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<s>[INST] <<SYS>> Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. <</SYS>> How does Robinhood stock broker make money? [/INST] Yes, there is a lot they are leaving out, and I would be extremely skeptical of them because of the "reasons" the...
<s>[INST] <<SYS>> Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering <</SYS>> How does Robinhood stock broker make money? [/INST] Disclosure: I don't have an iPhone, so I don't use RobinHood. That being said, I have a less "they're-o...
<s>[INST] <<SYS>> Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. <</SYS>> How does Robinhood stock broker make money? [/INST] Charging very high prices for additional standard services: See Commission & Fees: https://brokerag...
<s>[INST] <<SYS>> Share your insights or perspective on the financial matter presented in the input. <</SYS>> Credit Card Approval [/INST] 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...
<s>[INST] <<SYS>> Offer your thoughts or opinion on the input financial query or topic using your financial background. <</SYS>> Credit Card Approval [/INST] 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 i...
<s>[INST] <<SYS>> Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. <</SYS>> Credit Card Approval [/INST] Bigger than the three mentioned above is on-time payment and/or collections activity. If your report shows you have not paid accounts on...
<s>[INST] <<SYS>> Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering <</SYS>> When should I start an LLC for my side work? [/INST] The major reason to start an LLC for side work is if you want the additional personal liability protec...
<s>[INST] <<SYS>> Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. <</SYS>> When should I start an LLC for my side work? [/INST] An LLC is overkill for 99% of 1 man small businesses. Side-businesses should remain as sole propri...
<s>[INST] <<SYS>> Share your insights or perspective on the financial matter presented in the input. <</SYS>> When should I start an LLC for my side work? [/INST] 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 recomme...
<s>[INST] <<SYS>> Offer your thoughts or opinion on the input financial query or topic using your financial background. <</SYS>> When should I start an LLC for my side work? [/INST] 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. ...
<s>[INST] <<SYS>> Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. <</SYS>> Can I open a personal bank account with an EIN instead of SSN? [/INST] According to IRS Publication 1635, Understanding your EIN (PDF), under "What is an EIN?" on pa...
<s>[INST] <<SYS>> Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering <</SYS>> Why are bank transactions not instant? [/INST] If you want your bank to pay $1 to a beneficiary Bob, then the service (no matter how implemented) needs to ...
<s>[INST] <<SYS>> Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. <</SYS>> Why are bank transactions not instant? [/INST] It is a rather complex system, but here is a rough summary. Interbank tranfers ultimately require a tran...
<s>[INST] <<SYS>> Share your insights or perspective on the financial matter presented in the input. <</SYS>> What is network marketing? [/INST] 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, ...
<s>[INST] <<SYS>> Offer your thoughts or opinion on the input financial query or topic using your financial background. <</SYS>> Can I claim mileage for traveling to a contract position? [/INST] 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 d...
<s>[INST] <<SYS>> Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. <</SYS>> When an investor makes money on a short, who loses the money? [/INST] The correct answer to this question is: the person who the short sells the stock to. Here's why...
<s>[INST] <<SYS>> Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering <</SYS>> When an investor makes money on a short, who loses the money? [/INST] Michael gave a good answer describing the transaction but I wanted to follow up on yo...
<s>[INST] <<SYS>> Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. <</SYS>> When an investor makes money on a short, who loses the money? [/INST] Not really. The lender is not buying the stock back at a lower price. Remember, h...
<s>[INST] <<SYS>> Share your insights or perspective on the financial matter presented in the input. <</SYS>> financial institution wants share member break down for single member LLC [/INST] What exactly would the financial institution need to see to make them comfortable with these regulations The LLC Operating Agre...
<s>[INST] <<SYS>> Offer your thoughts or opinion on the input financial query or topic using your financial background. <</SYS>> Excessive Credit Check from Comcast [/INST] 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 credi...
<s>[INST] <<SYS>> Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. <</SYS>> Deposit a cheque in an alternative name into a personal bank account (Australia) [/INST] You don't have much choice other than to open an account in your business na...
<s>[INST] <<SYS>> Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering <</SYS>> Deposit a cheque in an alternative name into a personal bank account (Australia) [/INST] You actually don't have to open a business account with your bank,...
<s>[INST] <<SYS>> Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. <</SYS>> Deposit a cheque in an alternative name into a personal bank account (Australia) [/INST] Banks has to complete KYC. In case you want to open a bank acc...
<s>[INST] <<SYS>> Share your insights or perspective on the financial matter presented in the input. <</SYS>> Deposit a cheque in an alternative name into a personal bank account (Australia) [/INST] Unfortunately, Australian bureocrats made it impossible to register a small business without making the person's home ad...
<s>[INST] <<SYS>> Offer your thoughts or opinion on the input financial query or topic using your financial background. <</SYS>> why if change manufacturing of a product not change the price for the buyer? [/INST] In highly developed and competitive industries companies tread a continuous and very fine line between ma...
<s>[INST] <<SYS>> Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. <</SYS>> I'm self-employed with my own LLC. How should I pay myself, given my situation? [/INST] You're conflating LLC with Corporation. They're different animals. LLC does n...
<s>[INST] <<SYS>> Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering <</SYS>> Form 1042-S for foreign resident and owner of trade account [/INST] As you have indicated, the 1042-S reflects no income or withholding. As such, you are n...
<s>[INST] <<SYS>> Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. <</SYS>> Under specific conditions can I write off Spotify or other streaming audio services? [/INST] Nice try. No. If you were in the music industry, you might...
<s>[INST] <<SYS>> Share your insights or perspective on the financial matter presented in the input. <</SYS>> File bankruptcy, consolidate, or other options? [/INST] 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...
<s>[INST] <<SYS>> Offer your thoughts or opinion on the input financial query or topic using your financial background. <</SYS>> File bankruptcy, consolidate, or other options? [/INST] 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...
<s>[INST] <<SYS>> Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. <</SYS>> File bankruptcy, consolidate, or other options? [/INST] A couple of thoughts from someone who's kind of been there... Is the business viable at all? A lot of people ...
<s>[INST] <<SYS>> Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering <</SYS>> File bankruptcy, consolidate, or other options? [/INST] I think you're asking yourself the wrong question. The real question you should be asking yourself ...
<s>[INST] <<SYS>> Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. <</SYS>> File bankruptcy, consolidate, or other options? [/INST] Tough spot. I'm guessing the credit cards are a personal line of credit in their name and not t...
<s>[INST] <<SYS>> Share your insights or perspective on the financial matter presented in the input. <</SYS>> Are companies in California obliged to provide invoices? [/INST] 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 ...
<s>[INST] <<SYS>> Offer your thoughts or opinion on the input financial query or topic using your financial background. <</SYS>> Obtaining Private Prospectuses [/INST] 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, th...
<s>[INST] <<SYS>> Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. <</SYS>> What amount of money can a corporation spend on entertainment [/INST] There is no simple rule like "you can/can't spend more/less than $X per person." Instead there ...
<s>[INST] <<SYS>> Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering <</SYS>> Estimated Taxes Fall Short of tax liability — how do I pay extra online (Federal and NYS) [/INST] If you qualify for the safe harbor, you are not required ...
<s>[INST] <<SYS>> Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. <</SYS>> Sole proprietorship or LLC? [/INST] The primary advantage is protection of your personal assets. If your LLC gets sued, they can't take your house/car/...
<s>[INST] <<SYS>> Share your insights or perspective on the financial matter presented in the input. <</SYS>> why is buying trading-stock from cash not regarded as an expense? [/INST] Because the stock still has the same value as the money paid for it - you are just exchanging one asset for another (of course the stoc...
<s>[INST] <<SYS>> Offer your thoughts or opinion on the input financial query or topic using your financial background. <</SYS>> Does being involved in the management of a corporation make me ineligible for a workshare program? [/INST] Assuming you are paying into and eligible to collect regular Employment Insurance b...
<s>[INST] <<SYS>> Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. <</SYS>> Do I only have to pay income tax on capital gains? [/INST] On the revenue only. This amount of 10$ will be considered as interest and fully taxable. It will not be a...
<s>[INST] <<SYS>> Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering <</SYS>> how to show income from paypal as export income [/INST] PayPal pays with service tax, where ever you have exported you would have given the invoice, and th...
<s>[INST] <<SYS>> Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. <</SYS>> Renting out rooms in my home, what's the proper way to deal with utilities for tax purposes? [/INST] It's the same result either way. Say the bills are...
<s>[INST] <<SYS>> Share your insights or perspective on the financial matter presented in the input. <</SYS>> How do I treat the income from an ESPP I sold now that I am a non-resident alien? [/INST] That's a tricky question and you should consult a tax professional that specializes on taxation of non-resident aliens ...
<s>[INST] <<SYS>> Offer your thoughts or opinion on the input financial query or topic using your financial background. <</SYS>> Should I keep copies of my business's invoices for tax records? [/INST] It's always beneficial to have detailed business records. There are any number of reasons where you'd need to prove bo...
<s>[INST] <<SYS>> Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. <</SYS>> Ways to invest my saved money in Germany in a halal way? [/INST] The UK has Islamic banks. I don't know whether Germany has the same or not (with a quick search I ca...
<s>[INST] <<SYS>> Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering <</SYS>> Ways to invest my saved money in Germany in a halal way? [/INST] You can invest in a couple of Sharia-conform ETFs which are available in Germany and issue...
<s>[INST] <<SYS>> Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. <</SYS>> Ways to invest my saved money in Germany in a halal way? [/INST] What is actually a halal investment? Your definition of halal investment is loose and ...
<s>[INST] <<SYS>> Share your insights or perspective on the financial matter presented in the input. <</SYS>> Ways to invest my saved money in Germany in a halal way? [/INST] What is not permitted in Islam is the practice of making unethical or immoral monetary loans that unfairly enrich the lender. Originally, usury ...
<s>[INST] <<SYS>> Offer your thoughts or opinion on the input financial query or topic using your financial background. <</SYS>> 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? [/INST] I think the first step is to get an accountant whose advi...
<s>[INST] <<SYS>> Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. <</SYS>> Tax planning for Indian TDS on international payments [/INST] Tax Deducted at source is applicable to Employee / Employer [contract employee] relations ... it was al...
<s>[INST] <<SYS>> Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering <</SYS>> Tax planning for Indian TDS on international payments [/INST] I am an Israeli based citizen who represents and Indian company who sells its products in Isr...
<s>[INST] <<SYS>> Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. <</SYS>> Can I deduct my individual Health Insurance Premium in Tax [/INST] Yes, you can. See the instructions for line 29 of form 1040. Self employed health in...
<s>[INST] <<SYS>> Share your insights or perspective on the financial matter presented in the input. <</SYS>> Tax deductions on car and/or home? [/INST] 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...
<s>[INST] <<SYS>> Offer your thoughts or opinion on the input financial query or topic using your financial background. <</SYS>> What happens to your spouse's sole proprietorship if they die? [/INST] For sure you should get a lawyer on this one, but it would seem to me that the simplest path forward would be to conver...
<s>[INST] <<SYS>> Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. <</SYS>> Are banks really making less profit when interest rates are low? [/INST] profit has nothing to do with the level of interest rates. Is this correct? In theory, yes. ...
<s>[INST] <<SYS>> Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering <</SYS>> Are banks really making less profit when interest rates are low? [/INST] I've read this claim many times in the news: banks are making less profit from the...
<s>[INST] <<SYS>> Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. <</SYS>> Are banks really making less profit when interest rates are low? [/INST] Banks make less profit when "long" rates are low compared to "short" rates. Ba...
<s>[INST] <<SYS>> Share your insights or perspective on the financial matter presented in the input. <</SYS>> Why would a company care about the price of its own shares in the stock market? [/INST] Stock price is an indicator about the health of the company. Increased profits (for example) will drive the stock price u...
<s>[INST] <<SYS>> Offer your thoughts or opinion on the input financial query or topic using your financial background. <</SYS>> Why would a company care about the price of its own shares in the stock market? [/INST] The other answer has some good points, to which I'll add this: I believe you're only considering a com...
<s>[INST] <<SYS>> Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. <</SYS>> Why would a company care about the price of its own shares in the stock market? [/INST] Shareholders get to vote for the board, the board appoints the CEO. This make...
<s>[INST] <<SYS>> Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering <</SYS>> Why would a company care about the price of its own shares in the stock market? [/INST] Fiduciary They are obligated by the rules of the exchanges they are...
<s>[INST] <<SYS>> Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. <</SYS>> Why would a company care about the price of its own shares in the stock market? [/INST] Why do companies exist? Well, the corporate charter describes w...
<s>[INST] <<SYS>> Share your insights or perspective on the financial matter presented in the input. <</SYS>> Why would a company care about the price of its own shares in the stock market? [/INST] The fact you are asking this question, the number of up votes, uncovers the real cause of the banking crisis. Answers whi...
<s>[INST] <<SYS>> Offer your thoughts or opinion on the input financial query or topic using your financial background. <</SYS>> Why would a company care about the price of its own shares in the stock market? [/INST] The most significant reason is that if the board of directors of a company neglects the stock value, t...
<s>[INST] <<SYS>> Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. <</SYS>> Why would a company care about the price of its own shares in the stock market? [/INST] The main reason is that a public company is owned by its share holders, and s...
<s>[INST] <<SYS>> Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering <</SYS>> Why would a company care about the price of its own shares in the stock market? [/INST] Overpriced shares: Cheaper to raise new capital through secondary s...
<s>[INST] <<SYS>> Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. <</SYS>> Why would a company care about the price of its own shares in the stock market? [/INST] Aside of the other (mostly valid) answers, share price is the m...
<s>[INST] <<SYS>> Share your insights or perspective on the financial matter presented in the input. <</SYS>> Why would a company care about the price of its own shares in the stock market? [/INST] Originally, stocks were ownership in a company just like any other business- you expected to make a profit from your inve...
<s>[INST] <<SYS>> Offer your thoughts or opinion on the input financial query or topic using your financial background. <</SYS>> Why would a company care about the price of its own shares in the stock market? [/INST] Because it's a good indicator of how much their asset worth. In oversimplified example, wouldn't you c...
<s>[INST] <<SYS>> Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. <</SYS>> Why would a company care about the price of its own shares in the stock market? [/INST] Investors are typically a part of the board of directors of the company. Beca...
<s>[INST] <<SYS>> Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering <</SYS>> Deducting SEP-IRA contributions as a sole proprietor with no employees [/INST] SEP IRA deduction goes to line 28 of your 1040, which is above the line (i.e...
<s>[INST] <<SYS>> Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. <</SYS>> What percentage of my company should I have if I only put money? [/INST] There is no universal answer here; it depends on how much risk each person is ...
<s>[INST] <<SYS>> Share your insights or perspective on the financial matter presented in the input. <</SYS>> What percentage of my company should I have if I only put money? [/INST] Question (which you need to ask yourself): How well are your friends paid for their work? What would happen if you just took your money ...
<s>[INST] <<SYS>> Offer your thoughts or opinion on the input financial query or topic using your financial background. <</SYS>> Is the repayment of monies loaned to my company considered income? [/INST] I'm a Finance major in Finland and here is how it would go here. As you loan money to the company, the company has ...
<s>[INST] <<SYS>> Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. <</SYS>> Where to request ACH Direct DEBIT of funds from MY OWN personal bank account? [/INST] Call Wells Fargo or go to a branch. Tell them what you're trying to accomplish,...
<s>[INST] <<SYS>> Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering <</SYS>> How can Schwab afford to refund all my ATM fees? [/INST] I am using my debit card regularly: in ATM's with a pin, in stores with my signature, and online. ...
<s>[INST] <<SYS>> Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. <</SYS>> How can Schwab afford to refund all my ATM fees? [/INST] Schwab is a highly diversified operation and has a multitude of revenue streams. Schwab obviou...
<s>[INST] <<SYS>> Share your insights or perspective on the financial matter presented in the input. <</SYS>> How can Schwab afford to refund all my ATM fees? [/INST] Like a lot of businesses, they win on the averages, which means lucrative customers subsidize the money-losers. This is par for the course. It's the hea...
<s>[INST] <<SYS>> Offer your thoughts or opinion on the input financial query or topic using your financial background. <</SYS>> UK companies house - what can I glean from an abbreviated balance sheet? [/INST] What this abbreviated balance sheet tells you is that this company has negative equity. The liabilities are g...
<s>[INST] <<SYS>> Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. <</SYS>> How much accounting knowledge is needed to read financial statements of publicly traded companies? [/INST] I'm a senior majoring in accounting and management informa...
<s>[INST] <<SYS>> Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering <</SYS>> How much accounting knowledge is needed to read financial statements of publicly traded companies? [/INST] From my experience you don't need knowledge of a...
<s>[INST] <<SYS>> Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. <</SYS>> US Self-Employment Tax: Do expenses stack with the 50% SE deduction? [/INST] Business expenses reduce business income. The SE tax is paid on business i...
<s>[INST] <<SYS>> Share your insights or perspective on the financial matter presented in the input. <</SYS>> I am under 18 years old, in the US, my parents have terrible credit, how can I take out a loan? [/INST] Depending on the state this might not be possible. Loans are considered contracts, and various states reg...
<s>[INST] <<SYS>> Offer your thoughts or opinion on the input financial query or topic using your financial background. <</SYS>> I am under 18 years old, in the US, my parents have terrible credit, how can I take out a loan? [/INST] I am 17 and currently have a loan out for a car. My parents also have terrible credit,...
<s>[INST] <<SYS>> Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. <</SYS>> UK limited company and personal bank account [/INST] I don't think there is a legal requirement that you need a separate bank account. Just remember that you can onl...
<s>[INST] <<SYS>> Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering <</SYS>> Does receiving a 1099-MISC require one to file a tax return even if he normally would not be required to file? [/INST] Does he need to file a tax return in...
<s>[INST] <<SYS>> Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. <</SYS>> US taxes and refunding/returning payment [/INST] Get the worker put it in writing, and deduct it in December under constructive receipt rules. The fact...
<s>[INST] <<SYS>> Share your insights or perspective on the financial matter presented in the input. <</SYS>> Are there any issues with registering an LLC in a foreign state? [/INST] No, there are no issues. When you form the corp in DE, you pick a business there to serve as your "agent" (essentially someone who knows...
<s>[INST] <<SYS>> Offer your thoughts or opinion on the input financial query or topic using your financial background. <</SYS>> Are there any issues with registering an LLC in a foreign state? [/INST] This is an older question but I thought I'd give the correct response for anyone else that might look. Yes there defi...
<s>[INST] <<SYS>> Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. <</SYS>> Challenged an apparently bogus credit card charge, what happens now? [/INST] Yes. For $15 it's not worth anyone's time to dig deep just for this specific occurrence....
<s>[INST] <<SYS>> Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering <</SYS>> What are the tax consequences if my S corporation earns money in a foreign country? [/INST] Be careful here: If ACME were in California, I would pay taxes ...
<s>[INST] <<SYS>> Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. <</SYS>> Can limits be placed by a merchant on which currency notes are accepted as legal tender? [duplicate] [/INST] Can they reject a hundred dollar bill as a...
<s>[INST] <<SYS>> Share your insights or perspective on the financial matter presented in the input. <</SYS>> Do I need to pay taxes in India? [/INST] Do I need to pay taxes in India in this scenario? For India tax purposes, you would still qualify as "Resident Indian". As a resident Indian you have to pay taxes on Gl...
<s>[INST] <<SYS>> Offer your thoughts or opinion on the input financial query or topic using your financial background. <</SYS>> Capital gains tax when I sell my home if I use a portion of it for an AirBnB [/INST] Getting the first year right for any rental property is key. It is even more complex when you rent a room...
<s>[INST] <<SYS>> Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. <</SYS>> Condo Purchase - Tax Strategies [US] [/INST] If it's a rental, you will write off the losses via Schedule E. You should read this document and its instructions to un...
<s>[INST] <<SYS>> Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering <</SYS>> Condo Purchase - Tax Strategies [US] [/INST] You will need to see a tax expert. Your edited question includes the line For the short term, we will be "rent...
<s>[INST] <<SYS>> Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. <</SYS>> Will depositing $10k+ checks each month raise red flags with the IRS? [/INST] You're getting confused between several different things. 10K - cash tran...
<s>[INST] <<SYS>> Share your insights or perspective on the financial matter presented in the input. <</SYS>> Will depositing $10k+ checks each month raise red flags with the IRS? [/INST] Contractors regularly deposit checks like this; if the income is legitimate don't worry. Report it to the IRS as income whether or ...
<s>[INST] <<SYS>> Offer your thoughts or opinion on the input financial query or topic using your financial background. <</SYS>> Will depositing $10k+ checks each month raise red flags with the IRS? [/INST] I do not think banks have an obligation to report any deposits to the IRS, however, they probably have an obliga...