Author Topic: any accountants out there that i can ask a question?  (Read 187551 times)

Offline churnbabychurn

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Re: any accountants out there that i can ask a question?
« Reply #150 on: March 23, 2014, 08:56:39 AM »
BUMP
a Nj llc needs to file an annual report $50 to remain in compliance.
Do it here: https://www1.state.nj.us/TYTR_COARS/JSP/page1.jsp

Might be a 125$ fee per member also.

Is your llc a partnership?
« Last Edit: March 23, 2014, 09:06:21 AM by churnbabychurn »

Offline Super Speed

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Re: any accountants out there that i can ask a question?
« Reply #151 on: March 23, 2014, 02:58:06 PM »

Offline churnbabychurn

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Re: any accountants out there that i can ask a question?
« Reply #152 on: March 23, 2014, 03:42:20 PM »
Yes
If you dont have income or loss I dont think you have to file. Otherwise you have to file and there is a filing fee of like 150 per partner.

#My advice is worth what you paid for it.

Offline EJB

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Re: any accountants out there that i can ask a question?
« Reply #153 on: March 30, 2014, 09:30:38 AM »
What morons. I left an APT in NYC in 2011, and was JUTS forwarded a 2013 1099-INT for the interest on my security deposit. They apparently sent both the check (which I never received) and the 1099 to my previous address 1.5 years after I left.

Offline ashers

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Re: any accountants out there that i can ask a question?
« Reply #154 on: April 02, 2014, 03:21:22 PM »
Any accountants here that want to do my taxes this year?
Obviously for a fair pay....
it CAN be done!

Offline MarkS

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Re: any accountants out there that i can ask a question?
« Reply #155 on: April 02, 2014, 03:33:33 PM »
Any accountants here that want to do my taxes this year?
Obviously for a fair pay....

Good luck with that! At this point you're probably better off doing an extension which you can do for free on turbo tax (provided that you approximate and pay any tax liability).

Offline henche

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Re: any accountants out there that i can ask a question?
« Reply #156 on: April 02, 2014, 08:44:30 PM »
Any accountants here that want to do my taxes this year?
Obviously for a fair pay....

I would do a 1040EZ for 500 bucks. (on turbotax)

Offline churnbabychurn

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Re: any accountants out there that i can ask a question?
« Reply #157 on: April 02, 2014, 08:55:48 PM »
I would do a 1040EZ for 500 bucks. (on turbotax)
You usually bill @500 an hour?

Offline Ergel

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Re: any accountants out there that i can ask a question?
« Reply #158 on: April 02, 2014, 08:59:15 PM »
You usually bill @500 an hour?
His firm bills him at more than that
Life isn't about checking the boxes. Nobody cares.

Offline henche

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Re: any accountants out there that i can ask a question?
« Reply #159 on: April 02, 2014, 11:01:52 PM »
You usually bill @500 an hour?

I don't think I'm allowed to moonlight, so I need to build in a risk premium.

Offline yitzf

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Re: any accountants out there that i can ask a question?
« Reply #160 on: April 02, 2014, 11:03:21 PM »
When a store sells a lottery ticket they don't book a $2 sale and $1.xx cost of goods sold, rather they just book the ~6% commission as revenue. The question is when CVS sells VR do they book the $503.95 sale or just the commission they get. Nafka Mina, everyone is assuming that CVS's revenue will fall this quarter and therefore they should short NYSE:CVS, might no be so.

(The reasoning behind lottery accounting is that the $2 isn't their income, it has to be passed on to the state, so the sale is credited to a liability account. Same with VR, the $500 has to be passed on to Incomm).

Your thoughts בבקשה.

Offline EJB

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Re: any accountants out there that i can ask a question?
« Reply #161 on: April 02, 2014, 11:07:39 PM »
When a store sells a lottery ticket they don't book a $2 sale and $1.xx cost of goods sold, rather they just book the ~6% commission as revenue. The question is when CVS sells VR do they book the $503.95 sale or just the commission they get. Nafka Mina, everyone is assuming that CVS's revenue will fall this quarter and therefore they should short NYSE:CVS, might no be so.

(The reasoning behind lottery accounting is that the $2 isn't their income, it has to be passed on to the state, so the sale is credited to a liability account. Same with VR, the $500 has to be passed on to Incomm).

Your thoughts בבקשה.

I would not trade CVS solely based on them going cash only for VR

Offline churnbabychurn

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Re: any accountants out there that i can ask a question?
« Reply #162 on: April 03, 2014, 12:03:27 AM »
They are essentially holding vr on consignment. I cant believe retailers can book GC as inventory.

The test is who holds risk of the goods. Until activated its poshut that CVS isn't risking $500.
« Last Edit: April 03, 2014, 12:06:32 AM by churnbabychurn »

Offline avrumy

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Re: any accountants out there that i can ask a question?
« Reply #163 on: April 03, 2014, 12:08:00 AM »
Any accountants here that want to do my taxes this year?
Obviously for a fair pay....
I may be able to help you. How complicated?

Offline Bostener

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Re: any accountants out there that i can ask a question?
« Reply #164 on: April 03, 2014, 06:18:25 AM »
When a store sells a lottery ticket they don't book a $2 sale and $1.xx cost of goods sold, rather they just book the ~6% commission as revenue. The question is when CVS sells VR do they book the $503.95 sale or just the commission they get. Nafka Mina, everyone is assuming that CVS's revenue will fall this quarter and therefore they should short NYSE:CVS, might no be so.

(The reasoning behind lottery accounting is that the $2 isn't their income, it has to be passed on to the state, so the sale is credited to a liability account. Same with VR, the $500 has to be passed on to Incomm).

Your thoughts בבקשה.


There's a special GAAP ruling for CVS.

Airlines sending me "We're in this together" emails.

Bruh, where were you when my suitcase weighed it 51.50 pounds?