Accounting For Fund To Invest Easily With Working Capital Management



bookkeeping companies in usa – Working Capital Management |A&C



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Best way to reduce taxes? Transferring-money-to-my-wife-and-child





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I, as US non-resident, transferred some money from my US bank account into my wife’s and son’s US bank accounts. Some people say that it is classified as a gift and obligated for taxation, because we are aliens, not citizens. Well, citizens also pay gift taxes, but if the amount of gift is very huge (around 5 million dollars) I would like to know how to optimize this expense. Maybe I should file this transfer as a “family loan”?
Thank you in advance.

1 Answer

Assuming United States; rules may be wildly different elsewhere…

The "family loan" trick essentially lets you amortize a gift over multiple years of gift allowance and hopefully dodge gift tax, at the cost of having to pay income tax on the interest you must charge on the loan. The main advantage is that it lets you transfer all the money up front, rather than in $17,000-a-year-per-person-per-person chunks.

Let’s take the normal case first. Any one person can give any one person up to a specified amount (currently $17k, I believe,) without incurring gift tax. Note that this is counted per person, not per household; you and your spouse could each give $17k per year to each of your son and his spouse under this rule, adding up to $68k per year total.

The family loan dodge consists of making them a loan of the money at the mandated minimum interest rate to make it a legal loan (something like 0.3% APR last time I looked), setting the repayment schedule so their payments each year including interest come out to less than you can gift them with tax-free, and then making that gift by paying (yourself) those payments on their behalf. You do need to pay income tax on the portion of those payments that represents interest income, but at that low rate this is a minor cost for the convenience.

You’d also want to set up your will to cover what happens if you die with them still owing money on the loan. And this, I believe, is where you will really need expert advice if you go this route, to minimize the government’s cut at that time.

There may be better answers. If you are talking about this much money, you owe it to yourself to purchase expert advice from someone who has training and experience n this area, rather than taking free advice from the Internet that is likely to cost you much more in the long run. This is a situation where you can’t afford not to hire a pro. (For example, I have no idea how trusts might or might not fit your needs.)

Research & References:

http://money.stackexchange.com/questions/74590/how-do-i-minimize-taxes-when-transferring-money-to-my-wife-and-child

– See more at: http://acallresources.com/blog/how-do-i-minimize-taxes-when-transferring-money-to-my-wife-and-child/#sthash.OtQR8SfX.dpuf



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Money investment opportunities – Find Fund To Invest Easily With Financial Ratios



Money investment opportunities – Find Fund To Invest Easily With Financial Ratios|A&C



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Average cost of bookkeeping services for small business By Vish K S

Outsourcing the bookkeeping or accounting functions offers noteworthy benefits and advantages to the Company that outsource the task. Businesses require a long list of duties to be completed in real time to make the operations running smooth. If the business happens to be of a small scale nature, one can surmise that the owner of the business is directly involved in all the operations including the different processes of hiring and firing, taking stock of the inventory and maintaining the Company books. When it comes to bookkeeping tasks, even the smaller Companies take the course of outsourcing their bookkeeping work to third-party bookkeepers. Numerous advantages accrue by taking to outsourcing, and there are multiple reasons for doing it as well. But, some important aspects need to be taken into consideration if you’re thinking of outsourcing the bookkeeping functions.

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One has to go for the reputation of the bookkeeping firm. Check out details like ‘How long has it been operating in the financial business field’, How many satisfied clients do they have under their belt’, Are they in a position to give some notable references for public review’ and things like that. Word of mouth referrals from other business owners that are operating in a field similar to yours is really important. The experience and reliability of the bookkeeping firm can be a deciding factor in choosing a particular Company for your bookkeeping needs. Also, check whether they have been associated with Companies such as yours and that operating in similar industries. This is because, small or large, every business demands specific domain knowledge. When the question regarding the credentials of the bookkeepers at the service provider Company arises, one needs to ask different questions of the sorts including the persons who will be working with them on a particular assignment and their bookkeeping staffs’ credentials and qualifications. One should check out these bookkeepers’ background information in order to confirm their trustworthiness in their past dealings.

Also consider the rates they charge for different bookkeeping services, the assortment of services that are on offer, whether the services include payroll processing, state and federal taxes, its preparation and payments, financial reports and forecast reports. Go through the finer details, specifically the kind of services offered in each of their bookkeeping packages and whether they will complete the tasks online whenever needed.

Some other questions are the following. Are their finance people familiar with the taxation aspects in the country? Will the bookkeeping Company represent you in case of a quick financial audit? Regarding the tax auditing part of the business, will they carry out the whole paperwork and prepare documents that you require? Does the bookkeeping Company possess the know-how to supply you with enough support if necessary? Sometimes, each of the states in a country may have a different set of laws related to taxation. So, make it a point to choose a bookkeeping company that possess high familiarity with the tasks and substantial expertise with the tax rules and regulations of a particular state.

Article Source: http://EzineArticles.com/expert/Vish_K_S/344758
Article Source: http://EzineArticles.com/3445553

– See more at: http://acallresources.com/blog/average-cost-of-bookkeeping-services-for-small-business-by-vish-k-s/#sthash.neZmqvLh.dpuf


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Bookkeeping Services Near Me – How To Choose Right Services By Loretta V Smith

Many businesses want to hire bookkeepers to perform regular tasks. Budgets are stretched for some businesses and they are unable to hire full time workers for certain positions. These are businesses without accountants or bookkeepers. Fortunately, there are companies that offer these services.

The price ranges for these services vary. This is one of the important considerations for businesses to pay. Most often it is cheaper to hire for these services than to take on another permanent employee. This draws many businesses to these types of services. The economic benefits of this work will help you to save money.

You have more options with a bookkeeping company. These companies provide customers with a selection of services. Many of the work provided is specific to the type of business that you do. It doesn’t matter, whether you have a clothing store or a medical supply store. You can benefit from these services. They offer you a hassle-free way to conduct business. The time and money that you save can be reapplied to your business.

Cities around the country have a range of bookkeeping services. These companies perform a list of critical services. AWS Bookkeeping is an example of the companies in this category. Depending on the size of your businesses, your needs may be specific. It is important to consider which services are paramount to your business. Here are some of the typical services

Prepare business taxes

Throughout the year it is important to keep track of business taxes. Businesses often hire accountants to perform these tasks. It is possible find a more economic method of tracking business taxes. Bookkeeping services include tax maintenance and preparation. The most qualified companies also offer these services. Instead of hiring an accountant one time per year, bookkeepers are convenient. They will be more familiar with your tax scenario.

Employee payrolls

The payroll responsibilities of a business can require a lot of time. Studies have shown that business spend a significant amount of their time each week just preparing paperwork. There are individual components that factor into payroll. Having experienced workers prepare payroll work can save a lot of time. The amount of employees that you have will factor into this work. Small businesses may not find bookkeepers worth the cost. Larger businesses will quickly realize how beneficial these companies are to your productivity.


Homeowners’ association needs

Communities around the country have homeowners’ associations. There are many different financial responsibilities that factor into this work. Large communities are sometimes able to hire accountants for this work. Small and medium subdivisions look for more economic ways to get these tasks done. Bookkeepers are great alternatives in this category.

Large bookkeeping companies provide customers with many choice selections. It is possible to select more than one of these services and still save money. This is a benefit to your bottom line over time. You can hire these professionals on a weekly, monthly, or a yearly basis. Here is another way that your budget is considered.


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How can i be successful in life – Advanced of Rich Dream 1031 Exchange Strategies



How can i be successful in life – Imrpove Cash With Financial Ratios Analysis 17 – Working Capital |A&C



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