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d5053afdacf3773674f1cf4928bfd1b3
“Business day” and “due date” for bills
[ { "docid": "0fe8ad531b8303ea06ea6b21256025fe", "text": "I don't believe Saturday is a business day either. When I deposit a check at a bank's drive-in after 4pm Friday, the receipt tells me it will credit as if I deposited on Monday. If a business' computer doesn't adjust their billing to have a weekday du...
[ { "docid": "133464c876056ea6f006d3b68d5352cd", "text": "In the US there is no set date. If all goes well there are multiple dates of importance. If it doesn't go well the budget process also may include continuing resolutions, shutdowns, and sequestrations.", "title": "" }, { "docid": "f2001e382...
fiqa
4be24be8a515e06f5115ccfbbb7d89f0
Is business the only way to become a millionaire?
[ { "docid": "fc961d78af0c6dc47b70cb7aedb508bc", "text": "\"Not at all. The Millionaire Next Door offers a book full of anecdotes on couples that earned money and saved their way to being millionaires. I believe about 1/3 or so had businesses, but the rest were employed and simply saved wisely. $3860/yr save...
[ { "docid": "6ceab9657a3d0586b638a48107e7f043", "text": "\"It is difficult to become a millionaire in the short term (a few years) working at a 9-to-5 job, unless you get lucky (win the lottery, inheritance, gambling at a casino, etc). However, if you max out your employer's Retirement Plan (401k, 403b) for ...
fiqa
a6e62f7014faca1b943b69cc49cc2440
Requirements for filing business taxes?
[ { "docid": "410ac68a03bad08212c249ea7a474349", "text": "\"While she can certainly get an LLC or EIN, it isn't necessarily required or needed. She can file as a sole-proprietor on her (or your joint) taxes by filling out a schedule-C addition to the 1040. Any income or losses will pass through to your exis...
[ { "docid": "c9465295f9681f3dc74f2e647335bfdd", "text": "Since you are living in India and earning income not from salary, you must file your tax return under ITR4(Profits or Gains of Business or Profession). You can do it online on IncomeTax India eFiling website, step by step guide available here.", "t...
fiqa
ec7a4c4c75b46a47ec0246312c7043b1
1040 Schedule A Un-Reimbursed Business Expense Reporting
[ { "docid": "27be59dd2f4445169ef9d91862353b69", "text": "It would be unusual but it is possible that the expenses could be very high compared to your income. The IRS in pub 529 explains the deduction. You can deduct only unreimbursed employee expenses that are: Paid or incurred during your tax year, For carr...
[ { "docid": "b288f4246d6d89e0c58cf716df4993bd", "text": "\"$500, this is called \"\"cash basis\"\" accounting. A large company might handle it otherwise, counting shipments/billings as revenue. Not you. Yet.\"", "title": "" }, { "docid": "bae6e8d76b98b2ba96a5520be36c2c8f", "text": "I believe ...
fiqa
089982ef8045087bf652197aa9f7f8a5
As a contractor, TurboTax Business-and-Home or Basic?
[ { "docid": "1a14a26662b5dddc3d1492462f1f4415", "text": "\"Assuming you file state tax returns, you shouldn't buy Basic. Ever. Your choice is probably between the \"\"Premier\"\" version and the \"\"Business and Home\"\" version. Price difference is insignificant (I have a comparison on my blog, including sh...
[ { "docid": "90bf0c014b7268f7f6404fa099240da9", "text": "This may not exactly answer your question but, as a small business owner, I would highly recommend having a professional handle your taxes. It is worth the money to have it done correctly rather than doing something wrong and getting audited or worse h...
fiqa
d9b8db81646dee94276ba5471dde796f
Income Tax form in India for freelancing
[ { "docid": "3829f2bd93fbc08fcf8d58ebe3c01c34", "text": "\"ITR1 or ITR2 needs to be filed. Declare the income through freelancing in the section \"\"income from other sources\"\"\"", "title": "" }, { "docid": "c9465295f9681f3dc74f2e647335bfdd", "text": "Since you are living in India and earni...
[ { "docid": "cb319900a611592c04987f31bf73e25a", "text": "Please consult at CA for specific's to your case. In general any income earned abroad can be brought to India tax free within 7 years. For more details refer to http://www.nritaxservices.com/ret_indn.htm", "title": "" }, { "docid": "358ca6c...
fiqa
03d9b65f6f532efd2e4e9e10fe0d5e9a
Should I be filling out form W-9 for somebody I sold used equipment to?
[ { "docid": "f1e3a3be118b48d06cf556ed92c5945f", "text": "They are a business. You're not a corporation. They paid you more than $600 during the year, so they're supposed to send 1099 to you and the IRS about it. They need your taxpayer certification (W9) for that. They were supposed to ask for it before they...
[ { "docid": "de91a74d3d2cb9541a9866e233ae6c28", "text": "Typically that applies if the broker Form 1099-B reports an incorrect basis to the IRS. If the Form 1099-B shows incorrect basis relative to your records, then you can use 8949, column (g) to report the correct basis. The 8949 Instructions provide a ...
fiqa
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
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
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
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
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