Questions tagged [accounting]
The process or work of keeping financial accounts.
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Could Trump have just avoided the charges?
In the recent NY v. Trump case, Mr. Trump was convicted of falsifying business records (34 times).
I found this article helpful in explaining the case
Once Mr. Trump or his lawyers suspected that law ...
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What are the federal tax consequences of the repossession of a property where the FMV is less than the value of the loan?
This is a conceptual question, but I have included a sample set of facts to set the stage:
Bank loans $200k to Individual A to purchase home.
Individual A pays the loan down by $20k, but eventually
...
user56567
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Workloads on Flux Cloud, who is accountable / responsible for any kind of content hosted on the platform?
I recently stumbled across the https://runonflux.io platform which promises to host decentralized web applications by distributing the workload among many individual locations / distributed nodes.
&...
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Payment made by LLC debit/credit card, but order placement done through a personal account [closed]
I recently formed a multi-member LLC, opened its bank account and have its debit/credit cards.
To buy inventories for the business, I logged into eBay/Amazon using my personal account, and then bought ...
2
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0
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Anti Money Laundering (AML) information on the beneficial owner for clients of a custodian
A custodian bank has a client which is an investment arranger.
The funds of the investment arranger's clients are held at the custodian.
The custodian has flagged one of the investment arranger's ...
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How are non-monetary assets valued in the divorce?
In case of divorce, let's say spouse A purchased an expensive item for $X, when fair value for it at purchase would be $Y, assessed resell value at time of divorce is $Z, and depreciated accounting ...
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When exactly does UK self-assessment tax accrue?
In the UK, "Self-assessed income tax (for those who pay by instalments) will be deemed to accrue evenly over the tax year in which the relevant accounting period ends. The accrual will be
based ...
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Make up a company's financial history
I have a Dutch company that has been in business for about 5 years. When we registered it, we also registered a company in the US. We were advised that we did NOT need to file a tax return since we ...
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What's the point of this partnership template revenue clause?
In this partnership agreement template it states that
The Company will allocate items of income and losses as if the Company were liquidated, its assets sold at their fair market value, and the ...
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If a European bank keeps debiting illegal account management charges, is there a way to block debits or even enforce a SEPA direct debit charge back?
If the European bank at which you have an account keeps debiting illegal account management charges from said account (e.g. an arbitrary 300% of the amount contractually agreed) and doesn't react to ...
user45777
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Is it illegal for an employer to send the W-2 statement of the employee to an accountant (contractor) from a third-party firm?
Is it illegal for an employer to send the employees' W-2 statements (of the employee without their permission) to the accountant (who is a third-party contractor) for the purposes of making the ...
user38388
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A departing director wants to convert his directors loan and owed salary into shares. How do we value the shares, and what are we obliged to pay?
We are raising investment with individual shares valued at £5.
A founder & director is leaving the company and claiming owed salary and directors' loans need to be paid or converted to shares. We ...
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1
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Can U.S. companies legally document stock buybacks as assets?
In the U.S., Jack creates a C-corporation and funds it with $100, receiving 100 shares in return. Greg, a passive investor, then gives the company $900 in exchange for 900 newly issued shares. The ...
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What is penalty for not closing Delaware C-Corp?
I'm a non-US citizen and started Delaware C-Corp in Sep 2021, now I have to pay $400 franchise tax, accountant cost, and closing cost. I don't close this C-corp officially and In the future, If I have ...
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Does a purchase and refund count as a "significant transaction" for HMRC and Companies House?
Consider the following hypothetical scenario. Company A incorporates in the UK on day D. Company A makes a purchase to present a product at a trade show and gauge market interest. It attends the show, ...
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