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vikrantkakade4071
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financial_dataset_for_llama2

input stringlengths 14 166	output stringlengths 3 17k	instruction stringclasses 5 values	text stringlengths 333 17.4k
What is considered a business expense on a business trip?	The IRS Guidance pertaining to the subject. In general the best I can say is your business expense may be deductible. But it depends on the circumstances and what it is you want to deduct. Travel Taxpayers who travel away from home on business may deduct related expenses, including the cost of reaching their destin...	Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited.	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: What is considered a business expense on a business trip? ### Input: Utilize your financial knowledge, give your answer or opin...
Claiming business expenses for a business with no income	Yes you can claim your business deductions if you are not making any income yet. But first you should decide what structure you want to have for your business. Either a Company structure or a Sole Trader or Partnership. Company Structure If you choose a Company Structure (which is more expensive to set up) you would cl...	Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: Claiming business expenses for a business with no income ### Input: Offer your insights or judgment on the input financial quer...
Transferring money from One business checking to another business checking	You should have separate files for each of the two businesses. The business that transfers money out should "write check" in its QB file. The business that receives money should "make deposit" in its QB file. (In QB you "write check" even when you make the payment by some other means like ACH.) Neither business shou...	Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open.	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: Transferring money from One business checking to another business checking ### Input: Based on your financial expertise, provid...
Having a separate bank account for business/investing, but not a “business account?”	Having a separate checking account for the business makes sense. It simplifies documenting your income/expenses. You can "explain" every dollar entering and exiting the account without having to remember that some of them were for non-business items. My credit union allowed me to have a 2nd checking account and allowed...	Share your insights or perspective on the financial matter presented in the input.	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: Having a separate bank account for business/investing, but not a “business account?” ### Input: Share your insights or perspect...
Having a separate bank account for business/investing, but not a “business account?”	You don't specify which country you are in, so my answers are more from a best practice view than a legal view.. I don't intend on using it for personal use, but I mean it's just as possible. This is a dangerous proposition.. You shouldn't co-mingle business expenses with personal expenses. If there is a chance this w...	Offer your thoughts or opinion on the input financial query or topic using your financial background.	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: Having a separate bank account for business/investing, but not a “business account?” ### Input: Offer your thoughts or opinion ...
Having a separate bank account for business/investing, but not a “business account?”	If it makes your finances easier, why not? My wife and I had his/hers/our since before we were married. I also have an account to handle transactions for my rental property, and one extra for PayPal use. I was paranoid to give out a checking account number with authorization for a third party to debit it, so that accou...	Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited.	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: Having a separate bank account for business/investing, but not a “business account?” ### Input: Utilize your financial knowledg...
Having a separate bank account for business/investing, but not a “business account?”	When I was younger I had a problem with Washington Mutual. Someone had deposited a check in to my account then ran my account negative with a "dupe" of my debit card. WaMu tied up my account for three months while they investigated because it wasn't simply a debit card fraud issue, this was check fraud (so they claim...	Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: Having a separate bank account for business/investing, but not a “business account?” ### Input: Offer your insights or judgment...
Business Expense - Car Insurance Deductible For Accident That Occurred During a Business Trip	As a general rule, you must choose between a mileage deduction or an actual expenses deduction. The idea is that the mileage deduction is supposed to cover all costs of using the car. Exceptions include parking fees and tolls, which can be deducted separately under either method. You explicitly cannot deduct insuran...	Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open.	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: Business Expense - Car Insurance Deductible For Accident That Occurred During a Business Trip ### Input: Based on your financia...
Starting a new online business	Most US states have rules that go something like this: You will almost certainly have to pay some registration fees, as noted above. Depending on how you organize, you may or may not need to file a separate tax return for the business. (If you're sole proprietor for tax purposes, then you file on Schedule C on your pe...	Share your insights or perspective on the financial matter presented in the input.	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: Starting a new online business ### Input: Share your insights or perspective on the financial matter presented in the input. #...
“Business day” and “due date” for bills	I don't believe Saturday is a business day either. When I deposit a check at a bank's drive-in after 4pm Friday, the receipt tells me it will credit as if I deposited on Monday. If a business' computer doesn't adjust their billing to have a weekday due date, they are supposed to accept the payment on the next business...	Offer your thoughts or opinion on the input financial query or topic using your financial background.	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: “Business day” and “due date” for bills ### Input: Offer your thoughts or opinion on the input financial query or topic using y...
“Business day” and “due date” for bills	You definitely have an argument for getting them to reverse the late fee, especially if it hasn't happened very often. (If you are late every month they may be less likely to forgive.) As for why this happens, it's not actually about business days, but instead it's based on when they know that you paid. In general, the...	Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited.	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: “Business day” and “due date” for bills ### Input: Utilize your financial knowledge, give your answer or opinion to the input q...
“Business day” and “due date” for bills	It's likely that your bill always shows the 24th as the due date. Their system is programmed to maintain that consistency regardless of the day of the week that falls on. When the 24th isn't a business day it is good to error on the side of caution and use the business day prior. It would have accepted using their sys...	Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: “Business day” and “due date” for bills ### Input: Offer your insights or judgment on the input financial query or topic using ...
New business owner - How do taxes work for the business vs individual?	Through your question and then clarification through the comments, it looks like you have a U.S. LLC with at least two members. If you did not elect some other tax treatment, your LLC will be treated as a partnership by the IRS. The partnership should file a tax return on Form 1065. Then each partner will get a Sche...	Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open.	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: New business owner - How do taxes work for the business vs individual? ### Input: Based on your financial expertise, provide yo...
How to deposit a cheque issued to an associate in my business into my business account?	Have the check reissued to the proper payee.	Share your insights or perspective on the financial matter presented in the input.	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: How to deposit a cheque issued to an associate in my business into my business account? ### Input: Share your insights or persp...
How to deposit a cheque issued to an associate in my business into my business account?	Just have the associate sign the back and then deposit it. It's called a third party cheque and is perfectly legal. I wouldn't be surprised if it has a longer hold period and, as always, you don't get the money if the cheque doesn't clear. Now, you may have problems if it's a large amount or you're not very well know...	Offer your thoughts or opinion on the input financial query or topic using your financial background.	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: How to deposit a cheque issued to an associate in my business into my business account? ### Input: Offer your thoughts or opini...
Hobby vs. Business	Miscellaneous income -- same category used for hobbies.	Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited.	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: Hobby vs. Business ### Input: Utilize your financial knowledge, give your answer or opinion to the input question or subject . ...
Hobby vs. Business	You can list it as other income reported on line 21 of form 1040. In TurboTax, enter at: - Federal Taxes tab (Personal in Home & Business) - Wages & Income -“I’ll choose what I work on” Button Scroll down to: -Less Common Income -Misc Income, 1099-A, 1099-C. -The next screen will give you several choices. Choose "Oth...	Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: Hobby vs. Business ### Input: Offer your insights or judgment on the input financial query or topic using your financial expert...
Personal checks instead of business ones	I'll assume you are asking about a check for some kind of work or service that you provided them, that they hired your company to do. No large business will do that. In their records they have a contract with your company to provide services. If they write you a personal check it won't match with the contract, and when...	Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open.	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: Personal checks instead of business ones ### Input: Based on your financial expertise, provide your response or viewpoint on th...
Does U.S. tax code call for small business owners to count business purchases as personal income?	I am going to keep things very simple and explain the common-sense reason why the accountant is right: Also, my sister in law owns a small restaurant, where they claim their accountant informed them of the same thing, where a portion of their business purchases had to be counted as taxable personal income. In this case...	Share your insights or perspective on the financial matter presented in the input.	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: Does U.S. tax code call for small business owners to count business purchases as personal income? ### Input: Share your insight...
Does U.S. tax code call for small business owners to count business purchases as personal income?	It sounds like something is getting lost in translation here. A business owner should not have to pay personal income tax on business expenses, with the caveat that they are truly business expenses. Here's an example where what you described could happen: Suppose a business has $200K in revenue, and $150K in legitimate...	Offer your thoughts or opinion on the input financial query or topic using your financial background.	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: Does U.S. tax code call for small business owners to count business purchases as personal income? ### Input: Offer your thought...
Does U.S. tax code call for small business owners to count business purchases as personal income?	Expenses are where the catch is found. Not all expenditures are considered expenses for tax purposes. Good CPAs make a comfortable living untangling this sort of thing. Advice for both of your family members' businesses...consult with a CPA before making big purchases. They may need to adjust the way they buy, or t...	Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited.	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: Does U.S. tax code call for small business owners to count business purchases as personal income? ### Input: Utilize your finan...
How can I register a UK business without providing a business address?	You don't have to provide your personal home address per se. You can provide a legal address where Companies house can send across paper correspondence to. Companies house legally requires an address because directors are liable to their shareholders(even if you are the only shareholder) and to stop them from disappear...	Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: How can I register a UK business without providing a business address? ### Input: Offer your insights or judgment on the input ...
What are 'business fundamentals'?	From http://financial-dictionary.thefreedictionary.com/Business+Fundamentals The facts that affect a company's underlying value. Examples of business fundamentals include debt, cash flow, supply of and demand for the company's products, and so forth. For instance, if a company does not have a sufficient sup...	Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open.	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: What are 'business fundamentals'? ### Input: Based on your financial expertise, provide your response or viewpoint on the given...
Can I send a money order from USPS as a business?	Sure you can. You can fill in whatever you want in the From section of a money order, so your business name and address would be fine. The price only includes the money order itself. You can hand deliver it yourself if you want, but if you want to mail it, you'll have to provide an envelope and a stamp. Note that, si...	Share your insights or perspective on the financial matter presented in the input.	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: Can I send a money order from USPS as a business? ### Input: Share your insights or perspective on the financial matter present...
Business Investment Loss from prior year	You need to give specific dates! In the United States, you have three years to file an amended tax return. https://www.irs.gov/uac/Newsroom/Ten-Facts-about-Amended-Tax-Returns Did the restaurant fail in 2012? If so, that's probably the year to take the loss. If you need to amend your 2012 return, which you filed in 201...	Offer your thoughts or opinion on the input financial query or topic using your financial background.	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: Business Investment Loss from prior year ### Input: Offer your thoughts or opinion on the input financial query or topic using ...
Income tax exemptions for small business?	Yes, you should be able to deduct at least some of these expenses. For expense incurred before you started the business: What Are Deductible Startup Costs? The IRS defines “startup costs” as deductible capital expenses that are used to pay for: 1) The cost of “investigating the creation or acquisition of an active tra...	Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited.	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: Income tax exemptions for small business? ### Input: Utilize your financial knowledge, give your answer or opinion to the input...
1 EIN doing business under multiple business names	You're confusing a lot of things here. Company B LLC will have it's sales run under Company A LLC, and cease operating as a separate entity These two are contradicting each other. If B LLC ceases to exist - it is not going to have it's sales run under A LLC, since there will be no sales to run for a non-existent compan...	Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: 1 EIN doing business under multiple business names ### Input: Offer your insights or judgment on the input financial query or t...
How can I estimate business taxes / filing fees for a business that has $0 income?	Is the business an S-Corp, LLC or Sole Prop? I am going to guess based on the question that it is an LLC that you never closed with the state and you live in a state (NY) that charges a fee for having an LLC in the state in which case you owe those fees to the state. I am not aware of any taxes on the mere existence of...	Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open.	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: How can I estimate business taxes / filing fees for a business that has $0 income? ### Input: Based on your financial expertise...
How can I estimate business taxes / filing fees for a business that has $0 income?	You need to hire a tax professional and have them sort it out for you properly and advise you on how to proceed next. Don't do it yourself, you're way past the stage when you could. You're out of compliance, and you're right - there are penalties that a professional might know how to mitigate, and maybe even negotiate ...	Share your insights or perspective on the financial matter presented in the input.	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: How can I estimate business taxes / filing fees for a business that has $0 income? ### Input: Share your insights or perspectiv...
Would the purchase of a car for a business through the use of a business loan be considered a business expense?	You don't say what country you live in. If it's the U.S., the IRS has very specific rules for business use of a car. See, for starters at least, http://www.irs.gov/publications/p463/ch04.html. The gist of it is: If you use the car 100% for business purposes, you NEVER use it to drive to the grocery store or to your fri...	Offer your thoughts or opinion on the input financial query or topic using your financial background.	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: Would the purchase of a car for a business through the use of a business loan be considered a business expense? ### Input: Offe...
Deducting last years (undocumented) side business loss	You should speak to a good tax adviser. The less documentation you have the more problems IRS are going to cause you. Generally you can deduct business losses (in the year they occurred, which is 2011), but you have to show that that was a valid business, not just a way to reduce your tax bill with personal expenses. T...	Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited.	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: Deducting last years (undocumented) side business loss ### Input: Utilize your financial knowledge, give your answer or opinion...
30% share in business	Keep in mind a good lawyer will have the contract cover the five D's: Its really best to lay these things out ahead of time. I watched, first hand, two friends start a business. When they were broke and struggling the worked very well together. Then the money started rolling in. Despite exceeding their dreams they ...	Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: 30% share in business ### Input: Offer your insights or judgment on the input financial query or topic using your financial exp...
30% share in business	Get involved a lawyer and Accountant. Without it you may not be sure what you are getting. What exactly will 30% mean for me? It will mean exactly what gets written in contract. It can mean you are owner of 30% of the company. If this is structured as partnership, it would also mean you are party to 30% loss. It can me...	Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open.	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: 30% share in business ### Input: Based on your financial expertise, provide your response or viewpoint on the given financial q...
Claiming business expense from personal credit card	or just input it in my accounting software along with receipts, and then when I'm doing taxes this would go under the investment or loses (is it somewhere along that line)? Yes, this. Generally, for the long term you should have a separate bank account and charge card for your business. I started my business (LLC) ...	Share your insights or perspective on the financial matter presented in the input.	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: Claiming business expense from personal credit card ### Input: Share your insights or perspective on the financial matter prese...
Claiming business expense from personal credit card	There is no law that requires you to have a separate bank account for your business, or to pay all expenses from a business bank account. It is a GOOD IDEA to have a separate bank account and pay all business expenses from that account and all personal expenses from your personal account, because that makes sorting out...	Offer your thoughts or opinion on the input financial query or topic using your financial background.	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: Claiming business expense from personal credit card ### Input: Offer your thoughts or opinion on the input financial query or t...
Applying for and receiving business credit	I'm afraid the great myth of limited liability companies is that all such vehicles have instant access to credit. Limited liability on a company with few physical assets to underwrite the loan, or with insufficient revenue, will usually mean that the owners (or others) will be asked to stand surety on any credit. Howe...	Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited.	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: Applying for and receiving business credit ### Input: Utilize your financial knowledge, give your answer or opinion to the inpu...
Applying for and receiving business credit	Banks will usually look at 2 years worth of tax returns for issuing business credit. If those aren't available (for instance, for recently formed businesses), they will look at the personal returns of the owners. Unfortunately, it sounds like your friend is in the latter category. Bringing in another partner isn't nec...	Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: Applying for and receiving business credit ### Input: Offer your insights or judgment on the input financial query or topic usi...
Using business check to pay at retail	You can just buy the items personally and then submit an expense report to the company to get reimbursed. Keep all the receipts. Paying with a company check is also fine, but you might run into problems with stores not accepting checks.	Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open.	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: Using business check to pay at retail ### Input: Based on your financial expertise, provide your response or viewpoint on the g...
Tax whilst starting a business in full time employment	With a limited company, you'll have to pay yourself a salary through PAYE. With income from your other job taking you over the higher-rate threshold, you should inform HMRC of this and get a tax code of DO for the second job, meaning 40% tax (and also both employer's and employee's National Insurance) will be deducted ...	Share your insights or perspective on the financial matter presented in the input.	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: Tax whilst starting a business in full time employment ### Input: Share your insights or perspective on the financial matter pr...
Do I need a business credit card?	It can certainly help build a credit score, but remember that businesses gain credit differently from individuals. Depending on the country, there isn't usually a national register of business credit ratings the way there is for individuals. The credit record you'd be gaining is with your own bank only. Banks will us...	Offer your thoughts or opinion on the input financial query or topic using your financial background.	Below is an instruction that describes a finance-related task, paired with an input that provides further context. Write a response that appropriately completes the request. ### Instruction: Do I need a business credit card? ### Input: Offer your thoughts or opinion on the input financial query or topic using your fi...