query_id stringlengths 32 32 | query stringlengths 9 5.38k | positive_passages listlengths 1 23 | negative_passages listlengths 9 100 | subset stringclasses 6
values |
|---|---|---|---|---|
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 |
2ce6ca9228eaf766ec5cc9302e7bf830 | Is Mint allowed to share user data with other Intuit entities? | [
{
"docid": "140834c0d9da7e19ef949c4216188ff5",
"text": "I wound up asking Mint over email so I'll share the answer I received: Thank you for contacting Mint.com. From my understand you want to know if Mint can transfer data to other Intuit products and vice versa. Let me address your concern based from ... | [
{
"docid": "81a0892a695ba40344a68db23cb8c3a6",
"text": "moneydashboard.com claims to be the UK's Mint but I have problem using it with my HSBC account right now. I have contacted their helpdesk.",
"title": ""
},
{
"docid": "5078f8744206d6ac8df41cff1f094f4e",
"text": "\"Otto, I totally agree... | fiqa |
10cfce2bb7c328ec143b870691d84fbf | Financially Shielded Entity Separating Individuals Behind It From Risks | [
{
"docid": "92c0079346d0ded3ed163d22572d3b90",
"text": "You are describing a corporation. You can set up a corporation to perform business, but if you were using the money for any personal reasons the courts could Pierce the corporate veil and hold you personally liable. Also, setting up a corporation for... | [
{
"docid": "7140611637ffc227408550e614481205",
"text": "As far as I understand, equifax collects data about individuals and scores their credit worthiness. The ceo did Jack shit about keeping all that private data safe, so they got hacked and all that data is now in someone else's hands. The possible implic... | fiqa |
dde3f08333a831527db686f33d7cb940 | Forgot to renew Fictitious Name application within the county. What is the penalty for late filing? | [
{
"docid": "6ef9a41ae9c48fc552d8ff06b44d2360",
"text": "I checked this myself and there is no monetary penalty for late filing. However, since I am late I have to do all publication over again which costs me extra $50.",
"title": ""
}
] | [
{
"docid": "071f7252ad58078526431800146394df",
"text": "\"When you say \"\"set aside,\"\" you mean you saved to pay the tax due in April? That's underpaying. It's a rare exception the IRS makes for this penalty, hopefully it wasn't too large, and you now know how much to withhold through payroll deductions.... | 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 |
bbbb4310c748381b11dc0e93798ba588 | Process for dissolving a recently-opened Colorado LLC? | [
{
"docid": "bca4fd8eebb48bd815866fbf47824e7e",
"text": "Forms for the Colorado LLCs are online. You can find the link to the dissolution form here, and instructions here. IRS instructions are here. That's what they want: To close your business account, send us a letter that includes the complete legal nam... | [
{
"docid": "6ef75666739cf6561ccfe0c9579f9562",
"text": "Yes, you can do this. I do this for my own single-member LLC, but I usually do it online instead of writing a check. Your only legal obligation is to pay quarterly estimated tax payments to the IRS. I'm assuming you are not otherwise doing anything sh... | 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 |
2001cb770b479d2f3627931b4bd5d3d9 | What type of insurance would protect you against the Amazon 1p bug? | [
{
"docid": "9a4e7fc0bf4e90711a42264e05be3146",
"text": "I believe the appropriate recourse in this scenario is to bring a court case for breach of contract. The 1p repricing issue has been admitted as an error out of scope of the purpose of the software.",
"title": ""
}
] | [
{
"docid": "ef551aae36a2701bbd7ffe1feb39d5e6",
"text": "\"i dont know how they would buy *term* policies though, i suppose there is an actuarial value to the policy (ie. you might die during the policy term). A lot of these polices are \"\"10 year term\"\" or something like that, so the actuarial value mig... | 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 |
5ebf4325f5c095bf977115c57a7d1c07 | Why are U.S. credit unions not open to everyone? | [
{
"docid": "804d74d4c77d11d2c304b590073b6ea6",
"text": "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.... | [
{
"docid": "541401c6f2ad9acc4ce8a6c50c729c65",
"text": "I've been with my credit union for 8 years now and I love it! I also don't deal with any of the problems you are talking about. I don't pay fees at any atm, at least not ultimately. If an atm charges me a fee then it's refunded to me at the end of the ... | fiqa |
95426a7c616600c8c036ac5dd6c00e1e | Car expense deductions with multiple work locations | [
{
"docid": "bff69f709bf2f7bdb5f225d3e2e59824",
"text": "\"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 no... | [
{
"docid": "4e41f2d5ccac706564bf5b0af4e17ff6",
"text": "Unless you own a business and the car is used in that business you can't write off your auto repairs. If you start a sole-proprietorship in your own name there are all sorts of things you can write off as long as there is a reasonable expectation of pr... | fiqa |
99ff6b6841998607e70e530bc5db9773 | Formation of S-Corp for Gambling Trade | [
{
"docid": "309cd40201a9e3c287a8d91edaa4ef11",
"text": "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 applica... | [
{
"docid": "7fee72ff8cbd860eabd543e5335011fb",
"text": "GD Singapore has practically every kind of live casino club, Singapore Online casino slot, betting diversions in the market like opening amusements, 4D, dice recreations, rooster battling, poker, baccarat, and continuous live gambling club else you na... | 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 |
d26d41f3163c4f501fb7fd7061d4abd8 | Differences in taxes paid for W2 employee vs. 1099 contractor working on sites like ODesk.com? | [
{
"docid": "0a788c0d227d60e290dc71775c247243",
"text": "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 t... | [
{
"docid": "a3536cc618e291ed7fa8cd499d035587",
"text": "I'm not sure why you're confusing the two unrelated things. 1040ES is your estimated tax payments. 941 is your corporation's payroll tax report. They have nothing to do with each other. You being the corporation's employee is accidental, and can only h... | 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 |
189eea3747ed3f04e3ab018e3ff786a8 | When should I start an LLC for my side work? | [
{
"docid": "59c7fd30c8303ec146bf06020749ffcb",
"text": "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 ... | [
{
"docid": "b2635248cd6f4a5ad54e321d27fcb3d6",
"text": "\"Basically, yes. Don't use your business account for personal spending because it may invalidate your limited liability protection. Transfer a chunk of money to your personal account, write it down in your books as \"\"distribution\"\" (or something s... | 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 |
cff0c34d949d0893eda0e75abdccc3ce | What is network marketing? | [
{
"docid": "fb3a3205e06594a75de89afa5d37a8e8",
"text": "\"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... | [
{
"docid": "1dbc96b0f6e218edcbb70e4a349ba79a",
"text": "\"hi OP -- first, MLM means \"\"multi level marketing\"\" not Mid Level Management. for a great description of multi level marketing, check out the Herbalife documentary \"\"Betting On Zero\"\" on Netflix second, any group that goes on and on about ... | fiqa |
3788c86bcbbef86ad5fbfd79abc611eb | Can I claim mileage for traveling to a contract position? | [
{
"docid": "039519230ab375aea3fdd45fc09a3a49",
"text": "\"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... | [
{
"docid": "7f8fdfaf770de8745e3b0fcaa705afcc",
"text": "\"This arrangement is a scam to get around certain tax and benefits laws, both State and Federal. I know they can't get away with this with a person-as-contractor, but this \"\"he's not a contractor, he's a business owner\"\" may move it into a gray ar... | 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 |
cf30eed4fbb5ae872d0f9e42efc3ca1b | Excessive Credit Check from Comcast | [
{
"docid": "7eb27e7e8dc2b2ddba0a88de6872d1c1",
"text": "\"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 im... | [
{
"docid": "0088551e56693f9713c06610f68b44f1",
"text": "You can't make your bank do a charge back. This function is to assist with straight up fraud, not a customer service mistake. (Think spoofed or stolen card or if a vendor intentionally acted fraudulently.) While you may believe what they did is fraud, ... | 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 |
adfbb7086c70e740f67f52084addca15 | why if change manufacturing of a product not change the price for the buyer? | [
{
"docid": "9d9f02719dc4bd5d2fe38df5e59c278b",
"text": "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... | [
{
"docid": "52bbfff40cb3c26c0cb6c4697dcbec40",
"text": "The public was sold the idea that losing manufacturing didn't matter. They were told not only do you get cheaper products. But you will get new cleaner service, and tech jobs that pay the same or better! People bought into it but 30 years later Ross Pe... | 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 |
d898ef618a6ae1248a6b7c9253556c21 | Form 1042-S for foreign resident and owner of trade account | [
{
"docid": "ffe42a6e748797d0223dd014d46a1239",
"text": "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 no... | [
{
"docid": "35c5605589b6b4dbdea21675a10af603",
"text": "There might be a problem. Some reporting paperwork will have to be done for the IRS, obviously, but technically it will be business income zeroed out by business expense. Withholding requirements will shift to your friend, which is a mess. Talk to a li... | fiqa |
104735f0dba43d7f7093b0135f5edfb2 | Under specific conditions can I write off Spotify or other streaming audio services? | [
{
"docid": "59cf5c5066f75a5e4bececa297f762ea",
"text": "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.",
... | [
{
"docid": "11e8951f9d52f4e20ebbc8e5edc325be",
"text": "get into the 21st century. there are millions of artists willing to make videos, music, and other forms of entertainment for FREE. the music and hollywood industry are NOT entitled to profits. they lose money because of bad business models that don't e... | 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 |
e07168a63a0e514ec2dabef9cf65c6db | Are companies in California obliged to provide invoices? | [
{
"docid": "769c576c16662129867297ce0d808f29",
"text": "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 ... | [
{
"docid": "5bf683f73eaca9db5871c953efed4ff7",
"text": "\"This is an answer grounded in reality, not advice. Most states have no means of enforcing their foreign business entity registration statutes. Some states never even codified consequences. (California is a notable exception.). Some states have 'busin... | 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 $75k (sing... | [
{
"docid": "b293a75aa6a5ccb721f4fe72a5f50768",
"text": "The W4 specifies withholding for income taxes, FICA taxes are not impacted. The tax withholding is do that you do not need to make estimated tax payments. Failing to make sufficient quarterly estimated tax payments or withholding a sufficient amount co... | fiqa |
957309f94dd06b3322788d6cfc122175 | Does being involved in the management of a corporation make me ineligible for a workshare program? | [
{
"docid": "85f1ee03b67a2df86e96dbcec51a9f21",
"text": "\"Assuming you are paying into and eligible to collect regular Employment Insurance benefits for the job in question, I don't see how owning a side business would, by itself, affect your ability to participate in the workshare program. Many people own... | [
{
"docid": "bed338db9cdf1dd0f3be10e06e8adaf3",
"text": "\"Yes, this is restricted by law. In plain language, you can find it on the IRS website (under the heading \"\"When Can a Retirement Plan Distribute Benefits?\"\"): 401(k), profit-sharing, and stock bonus plans Employee elective deferrals (and earning... | fiqa |
d8c96b37f076a20d17bc3a40eb6e6104 | Do I only have to pay income tax on capital gains? | [
{
"docid": "68a5a4c899a2e109399eecca707bedb5",
"text": "On the revenue only. This amount of 10$ 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 |
60528c2a782642ffb8dd69ead2596fe8 | how to show income from paypal as export income | [
{
"docid": "176f3eda4ae7d7cc516c80053e3742c3",
"text": "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 a... | [
{
"docid": "000a4e01345164ec5682c16d5afc672b",
"text": "The best thing for you to do will be to start using the Cash Flow report instead of the Income and Expense report. Go to Reports -> Income and Expense -> Cash Flow Once the report is open, open the edit window and open the Accounts tab. There, choose ... | fiqa |
a0dd55bc63ae6bd512b3dbd7c70f6b10 | Renting out rooms in my home, what's the proper way to deal with utilities for tax purposes? | [
{
"docid": "126fd13c67264c54eded0b947f3c655d",
"text": "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 ... | [
{
"docid": "7b73465541b505fd29eecafb445ece16",
"text": "The money your tenants spent on repairs and maintenance that is otherwise your responsibility is considered rent paid to you (and deductible to the extent you can deduct maintenance expenses, provided you have documentation etc etc). The money your ten... | fiqa |
98e3ce48813577c3773c7b033c1d6c6b | How do I treat the income from an ESPP I sold now that I am a non-resident alien? | [
{
"docid": "abd138c01e6d5a971c99c8f92350dfec",
"text": "\"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... | [
{
"docid": "7d5505b6c56edc9dc1592bdd431592f7",
"text": "You can keep your Mutual Funds. You have to communicate your new status to fund house. The SIP can continue. Please note you have to convert the savings account to NRO account. Most banks would keep the account number same, else you have to revise SIP... | fiqa |
8b43fdc1454d52b08503eca6b00457bf | Should I keep copies of my business's invoices for tax records? | [
{
"docid": "5343a55d9de262de93da6ee1e7ee768a",
"text": "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:... | [
{
"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 |
348ec50425e894d769873c9afd7ef51d | Ways to invest my saved money in Germany in a halal way? | [
{
"docid": "39a433a84ddadd612b78e80c78d4808f",
"text": "\"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 cou... | [
{
"docid": "fb7489191787be6458bb24d48707cb7c",
"text": "You are not limited in these 3 choices. You can also invest in ETFs, which are similar to mutual funds, but traded like stocks. Usually (at least in Canada), MERs for ETFs are smaller than for mutual funds.",
"title": ""
},
{
"docid": "2fc1... | fiqa |
743e4a39d4c3a52c73bf45654200d896 | 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? | [
{
"docid": "29cfc7f33519a8138a57a090f51a686a",
"text": "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 ac... | [
{
"docid": "6930ffd3459df51d2e594465b3b8a9f1",
"text": "There's nothing wrong with your reasoning except that you expect the tax laws to make perfect sense. More often than not they don't. I suggest getting in touch with a professional tax preparer (preferably with a CPA or EA designation), who will be able... | fiqa |
396fe12892460c5e4a85d7aef5b17e68 | Tax planning for Indian TDS on international payments | [
{
"docid": "b0e89d948d1a3eeeb4332ed2e5712a2a",
"text": "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... | [
{
"docid": "5b4ff9f4f9ce7b7f9ab09a70362e4047",
"text": "This is something better asking a licensed professional (EA/CPA licensed in the US) who's also familiar with your home country tax law and the tax treaty your home country has with the US. Assuming no tax treaty and adverse tax consequences at home, yo... | fiqa |
b09b724b8280c7cc82643b818560ceb5 | Can I deduct my individual Health Insurance Premium in Tax | [
{
"docid": "7aeccd8d70a17e60f0e13c3bd7c0bad7",
"text": "\"Yes, you can. See the instructions for line 29 of form 1040. Self employed health insurance premiums are an \"\"above the line\"\" deduction.\"",
"title": ""
}
] | [
{
"docid": "b09b1f94fb03bd10155b889cd8f16b08",
"text": "\"To claim medical expenses on your taxes they need to exceed 7.5% of your AGI, and then only the amount over 7.5% is deductible. That's not much. There is no \"\"floor\"\" if you use an FSA as it's all pre-tax. If you're concerned about use or lose,... | fiqa |
9d371e8ec8b3d743fe3b0b30415a5093 | Tax deductions on car and/or home? | [
{
"docid": "6d8fae7ab371dc25faf4139cdf4ce360",
"text": "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... | [
{
"docid": "3a24e8c7fb56eacce57030b2d4d34c3c",
"text": "For stocks, bonds, ETF funds and so on - Taxed only on realised gain and losses are deductible from the gain and not from company's income. Corporate tax is calculated only after all expenses have been deducted. Not the other way around. Real estate ex... | fiqa |
63f2c8cab98f8f2792e25c3292582b9c | Are banks really making less profit when interest rates are low? | [
{
"docid": "5d7cffc6473a5e945a5e089e0fb84d00",
"text": "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 lo... | [
{
"docid": "1279c20458071181639872766799d542",
"text": "What you say about monetary velocity is true, but I don't think its the whole story. Banks also create money by lending out their deposits: if I put $1000 in my account, and the bank lends out $500 of it, I still have my $1000 on deposit but someone el... | fiqa |
f10bef35cdbb45464ab3d484a958f8de | Why would a company care about the price of its own shares in the stock market? | [
{
"docid": "31440fe1300072d02dfd346fb49498a3",
"text": "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 d... | [
{
"docid": "b162c03324b8020cb7acdc8e7c8b3d0f",
"text": "\"Stock returns cannot be evaluated on its own. You need to take into account inflation and the return of other investment vehicles. Over the long run, you want to earn more than your peers (ie inflation), or lose less than them. Stock lets you buy int... | fiqa |
31bb8f803a58b675bcf71cd366ab13ee | Deducting SEP-IRA contributions as a sole proprietor with no employees | [
{
"docid": "0331298d68cdeab22181894e8f9a3622",
"text": "SEP IRA deduction goes to line 28 of your 1040, which is above the line (i.e.: pre-AGI). It should not be included in your taxable income (AGI) for Federal purposes.",
"title": ""
}
] | [
{
"docid": "24c4ccec7c561cd627638fa08b200dcf",
"text": "You can contribute to both but the total contribution is capped: More than one plan. If you contribute to a defined contribution plan (defined in chapter 4), annual additions to an account are limited to the lesser of $53,000 or 100% of the parti... | fiqa |
08533ecbc973391914e92a6aed9eeedb | How can Schwab afford to refund all my ATM fees? | [
{
"docid": "bc875b9c0d3f029ba3a99bb6c6a2d0be",
"text": "I am using my debit card regularly: in ATM's with a pin, in stores with my signature, and online. But later you say But from what I recall from starting my own business (a LONG time ago), for debit cards there's only a per-transaction fee of like $0.2... | [
{
"docid": "5ede24800b5d80033c81f06e9d0f3a38",
"text": "When you submit for reimbursement, the cash you get should be FIFO (first in, first out) and a large bill should empty out 2011 first, automatically tapping 12 for remaining amount owed. I doubt you need to do anything.",
"title": ""
},
{
"... | fiqa |
46bce6a99498d109180613cce3f31321 | How much accounting knowledge is needed to read financial statements of publicly traded companies? | [
{
"docid": "d4000cf9ecd349abeeb5bc37ecd296aa",
"text": "\"I'm a senior majoring in accounting and management information systems. Here is a question I answered a while back about financial statements and employee retention. In the answer that I provided at the bottom it was to assess a company's ability to ... | [
{
"docid": "84684ca8001220b80db21a461e7b2e21",
"text": "You won't be able to know the trading activity in a timely, actionable method in most cases. The exception is if the investor (individual, fund, holding company, non-profit foundation, etc) is a large shareholder of a specific company and therefore req... | fiqa |
25a656f40844ff6cd10c946848df0259 | US Self-Employment Tax: Do expenses stack with the 50% SE deduction? | [
{
"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": "1c01283ab709a39fc1d09315caffed24",
"text": "The money from the employer is counted as income for you, and should be included in the numbers on your W-2. You also have tuition you paid. That is an educational expense. That would generally be a tax credit if you qualify for those educational tax ... | fiqa |
a47b2c7d4c6ec66f1326c95434f1e272 | I am under 18 years old, in the US, my parents have terrible credit, how can I take out a loan? | [
{
"docid": "1c0b26d263cfa5db63d98c2b6fdab3c0",
"text": "Depending on the state this might not be possible. Loans are considered contracts, and various states regulate how minors may enter into them. For example, in the state of Oregon, a minor may NOT enter into a contract without their parent being on the ... | [
{
"docid": "e8551dc1d527827ddf6696afe51c141f",
"text": "You need a cosigner. Someone prepared to repay the mortgager if you should fail to. Needless to say this is going to have to be someone who knows you and trusts you very much. One way is to find someone prepared to share a house with you. Buy a bigger ... | fiqa |
10de8274aa921e88acf8a7a713610395 | UK limited company and personal bank account | [
{
"docid": "281ead90b48ee598552183e72ee93263",
"text": "I don't think there is a legal requirement that you need a separate bank account. Just remember that you can only take money from your LLC as salary (paying tax), as dividend (paying tax), or as a loan (which you need to repay, including and especially... | [
{
"docid": "fcea0195c525dd15d0979228c8159f02",
"text": "Use a limited company. Use the HMRC website for help on limited companies and get a good accountant for doing your taxes. Mixing your website income and personal income may make you pay a higher tax rate. You can take out expenses from the limited com... | fiqa |
537e132a674ca670a229c10e4aa93979 | Does receiving a 1099-MISC require one to file a tax return even if he normally would not be required to file? | [
{
"docid": "f32d820d97c3f202be1a3c1a88a1820b",
"text": "\"Does he need to file a tax return in this situation? Will the IRS be concerned that he did not file even if he received a 1099? No. However, if you don't file the IRS may come back asking why, or \"\"make up\"\" a return for you assuming that the who... | [
{
"docid": "57fbee9831e6442f6cf8d4f9f3c712b6",
"text": "I can't find specific information for Form 1099-DIV for this tax year. However, I found this quote for next tax season that talks about Form 1099-B: Due date for certain statements sent to recipients. The due date for furnishing statements to recipi... | fiqa |
e08068d215aed8e383996b23eed87f1c | US taxes and refunding/returning payment | [
{
"docid": "a99219ec5f173dad91f95b2103fdc1f1",
"text": "Get the worker put it in writing, and deduct it in December under constructive receipt rules. The fact that you're getting the actual cash in January isn't significant as long as you've secured the payment. Verify this with a tax adviser, but that's wh... | [
{
"docid": "c4f1e4c220a509fa2efa7fcb2010e100",
"text": "If you get 1099-G for state tax refund, you need to declare it as income only if you took deduction on state taxes in the prior year. I.e.: if you took standard deductions - you don't need to declare the refund as income. If you did itemize, you have t... | fiqa |
22e8d75e8f09e49a043377b5d85d4bb5 | Are there any issues with registering an LLC in a foreign state? | [
{
"docid": "21f92446dfd048a11ba3713e97294bf3",
"text": "\"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 to get in contact with you). The \"\"agent\"\" will notify you about taxes and any mail you get, but besi... | [
{
"docid": "0cc9f29299b97f983d66979dc8a38088",
"text": "Are you talking about domicile? An LLC is treated differently than a corporation in the terms of citizenship of the law. An LLC is a citizen of whichever state it's members (shareholders) are citizens. I would recommend you just spend the money on a b... | fiqa |
840798a92d15f94f6f8c4b07a3a9d7ef | What are the tax consequences if my S corporation earns money in a foreign country? | [
{
"docid": "e9b1750861a184a70777dda66fa97951",
"text": "\"Be careful here: If ACME were in California, I would pay taxes on USD 17,000 because I had revenue of 20,000 and expenses of 3,000. To CALIFORNIA. And California taxes S-Corps. And, in addition, you'd pay $800 for the right of doing business in the... | [
{
"docid": "50096e4fb5fbc967e77618ddb3453157",
"text": "Oh I see - then yes I agree with you. Even if it was a foreign company in that situation, they should pay taxes. But in regards to the concept of repatriated profits, that has to do with profits generated outside of the borders...",
"title": ""
... | fiqa |
144fca9d0a4308b4a411c1aa6b609720 | Can limits be placed by a merchant on which currency notes are accepted as legal tender? [duplicate] | [
{
"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... | [
{
"docid": "f5fed5ce25d2b920202d4dbf2427e6f1",
"text": "This article is very short on details. How much Bitcoin did he buy? If he spent $10k or more the bank is LEGALLY REQUIRED to ask why he is buying it, just as they would be if he was withdrawing the cash. What's more, the threshold can be far lower tha... | fiqa |
af61b1410a5ae63d4b31bb8cdd437738 | Do I need to pay taxes in India? | [
{
"docid": "ce5a9711abf6e3faffd048d87194ae7e",
"text": "\"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 Global income. It is not relevant whether you transfer the money back to India... | [
{
"docid": "fa74f9772e688a7311fdd7a91a3b9504",
"text": "Are there any IRS regulations I should be aware of when sending money to India? None. As long as you are following the standard banking channels. You are also declaring all the accounts held outside US in your tax returns. FBAR. Is it legal to do so? ... | fiqa |
1d6946bb73e8d56025df18515c0ce02b | Capital gains tax when I sell my home if I use a portion of it for an AirBnB | [
{
"docid": "5a1293a666b8079d199978def4663f03",
"text": "Getting the first year right for any rental property is key. It is even more complex when you rent a room, or rent via a service like AirBnB. Get professional tax advice. For you the IRS rules are covered in Tax Topic 415 Renting Residential and Vacati... | [
{
"docid": "41dd51abeb0546afc075005553f9f663",
"text": "> The paper, which is yet to be published, found that a 10 percent increase in Airbnb listings can create an average 0.39 percent increase in rents and an average 0.64 percent increase in home prices, the Wall Street Journal reported. In the long t... | fiqa |
e48e0003897a286da9f44c3c6f8d863c | Will depositing $10k+ checks each month raise red flags with the IRS? | [
{
"docid": "c49d5af94426242bfb08789473fcbffe",
"text": "You're getting confused between several different things. 10K - cash transactions over $10,000 are reported to FinCEN under BSA. This is to prevent money laundering. IRS - IRS wants to see your tax return with all your income reported there. They don't... | [
{
"docid": "3d7833f48df0b9d829546e90aeb990ef",
"text": "\"I have a related issue, since I have some income which is large enough to matter and hard to predict. Start with a best guess. Check what tax bracket you were in last year and withhold that percentage of the expected non-withheld income. Adjust upwar... | fiqa |
c8a48d67459374ca31d4d0f81f760539 | Is issuer's bank allowed to charge fee when cashing check? | [
{
"docid": "ea18b2178b61681cabef1170f46629e9",
"text": "Some banks charge their own customers if they make use of a teller. That is what you are doing. You are going to a bank where you are not a customer and requesting a transaction that requires a teller. If you cash the check by going though your bank, t... | [
{
"docid": "e138d48bd150ef9c9d160460027a7c44",
"text": "Because your friend isn't going to like the ~2% charge they have to pay to the credit card company on the $10,000 purchase. Credit card companies make money off of transactions. The cardholder normally doesn't pay any transaction fees (and in fact can ... | fiqa |
0f13821bd669fd1b43f019d398cc30a2 | How to invest 10k dollars, at the age of 23? | [
{
"docid": "b950b079cd48b8d52ec91b298421e469",
"text": "\"An investment in knowledge always pays the best interest, as Ben Franklin said. However, this is not a question I can answer for you, as it depends on the opportunities that are specifically available to you as an individual. Sometimes opportunities ... | [
{
"docid": "f7058c5586ad44d8fd12dd70c1f65ccc",
"text": "Now a days, your stocks can be seen virtually through a brokerage account. Back in the days, a stock certificate was the only way to authenticate stock ownership. You can still request them though from the corporation you have shares in or your brokera... | fiqa |
a2e2a9d42db5bdd90590552e51c16ecc | Investment time horizon: When is it acceptable to withdraw money from investments? | [
{
"docid": "16741273c6cb8b6491a181cee2385490",
"text": "\"shouldn't withdraw stock investments for at least 5 years would be better re-phrased as: \"\"don't invest money in stocks if you (really) need it within next few years\"\". The underlying principle is: stocks are one of the higher-risk investment cla... | [
{
"docid": "c4ec080f48901e5d1591782ca087bcba",
"text": "The Trinity study looked at 'safe' withdrawal rates from retirement portfolios. They found it was safe to withdraw 4% of a portfolio consisting of stocks and bonds. I cannot immediately find exactly what specific investment allocations they used, but n... | fiqa |
72ad3f070d80757d5ce9d9ff331d9d03 | Tax rules for United States citizens living in the US but being paid from outside the US | [
{
"docid": "cf1c0c8f4ce07239858da167fbbcade1",
"text": "You can and are supposed to report self-employment income on Schedule C (or C-EZ if eligible, which a programmer likely is) even when the payer isn't required to give you 1099-MISC (or 1099-K for a payment network now). From there, after deducting perm... | [
{
"docid": "708b0a0701ed4c6db8ded6937a20599b",
"text": "\"There's no \"\"183 days\"\" rule. As a US citizen you must pay taxes on all your income, where you live is irrelevant.\"",
"title": ""
},
{
"docid": "24dc4877cb805249a4eae606cff85213",
"text": "\"Yes. You do have to pay taxes in the U... | fiqa |
c0956961469aaf5e3b85c0f78f9b2b23 | Estimated Taxes after surge in income | [
{
"docid": "5923619c7a3b18fc6934a3f2d6b95dc8",
"text": "You will not necessarily incur a penalty. You can potentially use the Annualized Income Installment method, which allows you to compute the tax due for each quarter based on income actually earned up to that point in the year. See Publication 505, in... | [
{
"docid": "311f83af312064c4e084dd5e1a1ab6d7",
"text": "\"You are not interpreting the table correctly. The $20K \"\"base rate\"\" that you think should have been eliminated is in fact the total tax for the whole bracket. You only dipped partially into the bracket, and the $3K reduction accounts for that. L... | fiqa |
34569089de8c9b90149739b72f858e0e | How to reconcile a credit card that has an ongoing billing dispute? | [
{
"docid": "9798257382abe1279226130c288f7543",
"text": "You could make an entry for the disputed charge as if you were going to lose the dispute, and a second entry that reverses the charge as if you were going to win the dispute. You could then reconcile the account by including the first charge in the re... | [
{
"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... | fiqa |
af1b534c00c05c33244038cc8fac4079 | Income tax on international income with money not deposited in India | [
{
"docid": "47314782ea3b3385bd6b88e24f627530",
"text": "If the work is done in India, then the income arising out of it, is taxable when received by you, and not when it come into India ...",
"title": ""
},
{
"docid": "f0275cc6538a48f5f5155920d19db0f9",
"text": "Three points for you to keep ... | [
{
"docid": "ce5a9711abf6e3faffd048d87194ae7e",
"text": "\"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 Global income. It is not relevant whether you transfer the money back to India... | fiqa |
97813ccc471462f594ae8246a1f2bc84 | How to represent “out of pocket” purchases in general ledger journal entry? | [
{
"docid": "1b4e473675196ea73e28c4a46e3d696f",
"text": "You're lending the money to your business by paying for it directly. The company accounts must reflect a credit (the amount you lend to it) and a debit (what it then puts that loan towards). It's fairly normal for a small(ish) owner-driven company t... | [
{
"docid": "6d0884103408e571b9a1cd40123973b7",
"text": "\"There is no \"\"standard\"\" way for personal accounting. However, GNUCash default accounts set includes \"\"Expense: Adjustment\"\". It is usually used by the community for reconciliation of unknown small money lost.\"",
"title": ""
},
{
... | fiqa |
e2829bf59e8db785fa1023ac212b8f3f | Can this check still be honored? [duplicate] | [
{
"docid": "8c860ddc8f02abafffb7d625bb5c4d3e",
"text": "You could talk to them, but (assuming you're in the U.S.), it's highly doubtful any bank would honor a check from 26 years ago. Most checks in the U.S. are only valid for 180 days, mainly to help companies and banks keep accounting simple. I would sug... | [
{
"docid": "af46855a091ee52405c711ca88a06b3f",
"text": "\"I would contact the security/fraud departments at your bank and see if you can get in contact (via your bank) with the bank that the check is drawn on. By my reading of your question, it sounds like the person you are dealing with fraudulently endors... | fiqa |
6bf773f2bd92232f6d3b8a132629f9e0 | What does the phrase “To make your first million” mean? | [
{
"docid": "353f69910c12dc261482d6363c090c09",
"text": "\"I'd interpret it as \"\"Net Worth\"\" reached 1M where \"\"net worth\"\" = assets - liabilities.\"",
"title": ""
},
{
"docid": "b578b95c650670c315a872e8e4e4fe71",
"text": "I've not heard it used in any way other than one's net worth r... | [
{
"docid": "e0e5f5aca6fddbf5b3a1fdc36ebf444f",
"text": "As an advertising slogan, it generally implies saving monthly into an investment account. If you do pay yourself first, basically making saving/investing part of your budget, the intent is that you won't get to the end of the month with nothing left to... | fiqa |
e790e491c249aa052896bd3892df5a8e | Is it ok to use a check without a pre-printed check number? | [
{
"docid": "4547ba8882ca5083e07856480f94e0ec",
"text": "For the clearing house, only the routing number and the check amount [which gets encoded before its presented to clearing] is important. The check numbers were put in as a fraud prevention mechanism to ensure that one check was only presented once and ... | [
{
"docid": "1539d63a7428b2820667f161daba9011",
"text": "While it is possible to have pre-printed checks with a limit on them, I'd be worried about two things: That limit somehow getting ignored by the banks and the resulting hassle on your part. Anyone unscrupulous could try to talk dad into simply writing ... | fiqa |
5b9eb376172bade48f2adcbc09f1fb49 | Why would selling off some stores improve a company's value? | [
{
"docid": "3827477ba1172db0d3329c2b2add73d8",
"text": "Two different takes on an answer; the net-loss concept you mentioned and a core-business concept. If a store is actually a net-loss, and anybody is willing to buy it, it may well make sense to sell it. Depending on your capital value invested, and how... | [
{
"docid": "2a5024d5665ea91912abe62458c537b5",
"text": "Operationally they wouldn't be too bad off if not for their debt. With declining sales and powerful competitors, they lack the cash flow to both compete and pay off their debt as it matures and while they've been able to refinance so far the doom and g... | fiqa |
0f9d5b922687072b918aadc174e46e54 | How important is reconciling accounts for a small LLC (Quickbooks)? | [
{
"docid": "b9310f8df731e3ba1a7449b6c4d807dd",
"text": "I would suggest opening a new account (credit card and bank) for just your business. This protects you in multiple ways, but is no bigger burden for you other than carrying another card in your wallet. Then QB can download the transactions from your w... | [
{
"docid": "e7ecc10268766997672000064e46af68",
"text": "\"Not knowing anything about your situation or what makes it so complex, I would have to agree with the other commenters. If your accountant screws up your business goes under, but at least your personal finances are safe from that and you'll recover ... | fiqa |
ac9d5d613f01b460ecfee631ec20fb85 | Get the maximum interest rate from a bank on short term holdings | [
{
"docid": "7a6a4159b4a5646b119898c10dd61bf2",
"text": "You can open Savings Bank Account with some Banks that offer better interest rate. Note there would be restriction on number of withdrawals in quarter. There are better interest rates if you lock in for 90+ days. The other option to explore is to open ... | [
{
"docid": "7b2b5680166af921079718e37b719cb9",
"text": "Just to offer another alternative, consider Certificates of Deposit (CDs) at an FDIC insured bank or credit union for small or short-term investments. If you don't need access to the money, as stated, and are not willing to take much risk, you could pu... | fiqa |
55eab58a3459fbdecc2f39d75f99a7ac | How do I get bill collectors who call about people I know to stop calling me? | [
{
"docid": "6a80d084921f3ee86d7bbdf4f607936c",
"text": "http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre27.pdf if you are in the US Look at section 805 and 805 about how they may contact you and what they are and aren't allowed to do. You can simply send a Certified Mail, Return Receipt (CMRR) letter exp... | [
{
"docid": "a8edad472ccf151ee0ee506b18eda838",
"text": "Step 1)I answer the phone saying it is illegal to call my cell phone and I want all further communications in writing. Put this number on the do not call list and reverse search the number they dialed. Step 2) I say that whoever changed their number an... | fiqa |
1402d60ef7d114c5c5e6a3c04e87e4a1 | What are the implications of lending money to my sole member S-corp? | [
{
"docid": "c7ccfc0ee74c3d60626c894c2cdc1452",
"text": "You can make a capital contribution, not a loan. It's not a taxable event, no interest, and you can take a distribution later when the business has the money to pay you back. So yes, transfer the money. If you use software like Quickbooks, make use of ... | [
{
"docid": "ecb00e05bf09c78b463c0b7c134741d3",
"text": "\"It should be pretty obvious that without knowing what sort of assets the company owns, and what sort of net earnings are being generated it's impossible to say what a $20k equity investment should get you in terms of ownership percentage. With that... | fiqa |
ca6136501c981f594133d742fd605857 | Are you allowed to have both a 401(k) and a SIMPLE IRA? If so, what about limits? | [
{
"docid": "debd7edd8c0c59de27b0c871a9f2d739",
"text": "\"I am not 100% sure, but I think the answer is this: You can't max out both. You could theoretically max out the SIMPLE IRA ($11,500) and then contribute $4,000 to your 401k, but your total can't exceed the 401k limit of $16,500. This also means yo... | [
{
"docid": "adcaaa179270d076ea0768d8715a2b95",
"text": "A Roth IRA is just an account wrapper. Inside a Roth IRA you can have a plain 0.1% savings account, or a brokerage account, or an annuity or whatever. There's no rate of return for a Roth IRA. That particular calculator seems to assume you'll be wrap... | fiqa |
18d6578d2ee97e38e87b64784bcec583 | Foreign Earned Income Exclusion - Service vs. Product? | [
{
"docid": "d9a780decda5c8e8bb9f5fa69add811c",
"text": "\"Even though you will meet the physical presence test, you cannot claim the FEIE because your tax home will remain the US. From the IRS: Your tax home is the general area of your main place of business, employment, or post of duty, regardless of where... | [
{
"docid": "b4b404f2995ec98b70c55d6ce4413dc9",
"text": "The difference is whether or not you have a contract that stipulates the payment plan, interest, and late payment penalties. If you have one then the IRS treats the transaction as a load/loan servicing. If not the IRS sees the money transfer as a gift.... | fiqa |
be723a32e915f54561cd3a9eff09d1c6 | What is a good open source Windows finance software | [
{
"docid": "0a08c66465ff0e7a78383b8babf2b9cf",
"text": "Have you tried others on Wikipedia's list?",
"title": ""
},
{
"docid": "b2c2a2438b925a7ca203cf52bfabeaf3",
"text": "You really shouldn't be using class tracking to keep business and personal operations separate. I'm pretty sure the IRS ... | [
{
"docid": "ed961bc386f62746a9c09a3a9344c4f0",
"text": "Frankly, the article is mostly right, but I disagree with his specific recommendation. Why use one of these software services at all? Put your money into a retirement (or other) account and invest it in index funds. Beating index funds over the long... | fiqa |
75cbabef2d7b46e879e0909a08e53eb0 | How to find out if a company has purchased government (or other) bonds? | [
{
"docid": "60e096d50149b10d70b6d360eeb8e2f8",
"text": "This is in the balance sheet, but the info is not usually that detailed. It is safe to assume that at least some portion of the cash/cash equivalents will be in liquid bonds. You may find more specific details in the company SEC filings (annual reports... | [
{
"docid": "4ad78c252c10c6b6a1ea91d8e2332a20",
"text": "\"A company whose stock is available for sale to the public is called a publicly-held or publicly-traded company. A public company's stock is sold on a stock exchange, and anyone with money can buy shares through a stock broker. This contrasts with a ... | fiqa |
e27ff2c2b4a27333ef33cea60db4c93a | What should I be aware of when renting a home to a corporation instead of an individual? | [
{
"docid": "026e024f3cd4152250820734cc7b61c0",
"text": "This is business as usual, except that you need to keep in mind that the corporate entity is separate from the individual. As such - all the background checks and references should be with regards to the actual renter - the corporation. You should be c... | [
{
"docid": "bf1ba57006b76a4812f39d1644608ce8",
"text": "You need to first visit the website of whatever state you're looking to rent the property in and you're going to want to form the LLC in that particular state. Find the Department of Licensing link and inquire about forming a standard LLC to register a... | fiqa |
989a8a0f2e042eeed3c9c38dc6a6864a | Quickbooks custom field for computing a value | [
{
"docid": "7a6d1ce5a9f319a672629b90a457d4d3",
"text": "Custom fields are limited to non-calculated values. Read more here: http://qbblog.ccrsoftware.info/2008/07/custom-fields-in-quickbooks/ To do this you will need an add-on. I would reccomend CCRQInvoice, but only because its the only one I've tried a... | [
{
"docid": "0f8bff4246bf5e8c9e8ded7affa5caa8",
"text": "\"Gnucash is first and foremost just a general ledger system. It tracks money in accounts, and lets you make transactions to transfer money between the accounts, but it has no inherent concept of things like taxes. This gives you a large amount of flex... | fiqa |
0a685cc4724f54486ca5d2303a3517ff | Are individual allowed to use accrual based accounting for federal income tax? | [
{
"docid": "3971966a0f7a37feebc830ddfeaeca7c",
"text": "Yes. But once you chose the method (on your first tax return), you cannot change it without the IRS approval. Similarly the fiscal year. For individuals, I can't think of any reason why would accrual basis be better than cash, or why would an individua... | [
{
"docid": "f619287f122a1fed98a90cb002e70017",
"text": "\"According to this link http://taxes.lovetoknow.com/federal-income-tax/w9-tax-form: The very last line on the personal information section refers to \"\"account numbers.\"\" Here, the taxpayer lists any accounts they have with the IRS to pay back taxe... | fiqa |
2de840a462b93498d61e8f58b3f0a62c | If I take a loss when I sell my car, can I claim a capital loss deduction on my income tax return? | [
{
"docid": "bb5ad2a26e78ae916de76fa854300476",
"text": "\"While you'd need to pay tax if you realized a capital gain on the sale of your car, you generally can't deduct any loss arising from the sale of \"\"personal use property\"\". Cars are personal use property. Refer to Canada Revenue Agency – Personal-... | [
{
"docid": "306bbfcbeb9d36a4dfe629c06c6049d9",
"text": "\"A nondividend distribution is typically a return of capital; in other words, you're getting money back that you've contributed previously (and thus would have been taxed upon in previous years when those funds were first remunerated to you). Nondivid... | fiqa |
aaaceb475e365f5abbf4f95a4ea03151 | How to know if I can have NOL (U.S. tax)? | [
{
"docid": "6f8281bef2f328476ed16641d9dde791",
"text": "\"Individuals most definitely can have NOL. This is covered in the IRS publication 536. What is the difference between NOL and capital loss? NOL is Net Operating Loss. I.e.: a situation where your (allowable) expenses and deductions exceed your gross i... | [
{
"docid": "925928cbba365a3c9a5f6a9aab4fb112",
"text": "There are ways to avoid having federal income taxes withheld: In order to avoid withholding altogether, you’ll have to fall into both of the following categories: you have no tax liability this year and you had no tax liability in the previous tax... | fiqa |
9cc103ba94761e994536cc636b3af31b | What does “Income generated in the U.S.” mean? | [
{
"docid": "d80c18ea48134a0b736e4a9b6d587ae9",
"text": "It means you must pay federal (and possibly state) tax on any income you produce in America -- including Internet and mail-order sales. Tax treaties may keep you from having to pay tax on it again in your own country, or may not.",
"title": ""
}
... | [
{
"docid": "e8d5cf282efac11e79e96e042aacb9f1",
"text": "\"... until they collapse too!!! This is \"\"Luft Gesheft\"\": German/Yiddish for \"\"making money out of thin air\"\". Money should be made by making things and building things - adding value to something. Apple Computers is one example - they mak... | fiqa |
8d3aa92cb61c2a3e75ca0feb7360841a | Do the activities of my LLC need to be limited to a particular field? | [
{
"docid": "185c82fdde47f55d63850a476e4687c9",
"text": "No. When you file your Articles of Organization, simply state that your business will operate under the law. You don't need to give any further specification.",
"title": ""
}
] | [
{
"docid": "0659e8e19457737aa39ca2904088ade5",
"text": "Thank you for the pointers! Did you find it necessary to hire an attorney to set up your llc? Have you found any real down-sides with the llc option? It seems to be great in most circumstances from what I'm reading/hearing, there must be some negatives... | fiqa |
0961ce3f7006960f0d125c34b970221e | Deductible expenses paid with credit card: In which tax year would they fall? | [
{
"docid": "bcd38157a511bc50fe008087a8d2c7d3",
"text": "\"According to this discussion, there was a Tax Court ruling that likened deductibility for charitable giving by credit card to business expenses incurred by businesses operating under cash-basis accounting. (The point is made by Larry Hess on that si... | [
{
"docid": "1b4466c1672ecccd8c473e8503ff8b95",
"text": "\"According to the instructions for IRS Form 8889, Expenses incurred before you establish your HSA are not qualified medical expenses. If, under the last-month rule, you are considered to be an eligible individual for the entire year for determining t... | fiqa |
c6ffe18e843d7337cdf7bf853d13e6b7 | Transfering funds from India to the US | [
{
"docid": "6a4255273eee969a2c2fd7c5a4996127",
"text": "Can I transfer funds from India to USA which I have borrowed in India. Funds borrowed in India may not be transferred outside of India as per Foreign Exchange Management Act. Loans in rupees to non-residents against security of shares or immovable pr... | [
{
"docid": "a37ba433298a25962301a4c5df8a2d03",
"text": "You haven't indicated where the funds are held. They should ideally be held in NRO account. If you haven't, have this done ASAP. Once the funds are in NRO account, you can repatriate this outside of India subject to a limit of 1 million USD. A CA certi... | fiqa |
180759f44009f0ddec34c5fc8a2ce688 | Replacement for mint.com with a public API? | [
{
"docid": "ed5933a2199ba6a36f09083dbe0f44f4",
"text": "Check Buxfer here are the details about the API: http://www.buxfer.com/help.php?topic=API",
"title": ""
},
{
"docid": "05b062c3dbfae8603e25530ca2902b85",
"text": "Yodlee's Moneycenter is the system that powered Mint.com before Intuit bo... | [
{
"docid": "f162c873c93008892be6d4e5e9f6351f",
"text": "They have recently launched an iphone app 'Billguard' in UK which does accounts aggregation which is similiar to mint.com. You can also use try 'Ontrees' iphone app which is another account aggregation software. I am using Yodlee Money center Website f... | fiqa |
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