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Given a financial question, retrieve user replies that best answer the question
Query:
Paying restaurants in cash instead of credit card - how signficant is this? | 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 and pocket the cash without paying income tax or sales tax, especiall... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
Query:
Paying restaurants in cash instead of credit card - how signficant is this? | You know those perks/benefits that you don't want to give up? Those are funded by the fees you are trying to eliminate by paying cash. The credit card company makes money by interest, merchant fees, and other fees such a annual fees. They give you perks to generate more transactions, thus bringing in more merchant fees... |
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Given a financial question, retrieve user replies that best answer the question
Query:
How to acquire assets without buying them? | 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 asset. The asset received should be of equal or greater value than t... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
Query:
How to acquire assets without buying them? | Your question seems to be premised on your personal understanding of economics, and asking that people present to you an explanation of business transactions that is consistent with your own personal worldview. But your premises are flawed, so an accurate answer should not accept them. The basics of trade is that somet... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
Query:
How to acquire assets without buying them? | You don't start out buying a shopping mall, you have to work up to it. You can start with any amount and work up to a larger amount. For me, I saved 30% of my salary(net), investing in stocks for 8 years. It was tough to live on less, but I had a goal to buy passive income. I put down this money to buy 3 houses, put... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
Query:
How to acquire assets without buying them? | There are a number of ways someone acquires assets without buying it. People could have inherited assets. They could have been gifted assets. They might have won assets in a lawsuit (unlikely to be a mall, but not impossible). They could have married into the assets. So there's other ways of acquiring assets without pu... |
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Given a financial question, retrieve user replies that best answer the question
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Is it taxable if someone return me money? | 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. |
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Given a financial question, retrieve user replies that best answer the question
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Capitalize on a falling INR | By no means is this a comprehensive list, but a few items to consider: |
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Given a financial question, retrieve user replies that best answer the question
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Capitalize on a falling INR | One simplest way is to to do Forex trading. You can do this by buying Foreign Currency Futures when you feel Rupee is going down or by selling those Futures when you feel Rupee will go up. |
Instruct:
Given a financial question, retrieve user replies that best answer the question
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How to have a small capital investment in US if I am out of the country? | 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. |
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Given a financial question, retrieve user replies that best answer the question
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Professional tax for employees - startup in India | 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. |
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Given a financial question, retrieve user replies that best answer the question
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Do I owe taxes if my deductions are higher than my income? | "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's normally spot on and generally doesn't show up on your tax return. Howe... |
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Given a financial question, retrieve user replies that best answer the question
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Do I owe taxes if my deductions are higher than my income? | No, it's not possible. Even if you had no deduction or credits, your federal tax on $16,604 would be: $9075 @ 10% = $907.50 + $7529 @ 15% = $1129.35 = $2036.85 That assumes you are filing as single. There must be more to the story. Typo in your income numbers? Also, what do you mean by a self-employment tax deductio... |
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Given a financial question, retrieve user replies that best answer the question
Query:
Do I owe taxes if my deductions are higher than my income? | I'm going to echo Phil and say that you should add more information. That being said, I think it is possible for you to owe the government that much. If you received a federal health insurance subsidy and live in a state that didn't expand medicaid, you could have received a subsidy through out the year that you did no... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
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Do I owe taxes if my deductions are higher than my income? | As a CPA I can say, without a doubt, you do not owe any federal income tax. However, assuming all of you income was from your business and therefore subject to self-employment tax and you had no healthcare coverage, you would owe: $2,523 in Self-Employment Tax 645 in Healthcare Penalty $3,168 Total Amount You Should... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
Query:
Do I owe taxes if my deductions are higher than my income? | "In your case, I believe the answer is that you don't owe any taxes, if your deductions exceed your income. There is something called the Alternate Minimum Tax to catch ""rich"" people, who claim ""too many"" deductions. Basically, it taxes their ""gross"" income at a lower rate, but allows them no deductions if they m... |
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Given a financial question, retrieve user replies that best answer the question
Query:
Why are U.S. credit unions not open to everyone? | Credit unions are mutually-owned (i.e. customer owned) financial institutions that provide banking services. They take deposits from their members (customers) and loan them to other members. Members vote on a board of directors who manage operations. They are considered not-for-profit, but they pay interest on depo... |
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Given a financial question, retrieve user replies that best answer the question
Query:
Why are U.S. credit unions not open to everyone? | "It's required by law. 12 USC 1759 (b) requires that membership in a credit union be limited to one or more groups with a ""common bond"", or to people within a particular geographic area. For lots more gory details on how this is interpreted and enforced, you can read the manual given to credit unions by the National... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
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Car expense deductions with multiple work locations | "Suppose that I work from home, but do not qualify for a business use of home deduction. As I understand it, this means I cannot deduct trips from home to another work location (e.g., going to a client's home or office to do work there). I do not think this is true. You cannot deduct trips to your main business l... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
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Formation of S-Corp for Gambling Trade | In a sole proprietorship AND an LLC, the expenses can still be deducted against the profits or losses from the operations. The IRS does not even require that a profit seeking activity be incorporated under its own entity, hence why this is also applicable in a sole proprietorship. From what you've said, there is no rea... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
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Formation of S-Corp for Gambling Trade | "You probably don't need S-Corp. There's no difference between what you can deduct on your Schedule C and what you can deduct on 1120S, it will just cost you more money. Since you're gambling yourself, you don't need to worry about liability - but if you do, you should probably go LLC route, much cheaper and simpler. T... |
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Given a financial question, retrieve user replies that best answer the question
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Should I file taxes or Incorperate a personal project? | 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 instructions for internet businesses. http://www.cra-arc.gc.ca/E/pub/tg/t4002... |
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Given a financial question, retrieve user replies that best answer the question
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Should I file taxes or Incorperate a personal project? | "I don't know what you mean by ""claim for taxes,"" I think you mean pay taxes. I'm not sure how corps function in Canada but in the US single owner limited liability entities typically pass the net income through to the owner to be included in their personal tax return. So it seems all of this is more or less moot... |
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Given a financial question, retrieve user replies that best answer the question
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Should I file taxes or Incorperate a personal project? | 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 money, there isn't much tax to save by clever structuring of ... |
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Given a financial question, retrieve user replies that best answer the question
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Do Square credit card readers allow for personal use? | 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 to have a registered business to take advantage of Square and the a... |
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Given a financial question, retrieve user replies that best answer the question
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Do Square credit card readers allow for personal use? | "Yes. From their TOS: ""By creating a Square Account, you confirm that you are either a legal resident of the United States, a United States citizen, or a business entity...""." |
Instruct:
Given a financial question, retrieve user replies that best answer the question
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Do Square credit card readers allow for personal use? | My husband used this device at work in an organization/club that collects dues for fundraisers. The fundraisers are only for the club. So I think that is not business at all. They have no business tax id#, etc? and they use it for personal reasons when collecting money via Cc#'s if this helps you. |
Instruct:
Given a financial question, retrieve user replies that best answer the question
Query:
Do Square credit card readers allow for personal use? | I used square in the past for personal yard sale and they did not transfer balance to my bank acct because they told me it was against their policy and I had to have a business license that they could either refund the credit cards i process or keep the money. So they kept it I never got it back. I don't recommend anyb... |
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Given a financial question, retrieve user replies that best answer the question
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Differences in taxes paid for W2 employee vs. 1099 contractor working on sites like ODesk.com? | Yes, you've summarized it well. You may be able to depreciate your computer, expense some software licenses and may be home office if you qualify, but at this scale of earning - it will probably not cover for the loss of the money you need to pay for the additional SE tax (the employer part of the FICA taxes for W2 emp... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
Query:
If I invest in a company that goes bankrupt, is that a gain or a loss? | I'll give the credit to @Quid in the comments section of the question. You put out $10k, you got back $20k, that's a cash gain of $10k, how the asset was valued between your purchase and sale isn't relevant. From an accounting perspective, the company is the only party that is realizing the loss (as they have sold the... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
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Getting financial advice: Accountant vs. Investment Adviser vs. Internet/self-taught? | "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 accountant knows everything within the realms of money from taxes, insurance p... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
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Getting financial advice: Accountant vs. Investment Adviser vs. Internet/self-taught? | An accountant should be able to advise on the tax consequences of different classes of investments/assets/debts (e.g. RRSP, TFSA, mortgage). But I would not ask an accountant which specific securities to hold in these vehicles, or what asset allocation (in terms of geography, capitalization, or class (equity vs fixed i... |
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Given a financial question, retrieve user replies that best answer the question
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Getting financial advice: Accountant vs. Investment Adviser vs. Internet/self-taught? | I think the OP is getting lost in designations. Sounds to me that what he wants is a 'financial advisor' not an 'investment advisor'. Does he even have investments? Does he want to be told which securities to buy? Or is he wanting advice on overall savings, insurance, tax-shelters, retirement planning, mortgages, ... |
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Given a financial question, retrieve user replies that best answer the question
Query:
How does Robinhood stock broker make money? | 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 locations, a small staff, no massive public relations campaigns and only... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
Query:
How does Robinhood stock broker make money? | "Yes, there is a lot they are leaving out, and I would be extremely skeptical of them because of the ""reasons"" they give for being able to charge $0 commissions. Their reasons are that they don't have physical locations and high overhead costs, the reality is that they are burning venture capital on exchange fees unt... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
Query:
How does Robinhood stock broker make money? | "Disclosure: I don't have an iPhone, so I don't use RobinHood. That being said, I have a less ""they're-out-to-get-ya"" view of what they're doing. As a small business owner (2 businesses), employees cost the most. If you can create a solid business with few (or no) employees and let robots run it, you will drastical... |
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Given a financial question, retrieve user replies that best answer the question
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How does Robinhood stock broker make money? | Charging very high prices for additional standard services: See Commission & Fees: https://brokerage-static.s3.amazonaws.com/assets/robinhood/legal/RHF%20Retail%20Commisions%20and%20Fees%20Schedule.pdf Link is down in the footer, to the left... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
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Credit Card Approval | 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 ... the exact formula is a trade secret and varies from Bank to Bank |
Instruct:
Given a financial question, retrieve user replies that best answer the question
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Credit Card Approval | Three big ones that are common in almost all banks (though, individually, they may have other criteria): Other criteria I've seen (while working in the banking industry - varying by bank): the average balance you keep on deposit accounts (checking/savings/CDs/etc), number of overdraft fees in the past 12 months (one ba... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
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Credit Card Approval | Bigger than the three mentioned above is on-time payment and/or collections activity. If your report shows you have not paid accounts on time, or have accounts in collections, that is almost guaranteed decline except for the least desirable cards. Another factor is number of hard inquiries. If you have been on a recent... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
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When should I start an LLC for my side work? | The major reason to start an LLC for side work is if you want the additional personal liability protection afforded by one. If you're operating as a sole proprietor, you may be exposing yourself to liability: debts and judgments against your business can put your personal assets at risk! So, if you're intending to con... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
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When should I start an LLC for my side work? | "An LLC is overkill for 99% of 1 man small businesses. Side-businesses should remain as sole proprieterships until they get much larger and need the benefits of the LLC laws. You can still bill through a company name if you want to start building a brand: And set aside 25% of your gross income for Uncle Sam. He wants y... |
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Given a financial question, retrieve user replies that best answer the question
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When should I start an LLC for my side work? | "Not all of the reason to start an LLC is liability (although that is implicit). There are two main reasons as far as I have experienced it: I always recommend that people set things up properly from the beginning. If you do start to grow, or if you need to cut your losses, it can be very difficult to separate yoursel... |
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Given a financial question, retrieve user replies that best answer the question
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When should I start an LLC for my side work? | It really depends on the type of business you are running. If there is any chance of liability, you should protect yourself with an LLC. Then it is much more difficult for them to sue and take personal assets. For example, if you are a wedding photographer, you would want to be an LLC in case you lose someones pict... |
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Given a financial question, retrieve user replies that best answer the question
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Can I open a personal bank account with an EIN instead of SSN? | "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). As you say your EIN is for your business as a sole proprietor, I would al... |
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Given a financial question, retrieve user replies that best answer the question
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Why are bank transactions not instant? | "If you want your bank to pay $1 to a beneficiary Bob, then the service (no matter how implemented) needs to result in Bob's bank saying to Bob ""Hey, I owe you $1"". The usual way how this is done consists of two parts - your bank needs to somehow tell Bob's bank ""hey guys, do us a favor and please give Bob $1 wit... |
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Given a financial question, retrieve user replies that best answer the question
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Why are bank transactions not instant? | It is a rather complex system, but here is a rough summary. Interbank tranfers ultimately require a transfer of reserves at the central bank. As a concrete example, the bank of england system is the rtgs. Only the clearing banks and similar (e.g. bacs) have access to rtgs. You can send a chaps payment fairly quickly, b... |
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Given a financial question, retrieve user replies that best answer the question
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What is network marketing? | "Network Marketing (also called multi-level marketing) isn't necessarily a skill that you learn in a course. It's a type of business model that's used by companies like Avon, Southern Living, Mary Kay, etc. It's also used in many scams (called pyramid schemes, but the aforementioned companies are using the pyramid stru... |
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Given a financial question, retrieve user replies that best answer the question
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Can I claim mileage for traveling to a contract position? | "The short answer is yes you can, but you have to make sure you do it correctly. If you are employed by a tech company that does contract work at a separate location and you don't get reimbursed by your employer for travel expenses, you can claim the mileage between your home and location B as a business expense, but ... |
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Given a financial question, retrieve user replies that best answer the question
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When an investor makes money on a short, who loses the money? | "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 back from D and returns it to A. The outcome for A is neutral. Typicall... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
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When an investor makes money on a short, who loses the money? | Michael gave a good answer describing the transaction but I wanted to follow up on your questions about the lender. First, the lender does charge interest on the borrowed securities. The amount of interest can vary based on a number of factors, such as who is borrowing, how much are they borrowing, and what stock are t... |
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Given a financial question, retrieve user replies that best answer the question
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When an investor makes money on a short, who loses the money? | Not really. The lender is not buying the stock back at a lower price. Remember, he already owns it, so he need not buy it again. The person losing is the one from whom the short seller buys back the stock, provided that person bought the stock at higher price. So if B borrowed from A(lender) and sold it to C, and late... |
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Given a financial question, retrieve user replies that best answer the question
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Excessive Credit Check from Comcast | "In general, it is unusual for a credit check to occur when you are terminating a contract, since you are no longer requesting credit. If the credit check was a ""hard pull"" it will stay on your credit report for 2 years, but will only have an impact on your credit score for up to 12 months. If the check is a ""soft p... |
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Given a financial question, retrieve user replies that best answer the question
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Deposit a cheque in an alternative name into a personal bank account (Australia) | 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 a private nature. This is due to laws about fraud, money laundering ... |
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Given a financial question, retrieve user replies that best answer the question
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Deposit a cheque in an alternative name into a personal bank account (Australia) | You actually don't have to open a business account with your bank, you can have a personal account with the bank and have your business funds go into it, whether it be from cheques or from Eftpos\Credit Card Facilities. You just have to get your customers to make the cheque out under your name (the same name used for y... |
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Given a financial question, retrieve user replies that best answer the question
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Deposit a cheque in an alternative name into a personal bank account (Australia) | Banks has to complete KYC. In case you want to open a bank account, most will ask for proof of address. I also feel it is difficult for bank to encash a cheque payable to a business in your account. Opening a bank account in the name of your business or alternatively obtaining a cheque payable to your personal name see... |
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Given a financial question, retrieve user replies that best answer the question
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Deposit a cheque in an alternative name into a personal bank account (Australia) | "Unfortunately, Australian bureocrats made it impossible to register a small business without making the person's home address, full name, date of birth and other personal information available to the whole world. They tell us the same old story about preventing crime, money laundering and terrorism, but in fact it is ... |
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Given a financial question, retrieve user replies that best answer the question
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why if change manufacturing of a product not change the price for the buyer? | In highly developed and competitive industries companies tread a continuous and very fine line between maximising shareholder profits by keeping prices up while making products as cheaply as possible, vs competitors lowering prices when they work out a way to make equivalents cheaper. In the short run you will quite of... |
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Given a financial question, retrieve user replies that best answer the question
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I'm self-employed with my own LLC. How should I pay myself, given my situation? | "You're conflating LLC with Corporation. They're different animals. LLC does not have ""S"" or ""C"" designations, those are just for corporations. I think what you're thinking about is electing pass through status with the IRS. This is the easiest way to go. The company can pay you at irregular intervals in irregular ... |
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Given a financial question, retrieve user replies that best answer the question
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Form 1042-S for foreign resident and owner of trade account | As you have indicated, the 1042-S reflects no income or withholding. As such, you are not required to file a US tax return unless you have other income from the US. Gains on stocks are not reported until realized upon sale. FYI, your activity does not fit the requirements of being engaged in a trade or business activ... |
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Given a financial question, retrieve user replies that best answer the question
Query:
Under specific conditions can I write off Spotify or other streaming audio services? | Nice try. No. If you were in the music industry, you might have a case. Depending on the exact job, certain things related to music would be a business expense. I don't see how this would pass an audit as it really is unrelated to the work you do. |
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File bankruptcy, consolidate, or other options? | 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 they get rid of the debt, but the economy will still be in the tank and... |
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Given a financial question, retrieve user replies that best answer the question
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File bankruptcy, consolidate, or other options? | If your parents can afford to shell out $1,250 a month for 5 years, they would pretty much have the debt paid off, provided the credit card companies don't start playing games with rates. If that payment is too high, maybe you could kick in $5k every few months to knock the principal down. If they think the business c... |
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File bankruptcy, consolidate, or other options? | A couple of thoughts from someone who's kind of been there... Is the business viable at all? A lot of people do miss the jumping-off point where the should stop throwing good money after bad and just pull the plug on the business. If the business is not that viable, then selling it might not be an option. If the busine... |
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Given a financial question, retrieve user replies that best answer the question
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File bankruptcy, consolidate, or other options? | "I think you're asking yourself the wrong question. The real question you should be asking yourself is this: ""Do I want to a) give my parents a $45,000 gift, b) make them $45,000 loan, or c) neither?"" The way you are talking in your question is as if you have the responsibility and authority to manage their lives.... |
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Given a financial question, retrieve user replies that best answer the question
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File bankruptcy, consolidate, or other options? | "Tough spot. I'm guessing the credit cards are a personal line of credit in their name and not the company's (the fact that the business can be liquidated separately from your parents means they did at least set up an LLC or similar business entity). Using personal debt to save a company that could have just been disso... |
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Given a financial question, retrieve user replies that best answer the question
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Are companies in California obliged to provide invoices? | We run into this all the time with our EU clients. As far as I can tell, the only requirements when it comes to invoicing have to do with sales tax, which is determined at the state level, and only in the case that items are taxable. It seems that the service provided to you is not taxable and so there is no obligation... |
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Obtaining Private Prospectuses | 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 of not taking a company public. |
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What amount of money can a corporation spend on entertainment | "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 Ontario corporation. I've deducted company Christmas parties, and going-away d... |
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Given a financial question, retrieve user replies that best answer the question
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Estimated Taxes Fall Short of tax liability — how do I pay extra online (Federal and NYS) | 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 (single), your safe harbor is: Estimated tax safe harbor for higher incom... |
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Given a financial question, retrieve user replies that best answer the question
Query:
Does being involved in the management of a corporation make me ineligible for a workshare program? | "Assuming you are paying into and eligible to collect regular Employment Insurance benefits for the job in question, I don't see how owning a side business would, by itself, affect your ability to participate in the workshare program. Many people own dormant businesses ($0 revenue / $0 income), or businesses with insi... |
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Given a financial question, retrieve user replies that best answer the question
Query:
Do I only have to pay income tax on capital gains? | On the revenue only. This amount of 10$ 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 considered a lending business. |
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Query:
how to show income from paypal as export income | PayPal pays with service tax, where ever you have exported you would have given the invoice, and the statement should be shown. I am also an exporter, I know the rules some times a CA might not be aware of PayPal. Just show your statement from PayPal and the deduction. |
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Query:
Renting out rooms in my home, what's the proper way to deal with utilities for tax purposes? | It's the same result either way. Say the bills are $600, and you are reimbursed $400. You'd be able to write off $400 as part of the utilities that are common expenses, but then claim the $400 as income. I'd stick with that, and have contemporaneous records supporting all cash flow. You also can take 2/3 of any other... |
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Given a financial question, retrieve user replies that best answer the question
Query:
How do I treat the income from an ESPP I sold now that I am a non-resident alien? | "That's a tricky question and you should consult a tax professional that specializes on taxation of non-resident aliens and foreign expats. You should also consider the provisions of the tax treaty, if your country has one with the US. I would suggest you not to seek a ""free advice"" on internet forums, as the costs o... |
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Given a financial question, retrieve user replies that best answer the question
Query:
Should I keep copies of my business's invoices for tax records? | It's always beneficial to have detailed business records. There are any number of reasons where you'd need to prove both the types of services you've rendered and the payment history - you've already noted audits (for IRS taxes). Other possibilities: Whether these records need to be original or electronic might be th... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
Query:
Ways to invest my saved money in Germany in a halal way? | "The UK has Islamic banks. I don't know whether Germany has the same or not (with a quick search I can find articles stating intentions to establish one, but not the results). Even if there's none in Germany, I assume that with some difficulty you could use banks elsewhere in the EU and even non-Euro-denominated. I can... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
Query:
Ways to invest my saved money in Germany in a halal way? | You can invest in a couple of Sharia-conform ETFs which are available in Germany and issued by Deutsche Bank (and other financial institutions). For instance, have a look at these ETFs: DB Sharia ETFs In addition, Kuveyt Turk Bank aims to become Germany's first Islamic bank offering Sharia conform investments (Reuters... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
Query:
Ways to invest my saved money in Germany in a halal way? | "What is actually a halal investment? Your definition of halal investment is loose and subject to interpretation. On one hand, nothing is fixed in the financial world. You might get a 10 Year Germany Bund with a fixed coupon rate of 1%, but the real rate of return of this investment is far from fixed. It depends on the... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
Query:
Ways to invest my saved money in Germany in a halal way? | What is not permitted in Islam is the practice of making unethical or immoral monetary loans that unfairly enrich the lender. Originally, usury meant interest of any kind. A loan may be considered usurious because of excessive or abusive interest rates or other factors. But In case of financial markets, people borrow m... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
Query:
My company owed taxes for many years, An accountant asked me to ignore it and register a new one. Is it a right thing to do? | I think the first step is to get an accountant whose advice you believe. Your accountant is far better placed to advise you on what sounds like a fairly complicated, fairly high stakes corporate arrangement than the internet. I would go back to the accountant and get him to explain in writing what his specific advice ... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
Query:
Tax planning for Indian TDS on international payments | Tax Deducted at source is applicable to Employee / Employer [contract employee] relations ... it was also made applicable for cases where an Indian company pays for software products [like MS Word etc] as the product is not sold, but is licensed and is treated as Royalty [unlike sale of a consumer product, that you hav... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
Query:
Tax planning for Indian TDS on international payments | I am an Israeli based citizen who represents and Indian company who sells its products in Israel. As an agent I am entitled to commission on sales on behalf the Indian company who advised that. Any commission paid to you will be applicable to TDS at 20.9% of the commission amount, the tax will be paid and a Tax paid ce... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
Query:
Can I deduct my individual Health Insurance Premium in Tax | "Yes, you can. See the instructions for line 29 of form 1040. Self employed health insurance premiums are an ""above the line"" deduction." |
Instruct:
Given a financial question, retrieve user replies that best answer the question
Query:
Tax deductions on car and/or home? | If you itemize your deductions then the interest that you pay on your primary residence is tax deductible. Also realestate tax is also deductible. Both go on Schedule A. The car payment is not tax deductible. You will want to be careful about claiming business deduction for home or car. The IRS has very strict rules ... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
Query:
Are banks really making less profit when interest rates are low? | profit has nothing to do with the level of interest rates. Is this correct? In theory, yes. The difference that you're getting at is called net interest margin. As long as this stays constant, so does the bank's profit. According to this article: As long as the interest rate charged on loans doesn't decline faster than... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
Query:
Are banks really making less profit when interest rates are low? | I've read this claim many times in the news: banks are making less profit from the lending business when interest rates are historically low. The issue with most loans is they can be satisfied at any time. When you have falling interest rates it means most of the banks loans are refinanced from nice high rates to curr... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
Query:
Are banks really making less profit when interest rates are low? | "Banks make less profit when ""long"" rates are low compared to ""short"" rates. Banks lend for long term purposes like five year business loans or 30 year mortgages. They get their funds from (mostly) ""short term"" deposits, which can be emptied in days. Banks make money on the difference between 5 and 30 year rates,... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
Query:
Why would a company care about the price of its own shares in the stock market? | Stock price is an indicator about the health of the company. Increased profits (for example) will drive the stock price up; excessive debt (for example) will drive it down. The stock price has a profound effect on the company overall: for example, a declining share price will make it hard to secure credit, attract fur... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
Query:
Why would a company care about the price of its own shares in the stock market? | The other answer has some good points, to which I'll add this: I believe you're only considering a company's Initial Public Offering (IPO), when shares are first offered to the public. An IPO is the way most companies get a public listing on the stock market. However, companies often go to market again and again to i... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
Query:
Why would a company care about the price of its own shares in the stock market? | Shareholders get to vote for the board, the board appoints the CEO. This makes the CEO care, which in turn makes everybody else working in the company care. Also, if the company wants to borrow money a good share price, as sign of a healthy company, gives them more favorable conditions from lenders. And some more point... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
Query:
Why would a company care about the price of its own shares in the stock market? | Fiduciary They are obligated by the rules of the exchanges they are listed with. Furthermore, there is a strong chance that people running the company also have stock, so it personally benefits them to create higher prices. Finally, maybe they don't care about the prices directly, but by being a good company with a goo... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
Query:
Why would a company care about the price of its own shares in the stock market? | Why do companies exist? Well, the corporate charter describes why the company exists. Usually the purpose is to enrich the shareholders. The owners of a company want to make money, in other words. There are a number of ways that a shareholder can make money off a stock: As such, maintaining the stock price and dividend... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
Query:
Why would a company care about the price of its own shares in the stock market? | The fact you are asking this question, the number of up votes, uncovers the real cause of the banking crisis. Answers which mention that shareholders will fire a public company board are on the bottom. It is obvious that a company owners are interested in company value. And should have direct and easy impact on a di... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
Query:
Why would a company care about the price of its own shares in the stock market? | The most significant reason is that if the board of directors of a company neglects the stock value, the stockholders will vote them out of their jobs. |
Instruct:
Given a financial question, retrieve user replies that best answer the question
Query:
Why would a company care about the price of its own shares in the stock market? | The main reason is that a public company is owned by its share holders, and share holders would care about the price of the stock they are owning, therefore the company would also care, because if the price go down too much, share holders become angry and may vote to oust the company's management. |
Instruct:
Given a financial question, retrieve user replies that best answer the question
Query:
Why would a company care about the price of its own shares in the stock market? | Overpriced shares: Cheaper to raise new capital through secondary share offerings or debt using shares as a security. Fends off hostile take overs, since the company is too dear. When a company is taken over it needs only one set of management. Top management of the company that is taken over loses their jobs - no one ... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
Query:
Why would a company care about the price of its own shares in the stock market? | Aside of the other (mostly valid) answers, share price is the most common method of valuating the company. Here is a bogus example that will help you understand the general point: Now, suppose that Company A wants to borrow $20 Million from a bank... Not a chance. Company B? Not a problem. Same situation when trying t... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
Query:
Why would a company care about the price of its own shares in the stock market? | Originally, stocks were ownership in a company just like any other business- you expected to make a profit from your investment, which is what we call dividends to stock holders. Since these dividends had real value, the stock price was based on what this return rate was, factoring in what it might be expected to be in... |
Instruct:
Given a financial question, retrieve user replies that best answer the question
Query:
Why would a company care about the price of its own shares in the stock market? | Because it's a good indicator of how much their asset worth. In oversimplified example, wouldn't you care how much your house, car, laptop worth? Over the course of your life you might need to buy a bigger house, sell your car etc. to cope with your financial goal / situation. It's similar in company's case but with mu... |
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