Business & Finance - 9 August 2007

The Farmers National Bank building in Owatonna was an early building by Louis Sullivan, built in about 1907-1908... was there a bank there before that? Who were it's founders? Were they local farmers? I'm doing a family history project, so all relevent information will be appreciated. Thanks.

2007-08-09 03:18:35 · 1 answers · asked by robertkentigoe 1 in Other - Business & Finance

Husband & wife owns a tiny neighborhood convenience store(sells groceries, beer & wine, lottery) & works 7 days a week (about 80 hrs/week). They've been working in this arrangement for past 5 years. They're getting a little tired physically cause they don't have any days off & bills need to be paid.

One day one of customer asks if we would hire him part time.

He says he has a regular full time job(cashier at some market similar to ours but bigger) where he pays taxes. Since he currently works Mon-Fri, he says he can work for us just on Sundays(9 am to 8 pm). But he'd rather want to be paid cash(at minimum wage($7.50/hr)). If we hire him, we can have Sunday off to relax.

Should we hire him with this arrangement?
I am just afraid of IRS or some government agency might come after us later on.
Or will IRS give us a break since we pay full taxes and the potential part-time employee pays taxes on his other full-time job? The store is in Los angeles by the way

2007-08-09 03:18:23 · 8 answers · asked by mane 1 in United States

To extract 401k money from an account from an old employer without paying so much of a penalty. (rolling over is not an option)

2007-08-09 03:17:18 · 4 answers · asked by Coach 6 in Personal Finance

I work for a company that lays out and designs residential subdivision projects. My boss is the owner of the company, and we've been lifelong friends.

He has worked out a deal with a developer wherein instead of charging our normal fees for designing his project, the developer is going to give my boss 3 lots in the development. EACH of these lots will be valued at approximately 150,000-200,000 dollars.

My boss has said he is going to outright GIVE me one of the three lots. I'm trying to figure out the best way to do this so that it minimizes the tax hit on both of us...

My boss and I have a side company we set up this year, an LLC with he and I as the only partners. Its purpose is to buy and develop real estate.

So, my questions are:

1. If my boss gives me a lot, is it considered a "bonus," and thus taxable as income, or is it a "gift?" What are the tax implications of the latter, if that's what it is?

2. Would there be any advantage to (see more below)

2007-08-09 03:12:05 · 6 answers · asked by Anonymous in United States

Claims to be a business from England

2007-08-09 03:10:01 · 1 answers · asked by luckyone12 1 in Other - Business & Finance

how the Payroll cycle is different from the sales and collection cycle, aquisition and payment cycle, capital acquisition and repayment cycle?

2007-08-09 03:08:29 · 3 answers · asked by Anonymous in Other - Business & Finance

2007-08-09 03:07:54 · 3 answers · asked by Anonymous in Other - Taxes

http://www.aboutus.org/SpeedyBadCreditLoans.com

I recently joined CCCS and I thought it would help my debt situation; however, its made it worse. They never told me that my credit union didn't accept their proposal so I am now 2 months behind in payments with them, and then they also "forgot" to debit my bank account for last months payment, so I am 1 month behind with all of my other creditors. I want a loan for about 28k to consolidate everything and make 1 monthly payment . Due to my debt to income ratio and now my 60 day past due status, my credit has to be awful and without a cosigner I cannot get approval. Short of asking my best friend (which I really do not want to do because thats a recipe for disaster) to cosign, what can I do? This link asks me to pay $40 for "100% guranteed approval" but I am 99.9% sure its a scam right?

2007-08-09 03:02:35 · 5 answers · asked by Stephanie P 3 in Personal Finance

They operate differently. Everbody says that "if you have an Amex card thats really something" and a discovery card computes their interest different than other that i know of. Just how does it work?

2007-08-09 03:01:06 · 4 answers · asked by Charles C 2 in Credit

Okay, here's the situation, I worked for a company that went out of business 10/06, since then new owners bought the company (the assests only) and renamed it something similar to the old company that went out of business. Now i'm hearing the company that went out of business had past due invoices in thousands of dollars that has not been paid. Now a company has served me some papers as an individual defendant to apprear in court. I was the purchasing manager for the company that went belly up and served only as an agent for buying / contracting services for the company. Can the companies that my old company owes money to go after me for payment of past due accounts? Why am I being served papers and named as an individual defendant?

2007-08-09 02:56:56 · 2 answers · asked by Anonymous in Corporations

and when I came back to get them a few minutes later they were taken.
What can I do? Does insurance cover my loss/theft?

2007-08-09 02:54:41 · 9 answers · asked by Pie 3 in Insurance

Could you give me the entry to these...?
Jan 8 Purchase land and building with a lump sup price of 2,000,000. 45% of which will be allocated to the building.

Jan 9 Purchased 10,000 units of merchandise (CD) at $100 unit price (Cash Basis). Freight charges to this purchase amounts to P1,000.

Jan 21 Sold 4000 units CD at $330 per CD.(Periodic Method)

Feb 5 Sold 3,300 CDs at $350 per CD on Account.

Feb 10 Issued credit memo for the 100 units of merchandise returned to the sales on Feb 5.

Feb 14 Returned the merchandise received on Feb 10 to the supplier. This is related to the purchase on Jan 9.

Feb 23 Sold 1000 units of CDs at $290 unit price. (10% on cash basis and the remainder on account).

Please explain to me why....

Thanks....

2007-08-09 02:51:34 · 1 answers · asked by Caine 1 in Corporations

i need something lioke a real payday loan or a cash advance or a short term loan but without any fees?

2007-08-09 02:47:57 · 3 answers · asked by Anonymous in Personal Finance

I know it will vary, but I'm just talking about an average per year. I live in alabama and am in telecomunication sales now and have been for the past 3 years. Any insite would be great.

2007-08-09 02:41:02 · 5 answers · asked by Krystal V 2 in Renting & Real Estate

A company had stock outstanding as follows during each of its first three years of operations: 2,000 shares of $10, $100 par, cumulative, nonparticipating preferred stock and 50,000 shares of $10 par common stock. The amounts distributed as dividends are presented below. Determine the total and per share dividends for each class of stock for each year by completing the schedule.
preferred common
year dividends Total Per Share Total Per Share
1 $10,000 _______ ______ _______ ________
2 25000 _______ ______ ______ _______
3 60,000 _______ ______ ______ _______

there is not a % given for preferred stock... is the question unanswerable? N/A is not a choice on the test!

2007-08-09 02:37:05 · 3 answers · asked by justin 1 in Other - Business & Finance

2007-08-09 02:35:19 · 2 answers · asked by Anonymous in Investing

There are so many tests these days to establish skills known as degrees
Now surly there is a method too of measuring common sense please?
I have never seen this valuable asset presented as an essential qualification
Never ever, in commerce politics medical or administrative application.
There must be a measure devised by some body with an impressive degree
Or is this a matter such a challenge to those who strut BA’s Ma’s and BSc’s?
The country is desperate for those with this most valuable gift from God
To step forth and offer a way to test these overbearing numerous pompous silly sods
Who make a sore trial of the poor citizen’s lives and patience, for a considerable fee?
They so often charge for making a mess, when a common sense holder is so often free.

2007-08-09 02:28:37 · 1 answers · asked by Anonymous in Other - Business & Finance

2007-08-09 02:16:38 · 9 answers · asked by bljstylist 2 in Renting & Real Estate

do i need to put his name on my deeds to acquire the joint morgage.?

2007-08-09 01:58:14 · 4 answers · asked by Anonymous in Personal Finance

I also have a Paralegal certificate, I have found temp works in paralegal, nothing perm. I relocated to Georgia in Feb. of 2006, same thing. My resume was done by a professional, still no solid job. Finally, I got a temp job which lasted for 7 months. Meanwhile, I have a home to pay. No job not even at Walmart. Where do I go from here?
p.s. I forgot to say that I was trained as a patient care tech, where do I go with that? I have a RE License in GA, real estate market extremely slow everywhere. Any advice will do.
If any of you can give me some leads I'll be forever grateful.

Thanks.
GJ

2007-08-09 01:51:42 · 5 answers · asked by GJ 1 in Law & Legal

2007-08-09 01:51:17 · 14 answers · asked by Anonymous in Other - Business & Finance

2 years ago in April last, my partner of 11 years abandoned me for someone else. For 11 years I`d supported him financially, he hasn`t paid a single penny to anything since he left and I have no idea where he has gone to - before he left, he ran up debts and emptied my bank account! I am in serious debt now as a result of this and need to either sell my home or re-finance, neither of which I can do without my ex`s signature - he has made it quite clear he`d be pleased if my home was re-possessed (it was bought with monies left by late husband, but I foolishly put my ex`s name on the house as he `didn`t feel part` of our home!), my mortgage company will not move! they will not take his name off and are threatening to repossess my home as I have fallen into arrears ( they are insisting on the arrears being paid off in full plus 6 months payments before they will even consider taking his name off) - I have my hands tied, can anyone tell me how I can get his name off please?

2007-08-09 01:48:11 · 4 answers · asked by Anonymous in Renting & Real Estate

2007-08-09 01:41:22 · 2 answers · asked by david 1 in Other - Business & Finance

When you don't have the degree for a job, your not qualified, but when you do get the degree, it's still not enough.

2007-08-09 01:39:36 · 14 answers · asked by JustSomeone 1 in Administrative and Office Support

I have heard something about a $500 rule for donating, but an confused? does anybody know the rules about donating and using them when I itemize my taxes?

2007-08-09 01:37:29 · 2 answers · asked by Anonymous in United States

2007-08-09 01:36:30 · 2 answers · asked by ramanan r 1 in Corporations

I have tried pubs, hairdressers, cafes and market stools. thanx. xx

2007-08-09 01:34:38 · 18 answers · asked by Anonymous in Small Business

I am just got a new job and am filling out my W-4 forms and had a question. I am legally separated from my wife (soon to be divorced) and I have residental custody of her. My daughter will be living with me full-time. Am I a 'Head of Household' for tax purposes. The definition on my forms use the term 'unmarried.' I am assume that would be appropriate in this case.

Thanks

2007-08-09 01:30:21 · 5 answers · asked by Tri-Guy 2003 2 in United States

I need a new bank because I move around a lot and am getting tired of closing bank accounts and opening new ones. A good national bank may help solve that problem.

So which one, out of these 3, is the "best":
Wells Fargo
Bank of America
US Bank.

2007-08-09 01:26:25 · 8 answers · asked by Judy 5 in Personal Finance

If there is a financing option for breast implants...how high does your credit score need to be to be approved for such a loan?

2007-08-09 01:18:22 · 7 answers · asked by Jen 1 in Credit