for rent (in your house)? | [
{
"docid": "0feaebba070c6c0fa61decfec8db2cb2",
"text": "Your best approach is to assess rent levels in your local area for offices of a similar size. You need to take into account all the usuals - amenities, parking, etc, just as if your home-office was provided by a third-party. Get your $/sq ft and work o... | [
{
"docid": "7e6a5a540c60faee2f81e922e2fa4a79",
"text": "There are many ways to value a business. Here is a simple method to get a ball park number on most businesses. This business is made of two parts. For the real estate: For the business: I would consider this type of small business riskier than the sto... | fiqa |
2ed886144a94646998a320b2ee993b09 | Dual Citizen British/US and online business taxes | [
{
"docid": "2cd770682f25805fc6be5eea23b57d81",
"text": "I see no reason why a US ID would be mandatory anywhere in the UK. I'm sure they have their own tax IDs in the UK. However, if the gallery requires US persons to submit US W-9 - then yes, you're covered under that requirement.",
"title": ""
}
] | [
{
"docid": "9797c3ae43e312e7a4e29c26a0f28f57",
"text": "If i am not wrong, any business activities such should be declared on Year End Tax filing. If your friend is going to own that website either it is commercial or nonprofit, he has to declare in the year end taxation.",
"title": ""
},
{
"doc... | fiqa |
c4397e2cd3ee6b25c7dbc65428bf5389 | Why are earning credit card rewards often tied to groceries and gas? | [
{
"docid": "fad9d64626f90023c966ca639615a523",
"text": "Every reward program has to have a funding source. If the card gives you x percent back on all purchases. That means that their business is structured to entice you to pump more transactions through the system. Either their other costs are lower, or th... | [
{
"docid": "2d2f8e0cbddaab8964e4cd5e7221ccf6",
"text": "You must understand that not everyone has or can get credit cards. Consider that those who are in the the lowest 20-30% of income tend to have fewer credit cards (or none), and lower credit debt, although some have quite high credit card debt relative ... | fiqa |
5720a917c2113b9b5cfad5390503b2f8 | Why do most banks in Canada charge monthly fee? | [
{
"docid": "01aec37e09311c858b5e357f73a4b357",
"text": "\"Arguably, \"\"because they can\"\". Canada's banking industry is dominated by five chartered banks who by virtue of their size, pretty much determine how banking is done in Canada. Yes, they have to abide by government regulation, but they carry eno... | [
{
"docid": "777609ebf107f439f7d88abfd8f47406",
"text": "\"In the end, all these fees hurt the average consumer, since the merchant ultimately passes cost to consumer. Savvy consumers can stay at par or get ahead, if they put in the effort. It's a pain, but I rotate between 4 cards depending on time of year ... | fiqa |
c0fb0b52a3c014bf13425bcda5fc862b | Do I need to register as self employed in Ontario, Canada? | [
{
"docid": "a2449af7ae6b5038bbbe8a7aa1f5f66b",
"text": "If your business name is your name, you are automatically considered a sole-proprietorship and any income you generate and expenses you incur can be calculated on your personal tax return. You can use QuickTax Home & Business tax software to lead you t... | [
{
"docid": "bb4dc2382fe36b9c9d01a1e44edaee35",
"text": "IANAL (and nor am I an accountant), so I can't give a definitive answer as to legality, but AFAIK, what you propose is legal. But what's the benefit? Avoiding corporation tax? It's simplistic – and costly – to think in terms like that. You need to ru... | fiqa |
a3ab15eb1e420b26e6b8d57baefc8e49 | Why do credit card transactions take up to 3 days to appear, yet debit transactions are instant? | [
{
"docid": "62eb9305ec5ccbdfe1d0dd52c7dd9840",
"text": "When you swipe your credit card, the terminal at the store makes a request of your bank, and your bank has only a few seconds to accept or reject the transaction. Once the transaction is accepted by your bank, it appears in the Pending transactions. At... | [
{
"docid": "f09e5df95d050feae1e745fb0c66f9bd",
"text": "Debit is them taking the money, in your case electronically. Credit is somebody vouching for you and saying you will pay later. They are alternate ways to pay for a product. As a merchant, if you take a credit card you are agreeing that a the issuer ... | fiqa |
5d65f5f6fce1ac1dc43bf1cbae22276a | Why do VAT-registered businesses in the EU charge VAT to each other? | [
{
"docid": "72b1e6985173d4f438917c27830348c5",
"text": "Not doing this would defeat the entire purpose of a VAT. The reason for a VAT rather than a simple sales tax is that it's harder to evade. Having a simple sales tax with the type of rates that VAT taxes typically are is unworkable because evasion is to... | [
{
"docid": "ce76c6101a3f1577a11cca8495cebfc4",
"text": "It's quite common for VAT-registered businesses to quote ex-VAT prices for supply to other businesses. However you're right that when you make an order you will be invoiced and ultimately have to pay the VAT-inclusive price, assuming your supplier is ... | fiqa |
68f16719136dcb46f7125a2fa90fdea2 | How To Report Cryptocurrency Earnings? | [
{
"docid": "9bd1a5f5aeb95f5ac87bf992d454e1c0",
"text": "\"While this does fall under the \"\"All-inclusive income\"\" segment of GI (gross income), there are two questions that come up. I invested in a decentralized bitcoin business and earned about $230 this year in interest from it Your wording is confus... | [
{
"docid": "250e59e43c4663a659e26028f92aa583",
"text": "I would track it using a regular asset account. The same way I would track the value of a house, a car, or any other personal asset. ETA: If you want automatic tracking, you could set it up as a stock portfolio holding shares of the GLD ETF. One shar... | fiqa |
e6e030f8b0cdbbd1a9eabcce0a64bb50 | Allocation between 401K/retirement accounts and taxable investments, as a young adult? | [
{
"docid": "85db41ab3a27e8a646bd08a60979c754",
"text": "I'm afraid you're mistaking 401k as an investment vehicle. It's not. It is a vehicle for retirement. Roth 401k/IRA has the benefit of tax free distributions at retirement, and as long as you're in the low tax bracket - it is for your benefit to take ad... | [
{
"docid": "b57b3a32bfd52fec3ec9ac55da0dc76a",
"text": "Kudos to you on having money in a retirement account as early as after college. Many people don't start investing towards retirement until far to late and compound interest makes a major difference in those early years. Ideally, neither withdraw nor b... | fiqa |
d9b8db81646dee94276ba5471dde796f | Income Tax form in India for freelancing | [
{
"docid": "3829f2bd93fbc08fcf8d58ebe3c01c34",
"text": "\"ITR1 or ITR2 needs to be filed. Declare the income through freelancing in the section \"\"income from other sources\"\"\"",
"title": ""
},
{
"docid": "c9465295f9681f3dc74f2e647335bfdd",
"text": "Since you are living in India and earni... | [
{
"docid": "cb319900a611592c04987f31bf73e25a",
"text": "Please consult at CA for specific's to your case. In general any income earned abroad can be brought to India tax free within 7 years. For more details refer to http://www.nritaxservices.com/ret_indn.htm",
"title": ""
},
{
"docid": "358ca6c... | fiqa |
03d9b65f6f532efd2e4e9e10fe0d5e9a | Should I be filling out form W-9 for somebody I sold used equipment to? | [
{
"docid": "f1e3a3be118b48d06cf556ed92c5945f",
"text": "They are a business. You're not a corporation. They paid you more than $600 during the year, so they're supposed to send 1099 to you and the IRS about it. They need your taxpayer certification (W9) for that. They were supposed to ask for it before they... | [
{
"docid": "de91a74d3d2cb9541a9866e233ae6c28",
"text": "Typically that applies if the broker Form 1099-B reports an incorrect basis to the IRS. If the Form 1099-B shows incorrect basis relative to your records, then you can use 8949, column (g) to report the correct basis. The 8949 Instructions provide a ... | fiqa |
a5d98d76027571e271179fceaa40a11e | Where I am I liable for taxes? | [
{
"docid": "0aca48ad4b9f2b175753f2e40374432f",
"text": "You will have to pay your taxes in the UK not USA. For tax purposes it is the company's tax residency not where the server is located. You are just hiring a server in USA. Take for example a CDN being used for your same service then would you pay taxes... | [
{
"docid": "6a0cbcb05915e5e3cec3557add8a537e",
"text": "\"And you were criticizing me for making blanket, general statements... Did you want to talk about something specific, or did you want to keep the discussion to the generalities like arguing about whether taxes are \"\"noble or ignoble\"\"? If it i... | fiqa |
8d50b509e4ef52fa0796aba312e70de3 | Can I Accept Gold? | [
{
"docid": "4c30ad0006a1e499ae485f0a559057c3",
"text": "\"You can accept almost anything mutually agreeable to you and the other party as payment. That's the definition of \"\"barter\"\". If you agree to trade manufactured goods for livestock, as long as both parties agree on the terms, I'm not aware of any... | [
{
"docid": "1f82eef360c642b80cbd1041bd8dcd02",
"text": "\"Gold is not an investment. Gold is a form of money. It and silver have been used as money much longer than paper. Paper money is a relatively recent invention (less than 350 years old) with a horrible track record of preserving wealth. When I exc... | fiqa |
9355f76291f42b6ea33d789cbd6cbbf0 | Can a company have a credit rating better than that of the country where it is located? | [
{
"docid": "9b9f9d0390fd07319e4f35714bb1d4c3",
"text": "\"BlackJack's answer is technically correct: government credit ratings are independent of corporate credit ratings. The rating should reflect the borrower's ability to repay its obligations. One reason the book you read may have stated that corporate ... | [
{
"docid": "20699ddd02b61af4bdf4d3704421330d",
"text": "You borrow on the international makets. [Moody's predicts Scotland would get an 'A' credit rating](http://www.bbc.co.uk/news/uk-scotland-scotland-politics-27247870) [Standard & Poors - Independent Scotland could be AAA rated](http://www.business... | fiqa |
ecabe007156ccad52845f89a95754376 | Do I owe taxes in the US for my LLC formed in the US but owned by an Indian citizen? | [
{
"docid": "d402dc885d5d6ef6afda8b49de969880",
"text": "You're doing business in the US and derive income from the US, so I'd say that yes, you should file a non-resident tax return in the US. And in Connecticut, as well, since that's where you're conducting business (via your domestic LLC registered there)... | [
{
"docid": "cd457dc2775f548272da666b546bbfaf",
"text": "Unless you started a bank or other kind of a financial institution (brokerage, merchant processor, etc etc), the page you linked to is irrelevant. That said, there's enough in the US tax code for you to reconsider your decision of not living in the US,... | fiqa |
10192323bb083653775221e7b3ab8998 | Transfer $70k from Wells Fargo (US) to my other account at a Credit Union bank | [
{
"docid": "1d19dbe9c2096debb484bfaa01ff107a",
"text": "The LLC is paying you. It would only be fraudulent if you were trying to move the money out of the LLC to avoid a liability. I'm pretty sure the transaction will be taxable income for you personally. Consider consulting with a CPA to ensure that you... | [
{
"docid": "51f2a7760c1e292fd6f78d83180f6276",
"text": "The simplest method is just to write a check from one account and deposit it in the other. If you are the owner of both accounts, you should be able to electronically deposit the check using their phone apps. Depending on the amount you are transferi... | fiqa |
6859ff360948b1da11416508cf3e216f | I have $100,000 in play money… what to do? | [
{
"docid": "d41d8cd98f00b204e9800998ecf8427e",
"text": "",
"title": ""
},
{
"docid": "538fe0fb7780d4da227f8ac29f58e5f1",
"text": "\"For any sort of investment you need to understand your risks first. If you're going to put money into the stock or bond market I would get a hold of Graham's \"... | [
{
"docid": "2c0c8bfb2dacdf0908a0ca468fa7203e",
"text": "The following advice assumes that you have a significant amount already in the account in cash equivalents. If you are only talking a few hundred bucks or so, then just jump in at the next dip (like today's). If you have a larger amount to move into eq... | fiqa |
a828c6c1d5a1bf0c0d56598fc9d8de1b | Is it possible, anywhere in the US for a funding firm to not have a license number showing somewhere? | [
{
"docid": "ba7ff54a3a9af4ac23f5140a5e1a2b41",
"text": "In the United states the US government has the Small Business Administration. They also have Small Business Development Centers SMDC to help. These are also supported by state governments and colleges and universities. SBDCs provide services through p... | [
{
"docid": "d8b09ee2638ceb7294e3fcb01aaeee55",
"text": "I realize this is a stale topic, but to anybody who may swing by looking for an answer to this question (on the recently revised W-8BEN), a foreign taxpayer can get an individual taxpayer identification number (ITIN) without being resident in the US. ... | fiqa |
860068d370034366f70fc6e61c9dbf6a | How to deduct operational loss from my personal income tax? | [
{
"docid": "b84e43a18db301825aa7a9e96c8f979a",
"text": "\"I'm not an accountant, and you should probably get the advice of one to be sure about what to do. However, if the business is a sole-proprietorship, you'd complete a Schedule C for the business, and you'd end up with a loss at the end. If the inves... | [
{
"docid": "2da0e37099545e4632ce50e5d86a6d22",
"text": "\"A lot of financial software will calculate the value of operating leasess for you (bullet 2). E.g. Capital IQ, BB. What a lot of professionals do is \"\"reverse\"\" out EBITDA/EBIT etc. for: - non-recurring expenses (think big accounting changes, ... | fiqa |
6b8886f7531e727f4fdb44691fbae623 | Can my company buy my personal debt? | [
{
"docid": "748dc61cc970da3eeea8d867b964751b",
"text": "When your debt is forgiven, you have to consider the amount written off as an ordinary income item (with the exclusion of the debt originated from the purchase of primary home). If you're trying to write the debt off from your taxes - then it won't wor... | [
{
"docid": "6be77374df9492621476310efad3a555",
"text": "From Wikipedia: If a company with limited liability is sued, then the claimants are suing the company, not its owners or investors. A shareholder in a limited company is not personally liable for any of the debts of the company, other than for th... | fiqa |
815e3b47585ca58449464b25a75dd961 | Need small buisness ideas with 100k $ budjet in a 3rd world country | [
{
"docid": "834c2a0e0ce54c97615d0a7993d1588d",
"text": "Firstly, I highly doubt anyone on this site will be able to provide you with accurate input on this matter regarding what TO DO. It's the what not to do that may be possible. That said, if you want to offer equipment for rent, which in a developing co... | [
{
"docid": "f27a6c6c9dcf94808d2a9ebbab865880",
"text": "What could a small guy with $100 do to make himself not poor To answer the question directly, not much. Short of investing in something at the exact moment before it goes bananas, then reinvesting into a bigger stock and bigger etc, it's super high ris... | fiqa |
b55032ba48d4c47fa046a7cf9b5558d2 | Tax Write-offs and knowing how much I need to spend before the end of the year | [
{
"docid": "d434bac93e59b6bc54b351997abe1226",
"text": "\"(I'm assuming USA tax code as this is untagged) As the comments above suggest there is no \"\"right\"\" answer or easy formula. The main issue is that you likely got into business to make money and if you make money consistently you will pay taxes. ... | [
{
"docid": "5b35f56ae9f7b7cfeda710f2447a38c3",
"text": "I've given up on trying to understand how the allowances correspond to my number of dependents. What I do instead to achieve the same end goal of having the right amount of money withheld is using a paycheck calculator. If I get paid 24 times a year ... | fiqa |
eae76d0c8dd5554133eea082f629e2aa | Is a 10 year old uncashed paycheck still good? | [
{
"docid": "536ccae68d4f08d18c19a5b3116b231e",
"text": "You probably can't deposit the check directly, but there are mechanisms in place to get your money through other means. In the US, all states and territories have an unclaimed property registry. Before you contact the company that wrote the check, you ... | [
{
"docid": "1aac6eba5fa292c4d798a14ff58e8758",
"text": "\"When I deposit my paycheck in CapOne I have an email before I am out of the app that they received my check. I have access to some portion of the cash now and the rest the next business day, however they put things in order to NOT overdraft me. For i... | fiqa |
778880460cd5e9ed7c204b185ecbfd80 | I started some small businesses but need help figuring out taxes. Should I hire a CPA? | [
{
"docid": "cafb2ea99a976ce5bbf5241c05227ca4",
"text": "The only professional designations for people allowed to provide tax advice are Attorney, EA or CPA. Attorney and CPA must be licensed in the State they practice in, EA's are licensed by the Federal government. Tax preparers are not allowed to provide ... | [
{
"docid": "11fb8e7e63dd941dffe0099876b5abc8",
"text": "If the money comes to you, then it's income. If the money goes out from you, it's an expense. You get to handle the appropriate tax documentation for those business transactions. You may also have the pleasure of filing 1099-MISC forms for all of you... | fiqa |
9e455fade7f85e86ab8413e440eb5e3a | Help: Being charged interest on a loan for which I received no statements telling me of this debt for the past 15 years. Surprise! | [
{
"docid": "9af2bf4946067893611b79bae75ae717",
"text": "\"There is a ten year statue of limitations on debt collection, bankruptcy, etc. The problem is, if you start paying, even say, $1, you \"\"acknowledge\"\" the debt and the clock starts again. Debt claims fall under the \"\"he said, she said,\"\" rubri... | [
{
"docid": "4c0ad5c834bc207b3f756d7ce3c6ed65",
"text": "\"You won't be able to sell the car with a lien outstanding on it, and whoever the lender is, they're almost certain to have a lien on the car. You would have to pay the car off first and obtain a clear title, then you could sell it. When you took out... | fiqa |
af3b4d4137bef74b31d8beb58026d0a3 | Section 179 vs depreciation of laptop | [
{
"docid": "0131c7928b076166b0885e6d33cc2f52",
"text": "I'm not a tax expert, but I think you mean Form 4562, right? If you acquire the laptop in the year for which you're filing taxes, then it is just that simple. (At least according to my reading of 4562 instructions, and my history of accepted tax retur... | [
{
"docid": "f06119600d3aea07f3eb0978ad02434e",
"text": "You would report it as business income on Schedule C. You may be able to take deductions against that income as well (home office, your computer, an android device, any advertising or promotional expenses, etc.) but you'll want to consult an accountan... | fiqa |
d58db2e509043e9612cd31c00bd21ce4 | Ethics and investment | [
{
"docid": "a9ba213c322de36dbdb0fdaee716f0b8",
"text": "\"Are there businesses which professionally invest ethically? Yes. The common term for this is \"\"socially responsible investing\"\". Looking at that page and googling that term should provide you with plenty of pointers to funds to investigate. Of ... | [
{
"docid": "6d9785cd80cb5526be4badf850cac28e",
"text": "The problem is I can't do anything with those morals. I can't grow my company with it, I can't pay my employees with it and I can't buy things with it. You should he as moral as possible, but when you are so moral that you start making moral choices ... | fiqa |
3d5b118e1c21c5790c504076a879d110 | Paying restaurants in cash instead of credit card - how signficant is this? | [
{
"docid": "0c37df888e88a0aa21a06d7f16d7bf8f",
"text": "Credit cards charge about 2% fee from merchants. This is already priced into the restaurant menu. Generally, dealing with cash will not cost the merchant significantly less since he needs to make more trips to the bank, pay fees for frequent cash depos... | [
{
"docid": "34c0ca2bb90dd623af001de51d16eae9",
"text": "Possible (unlikely) reasons: But usually, yeah, if you can pay cash, you should.",
"title": ""
},
{
"docid": "5b0d95869358bf04e59f28abbe0058a2",
"text": "\"Ever wonder why certain businesses won't accept certain credit cards? (The sign ... | fiqa |
5f13f8c8179d2e30150d1c89c1c81142 | How to acquire assets without buying them? | [
{
"docid": "9cf24905eb8a622c1f126f7420ec46f5",
"text": "Assets can be acquired in different ways and for different purposes. I will only address common legal ways of acquiring assets. You can trade one asset for another asset. This usually takes place in the form of trading cash or a cash equivalent for an ... | [
{
"docid": "bb750db5c4afe36515022584db08d3dd",
"text": "There is no reason to ever do DCA. You'll notice that no asset managers would ever dream of it. You should invest your money as soon as you get it. Throughout history, this is the utility maximizing choice. The market rises on average. Why would you ... | fiqa |
9237e30f16b10b8274c78cfc33bf668d | Is it taxable if someone return me money? | [
{
"docid": "6ff18b0a123ab0d828d643c999003ff9",
"text": "The $10,000 is not taxable to either of you, but the $500 is taxable income to you - and a deductible business expense for your friend.",
"title": ""
}
] | [
{
"docid": "692b3a6e94da9825253cac3d88d26304",
"text": "\"Taxability depends on residential status when the $ were earned. If it was earned during his status as \"\"Non-Resident\"\" in India, then its tax free. If the money was earned when his tax status was resident in India, then its taxable as per the ta... | fiqa |
7bd728610fb8dfb299a0e9cfd25350d2 | Capitalize on a falling INR | [
{
"docid": "16edb3cbd1eeac5c4363c863762cfb5c",
"text": "By no means is this a comprehensive list, but a few items to consider:",
"title": ""
},
{
"docid": "ec969f84e46d88c9a6711a69a1bb92a1",
"text": "One simplest way is to to do Forex trading. You can do this by buying Foreign Currency Futur... | [
{
"docid": "995e19b8e36871967e758402f14743c4",
"text": "That's all? What's the total shares outstanding? It's on thing is it's 100,000 and another if it's 10,000,000. What's the capitalization? If you don't know, check tech crunch and/or read the about section of your website. Having a bit of experience, m... | fiqa |
c1b80d545b6476b50cdbfecc392935f9 | How to have a small capital investment in US if I am out of the country? | [
{
"docid": "f74cfd2c8a46f886fb3b125b25e254eb",
"text": "For $100 you better just hold it in Mexico. The cost of opening an account could eat 10% or more of your capital easily, and that won't be able to buy enough shares of an ETF or similar investment to make it worthwhile.",
"title": ""
}
] | [
{
"docid": "759e601171450b86a2054b66acd393e7",
"text": "\"I will add another point to ChrisinEdmonton's answer... I recognize that this is perhaps appropriate as a comment--or maybe 1/2 of an answer, but the comment formatting is inadequate for what I want to say. The magic formula that you need to underst... | fiqa |
3123cb80237a39801f8f0e24ebaea18f | Professional tax for employees - startup in India | [
{
"docid": "04b97a83bcb4ed2eba9355dafbdea597",
"text": "The tax is depended upon state where you are registered and the salary paid. More here If you employ contract you need not pay tax.",
"title": ""
}
] | [
{
"docid": "c2355fd290d4917d14f57a1c73572a49",
"text": "Not as you suggest. Since you are sole prop, you are taxed on a cash basis. Within reason, you can prepay vendors - so temp to hire through an agency might appear more attractive than direct hire. But there needs to be a justification other than avoida... | fiqa |
a3d79114d4974d7971cc85af751f90f8 | Do I owe taxes if my deductions are higher than my income? | [
{
"docid": "207d86d0997000334265461baaa3476f",
"text": "\"There's one factor the previous posters apparently missed here: You say \"\"self-employment tax\"\"--in other words, at least some of that $16k is from self employment. In a normal employment situation the FICA tax is taken out of your paycheck, it'... | [
{
"docid": "3732f784e170d0a50982ba72ff7cb4c2",
"text": "The only ways to increase your after-tax income are to increase your tax-deferred savings (401k), increase your tax deductions, or increase your pre-tax income. Increasing tax-deferred savings is great for the long term, but will usually not result in ... | fiqa |
d63a8b2b6bc229ad494dbb63447a5f4d | Should I file taxes or Incorperate a personal project? | [
{
"docid": "a0af92a78e11e80bd05b2a3c99589328",
"text": "Normally, incorporation is for liability reasons. Just file your taxes as a business. This just means adding a T2125 to your personal return. There's no registering, that's for GST if over a certain threshold. There's even a section in the instructi... | [
{
"docid": "caac26bdd391f8e851b7ad6108cc0407",
"text": "Yes, you do. Depending on your country's laws and regulations, since you're not an employee but a self employed, you're likely to be required to file some kind of a tax return with your country's tax authority, and pay the income taxes on the money you... | fiqa |
335eb92e17f7124461c746ed0cfbe349 | Do Square credit card readers allow for personal use? | [
{
"docid": "a1eac45edacfbee6761874daf52b1603",
"text": "What I should have done in the first place was just ask them. From their customer support team: Thanks for writing in and for your interest in Square. It is perfectly acceptable to use Square for personal business, such as a yard sale. You do not need... | [
{
"docid": "7aec18814f3c28ae1a6b570030bfeae5",
"text": "There are rules and regulations as to how the credit card information must be stored, and I assume Square adhere to these rules. The point is that the barber doesn't need to see your credit card at all, and doesn't have to keep its number for keeping t... | fiqa |
c0d55502bb49e2705dc1511c69c83579 | If I invest in a company that goes bankrupt, is that a gain or a loss? | [
{
"docid": "5356f3858e3f23badd6f69f9bb16c3d4",
"text": "I'll give the credit to @Quid in the comments section of the question. You put out $10k, you got back $20k, that's a cash gain of $10k, how the asset was valued between your purchase and sale isn't relevant. From an accounting perspective, the company... | [
{
"docid": "6828c8aac1235a11ea839878bf006177",
"text": "\"Because I feel the answers given do not wholely represent the answer you are expecting, I'd like to re-iterate but include more information. When you own stock in a company, you OWN some of that company. When that company makes profit, you usually re... | fiqa |
ab09c8ac2f704f01841866cca23446ca | Getting financial advice: Accountant vs. Investment Adviser vs. Internet/self-taught? | [
{
"docid": "67cbe9429df7739550de8c0cf95a68ba",
"text": "\"Do I need an Investment Adviser? No, but you may want to explore the idea of having one. Is he going to tell me anything that my accountant can't? Probably. How much expertise are you expecting from your accountant here? Do you think your accountan... | [
{
"docid": "d77ecf24ade6171a4838084eeac4a212",
"text": "\"I have always found that the \"\"free\"\" planners are just salesmen pointing you in their best interests. Not that it won't get you a good deal in the processes, but, in my experience, they usually just recommend products that give them the best com... | fiqa |
88f591d36ef54e81c9cab95173d54322 | How does Robinhood stock broker make money? | [
{
"docid": "4e17ade0793be8969406bb0a2d23fa1e",
"text": "Robinhood seems interesting. Some say it's a gimmicky site with a nice UI not an investing or trading platform. From investopedia: 1. For now, the app stays afloat for mainly two reasons. First, the business itself is extremely lean: no physical locati... | [
{
"docid": "160028dad1a8e6ec1b09f8395175d164",
"text": "In my experience they charge you coming and going. For example, if a brokerage firm is advertising that their commissions are only $7/trade, then that means you pay money to buy the stock, plus $7 to them, and later on if you want to sell that stock yo... | fiqa |
58f5da5217a3b43e45e9740b3821461a | Credit Card Approval | [
{
"docid": "09472cd8bdfdd9f6c5506339edeb2e32",
"text": "Banks use quite a few parameters to arrive at the decision for card approval. The credit score is just one input. There are multiple other inputs it would source, for example total years in job, the number of years in current job, income streams, etc .... | [
{
"docid": "49b743482fb6c3ce7ded4219b2149524",
"text": "Three things prevent you from doing this: Credit cards generally don't accept other credit cards as payment. You could do this with a cash advance or balance transfer, but Cash advances and balance transfers usually have fees associated with them, neg... | fiqa |
efebcf7a554eeb9d76ed081b900d5310 | Can I open a personal bank account with an EIN instead of SSN? | [
{
"docid": "765e60af2e9d1a54d09edc1026346916",
"text": "\"According to IRS Publication 1635, Understanding your EIN (PDF), under \"\"What is an EIN?\"\" on page 2: Caution: An EIN is for use in connection with your business activities only. Do not use your EIN in place of your social security number (SSN). ... | [
{
"docid": "2e8d2a6fc48ad0b5eb36446712f21708",
"text": "set up a US company (WY is cheap and easy), go south and open a personal and business bank account, ask for the itin form. file for the itin. set up your EIN for the company. get a credit card for both. pay some mail forwarding service with it. file fo... | fiqa |
99820afc2bf7d7c9e9361b8a4b02421f | Why are bank transactions not instant? | [
{
"docid": "5b2fe2d74750a319ba7f3e89da773762",
"text": "\"If you want your bank to pay $1 to a beneficiary Bob, then the service (no matter how implemented) needs to result in Bob's bank saying to Bob \"\"Hey, I owe you $1\"\". The usual way how this is done consists of two parts - your bank needs to som... | [
{
"docid": "ffd1a93e5ba8df50304b578f7aee6402",
"text": "As far as I can see, this is an issue of the bank's policy rather than some legal regulation. That means that you'll need to work it out with the bank. To give you a couple of ideas to work with when you talk with them, maybe something from this list ... | fiqa |
39ca4edf3dd668244ae73b9f3ac6af8c | When an investor makes money on a short, who loses the money? | [
{
"docid": "45d30b6b15c3c64709ec89acf0a3ee0a",
"text": "\"The correct answer to this question is: the person who the short sells the stock to. Here's why this is the case. Say we have A, who owns the stock and lends it to B, who then sells it short to C. After this the price drops and B buys the stock bac... | [
{
"docid": "4b4d3454995bfc832e60836cefe5af3c",
"text": "\"Am I getting it right that in India in terms of short selling in F&O market its what in the rest of the world is called naked short and you actually make promise to depositary that you will deliver that security you sold on settlement without actuall... | fiqa |
95a0fc17e67590e224894ef67bffd131 | Deposit a cheque in an alternative name into a personal bank account (Australia) | [
{
"docid": "bd79b85d692bf9e419a41ca027831ac8",
"text": "You don't have much choice other than to open an account in your business name, then do a money transfer, as @DJClayworth says. You will not without providing your name and street address and possibly other information that you may consider to be of ... | [
{
"docid": "a9060c0ee19a5d962dc4c0ebe016c4c8",
"text": "I found a good description of these on the Laurentian Bank website. Very similar to Abraham's answer, but the details are a little different (perhaps because it's Canadian). Certified cheque: A cheque which has been certified by the bank that the fund... | fiqa |
08df63212ec0a52285a9dfcd7cfdf201 | I'm self-employed with my own LLC. How should I pay myself, given my situation? | [
{
"docid": "d85a63af069d155338adc34e9ca37a60",
"text": "\"You're conflating LLC with Corporation. They're different animals. LLC does not have \"\"S\"\" or \"\"C\"\" designations, those are just for corporations. I think what you're thinking about is electing pass through status with the IRS. This is the ea... | [
{
"docid": "e4dcc6b3ab3c7a2c70e69426a6c8820e",
"text": "You do not need to file 1099-MISC to yourself if you're running as a sole proprietor - you are yourself. However, you do not deduct this amount from your business income and report it as royalties either. Your self-published book is your business incom... | fiqa |
7ff9308127dcd57222cf64ec5ba033dc | File bankruptcy, consolidate, or other options? | [
{
"docid": "8a4a05d20eb74ffe6d7a71fe57ba1510",
"text": "If your parents' business isn't viable (regardless of what combination of the economy or their management of it caused it not to be viable) it would seem that you'd be throwing good money after bad to save it. If the whole thing gets paid off, then the... | [
{
"docid": "2d221a69223e936c8bb1b06b84d2a01c",
"text": "I wouldn't buy a house at this time. Your credit card debt is the most expensive thing you have. Which is to say that you want to get rid of it as soon as possible. The lawyer isn't cheap, and your personal situation is not fully resolved. Congratulati... | fiqa |
78261fe624c99b6fd514d6d85d9e385d | Obtaining Private Prospectuses | [
{
"docid": "0498d551c7e0a4ad4de52bfab30b7d3e",
"text": "How can I get quarterly information about private companies? Ask the owner(s). Unelss you have a relationship and they're interested in helping you, they will likely tell you no as there's no compelling reason for them to do so. It's a huge benefit o... | [
{
"docid": "fcaf54599e1643faabf88cf789396fb3",
"text": "I guess you are making quite a bit of assumptions without clarifying what you are trying to achieve. As a non-resident you cannot incorporate a sole proprietorship in Singapore. You have to be citizen. Alternatively you can register a company that has ... | fiqa |
8a94a93c4267afc2120c04e7dd722224 | What amount of money can a corporation spend on entertainment | [
{
"docid": "900adb9bbdf3136da55ded446a22ad2b",
"text": "\"There is no simple rule like \"\"you can/can't spend more/less than $X per person.\"\" Instead there is a reasonableness test. There is such a thing as an audit of just your travel and entertainment expenses - I know because I've had one for my Ontar... | [
{
"docid": "c7f98dd7ed1bf4829b4c4624c3f71b51",
"text": "\"You should probably have a tax professional help you with that (generally advisable when doing corporation returns, even if its a small S corp with a single shareholder). Some of it may be deductible, depending on the tax-exemption status of the reci... | fiqa |
1122f64f32554e947dc79f297d54531f | Estimated Taxes Fall Short of tax liability — how do I pay extra online (Federal and NYS) | [
{
"docid": "343eb328af1954172314cc6324db1e9a",
"text": "If you qualify for the safe harbor, you are not required to pay additional quarterly taxes. Of course, you're still welcome to do so if you're sure you'll owe them; however, you will not be penalized. If your income is over $150k (joint) or $75k (sing... | [
{
"docid": "b293a75aa6a5ccb721f4fe72a5f50768",
"text": "The W4 specifies withholding for income taxes, FICA taxes are not impacted. The tax withholding is do that you do not need to make estimated tax payments. Failing to make sufficient quarterly estimated tax payments or withholding a sufficient amount co... | fiqa |
d8c96b37f076a20d17bc3a40eb6e6104 | Do I only have to pay income tax on capital gains? | [
{
"docid": "68a5a4c899a2e109399eecca707bedb5",
"text": "On the revenue only. This amount of 10$ will be considered as interest and fully taxable. It will not be a capital gain. But why would you decide to declare it as an income? 100$ is insignificant. If you lend small amount to friends it cannot be consid... | [
{
"docid": "793313d45a67881b4f31326dc8143619",
"text": "Now i want to get this money in my new UK bank account, does this mean that gov will take taxes from this money as well. Yes that is income and you have to pay tax on that. But it might be a bit complicated than that, so I would ask you to call up HMRC... | fiqa |
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