Author Topic: any accountants out there that i can ask a question?  (Read 490541 times)

Offline googwallet

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Re: any accountants out there that i can ask a question?
« Reply #1140 on: October 31, 2016, 10:48:33 AM »
who said sell?
Didn't know it was possible to transfer an account to another person without "selling" the shares. I'm assuming from your response that it is..

Offline Dawie

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Re: any accountants out there that i can ask a question?
« Reply #1141 on: October 31, 2016, 10:51:54 AM »
Didn't know it was possible to transfer an account to another person without "selling" the shares. I'm assuming from your response that it is..
AFAIK to kid you for sure can
http://finance.zacks.com/transfer-shares-stock-another-person-2598.html

Offline googwallet

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Offline Zevwolf

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Re: any accountants out there that i can ask a question?
« Reply #1143 on: November 03, 2016, 02:01:09 PM »
If my business is an S corporation and put myself on the payroll as a salaried employee, am I required to pay
unemployment tax?

Offline Bh101

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Re: any accountants out there that i can ask a question?
« Reply #1144 on: November 03, 2016, 02:02:15 PM »
yes

Offline yomo

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Re: any accountants out there that i can ask a question?
« Reply #1145 on: November 03, 2016, 08:45:28 PM »
yes
Are you sure about that?
You can then "fire" yourself and claim unemployment?

Offline ExGingi

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Re: any accountants out there that i can ask a question?
« Reply #1146 on: November 03, 2016, 11:00:47 PM »
Didn't know it was possible to transfer an account to another person without "selling" the shares. I'm assuming from your response that it is..
There are many things one should consider before transferring assets to a child. Don't let the tax tail wag the dog!

As for your original question, in some cases you might be able to get an estimate from the fund company.
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline ExGingi

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Re: any accountants out there that i can ask a question?
« Reply #1147 on: November 03, 2016, 11:02:55 PM »
If my business is an S corporation and put myself on the payroll as a salaried employee, am I required to pay
unemployment tax?
AFAIK the only thing that an owner isn't required to do if he's on his own payroll is get worker's comp.
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline Mordyk

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Re: any accountants out there that i can ask a question?
« Reply #1148 on: November 03, 2016, 11:05:48 PM »
AFAIK the only thing that an owner isn't required to do if he's on his own payroll is get worker's comp.
+1
#TYH

Offline Bh101

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Re: any accountants out there that i can ask a question?
« Reply #1149 on: November 04, 2016, 11:19:06 AM »
Are you sure about that?
You can then "fire" yourself and claim unemployment?
yes, im sure

Offline Bh101

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Re: any accountants out there that i can ask a question?
« Reply #1150 on: November 04, 2016, 11:27:20 AM »
AFAIK the only thing that an owner isn't required to do if he's on his own payroll is get worker's comp.
correct

Offline Zevwolf

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Re: any accountants out there that i can ask a question?
« Reply #1151 on: November 04, 2016, 11:43:39 AM »
Is Unemployment Insurance the same thing as Disability Insurance?

Offline ExGingi

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Re: any accountants out there that i can ask a question?
« Reply #1152 on: November 04, 2016, 11:44:37 AM »
Is Unemployment Insurance the same thing as Disability Insurance?
NO.

Unemployment insurance is an assessment every employer pays as a percentage of their payroll. The rate will vary with experience (i.e. an employer with high employee turnover might have a higher rate than an employer with very low turnover).

Workers Compensation is a policy every employer must have in order to cover their employees in case they are injured on the job.

Disability Insurance is private insurance that would replace (a portion of) one's income if they are too sick or injured to work. It can be an employer based group policy, or an individual policy that would cover an insured even if they switch jobs. NY State also has something called DBL, which provides a minimal disability benefit (IINM something around $170/week for up to 26 weeks) which is paid by employer, who may in turn also bill a small portion to the employee.
« Last Edit: November 04, 2016, 11:50:27 AM by ExGingi »
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline Zevwolf

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Re: any accountants out there that i can ask a question?
« Reply #1153 on: November 04, 2016, 11:49:32 AM »
Is Unemployment Insurance included in payroll or you need to file it separately?

Offline ExGingi

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Re: any accountants out there that i can ask a question?
« Reply #1154 on: November 04, 2016, 11:51:07 AM »
Is Unemployment Insurance included in payroll or you need to file it separately?
It's filed/paid as part of the quarterly payroll taxes.
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Online aygart

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Re: any accountants out there that i can ask a question?
« Reply #1155 on: November 04, 2016, 11:58:44 AM »
What are the accountant opinions regarding Dan deducting his Starwood points for the first pitch as a business expense?
Feelings don't care about your facts

Offline Bh101

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Re: any accountants out there that i can ask a question?
« Reply #1156 on: November 04, 2016, 12:00:46 PM »
What are the accountant opinions regarding Dan deducting his Starwood points for the first pitch as a business expense?
lol

Online aygart

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Re: any accountants out there that i can ask a question?
« Reply #1157 on: November 04, 2016, 12:26:50 PM »
lol
The publicity he got from this is probably more than any of the major glitches and included a different crowd as well.
Feelings don't care about your facts

Offline ExGingi

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Re: any accountants out there that i can ask a question?
« Reply #1158 on: November 04, 2016, 01:44:41 PM »
What are the accountant opinions regarding Dan deducting his Starwood points for the first pitch as a business expense?
Were points earned recognized/reported as income?
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline ExGingi

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Re: any accountants out there that i can ask a question?
« Reply #1159 on: November 04, 2016, 01:46:40 PM »
The publicity he got from this is probably more than any of the major glitches and included a different crowd as well.
I would argue that if he paid $20,000 in cash it should definitely be claimed as an Advertising and promotion expense, as that is the only tangible benefit received in exchange.
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan