Author Topic: jersey care  (Read 51417 times)

Offline Fan of Dan

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Re: jersey care
« Reply #30 on: January 01, 2013, 09:07:45 AM »
link your cc to the account maybe?
Well the question was if I can link someone else's account to my credit card. As the names will not much I wonder if it will work.

Offline churnbabychurn

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Re: jersey care
« Reply #31 on: January 01, 2013, 09:14:17 AM »
there is a difference btwn paying a cc from the bank website and paying a cc from the cc website.
try both.

Offline churnbabychurn

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Re: jersey care
« Reply #32 on: January 01, 2013, 09:17:03 AM »
I have a feeling that having a coorperation bank and /or AP accounts would help in avoiding having to explain stuff.
Does anyone have experience with this? Also are there Tax implications to setting up a coorp.?

Offline elikay

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Re: Re: jersey care
« Reply #33 on: January 02, 2013, 04:58:44 PM »
Also are there Tax implications to setting up a corp.?
You would need to keep books and unless you have an s corp,  may get double taxed.

Offline MarkS

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Re: Re: jersey care
« Reply #34 on: January 02, 2013, 05:56:18 PM »
I have a feeling that having a coorperation bank and /or AP accounts would help in avoiding having to explain stuff.
Does anyone have experience with this? Also are there Tax implications to setting up a coorp.?
Once you are lying to Jersey care and not reporting that you own a corporation, might as well just have 2 separate bank accounts and only report 1 and lie about the other 1.   #justsaying

Offline churnbabychurn

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Re: Re: jersey care
« Reply #35 on: January 02, 2013, 06:41:52 PM »
Once you are lying to Jersey care and not reporting that you own a corporation, might as well just have 2 separate bank accounts and only report 1 and lie about the other 1.   #justsaying
I was thinking of reporting that I own the cooperation but that I have little or no income from it.
Besides, they can (presumably) easily find any accounts under your name. {Though they never asked me about my other accounts...}

Offline churnbabychurn

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Re: Re: jersey care
« Reply #36 on: January 02, 2013, 06:44:28 PM »
You would need to keep books and unless you have an s corp,  may get double taxed.
We'r talking about a cooperation that I make no income from. The question is whether the coorp, which will also have minimal income will be taxed.

Offline churnbabychurn

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Re: jersey care
« Reply #37 on: January 02, 2013, 06:45:39 PM »
as in the type that will go on my personal returns.

Offline MarkS

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Re: jersey care
« Reply #38 on: January 02, 2013, 07:05:50 PM »
If it's a C Corp you will pay double tax. If it's an S Corp or LLC any income that it earns goes to you and it doesn't help you  any more than just earning the money without a Corp.

And if you have 10 bank accounts but only report one of them Jersey Care will only know about that one. Obviously that's illegal...

Offline churnbabychurn

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Re: jersey care
« Reply #39 on: January 02, 2013, 07:33:15 PM »
If its an S corp/LLC thing, on my tax return all i need to report is a profit. if its a loss I dint make extra income.
All I wanna do is the CC-AP-bank account, all under a LLC so its not a personal bank account that legally needs to be reported to Jersey care. 
 

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Re: jersey care
« Reply #40 on: January 02, 2013, 07:48:11 PM »
If it's a C Corp you will pay double tax. If it's an S Corp or LLC any income that it earns goes to you and it doesn't help you  any more than just earning the money without a Corp.

And if you have 10 bank accounts but only report one of them Jersey Care will only know about that one. Obviously that's illegal...
By law I have heard from the LRRC that you do not need to report biz bank account to jersey care only personal. Income though would need to be reported of course.

Offline churnbabychurn

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Re: jersey care
« Reply #41 on: January 02, 2013, 08:18:38 PM »
By law I have heard from the LRRC that you do not need to report biz bank account to jersey care only personal. Income though would need to be reported of course.
+1 like thanks.
So Ap from wife's cc to business account back to cc is not income and does not violate any rules when not reported.

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Re: jersey care
« Reply #42 on: January 02, 2013, 09:57:16 PM »
So Ap from wife's cc to business account back to cc is not income and does not violate any rules when not reported.
This is true. I plan on linking my amazon account to a biz banking account.

Offline churnbabychurn

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Re: jersey care
« Reply #43 on: January 02, 2013, 10:05:13 PM »
might need to have a business ap account to be super safe...
Btw whats a good option for a free business checking account?

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Re: jersey care
« Reply #44 on: January 02, 2013, 10:28:43 PM »
might need to have a business ap account to be super safe...
Btw whats a good option for a free business checking account?
Capital one on Airport road. First commerce bank on rt 9.