I started an online businees one year ago and at that time I don’t have any money so my relative who was willing to support me and give me the start up money about US$10000 for starting and we both agree that if we make profit, I only take either 50% or maximum US$5000 monthly. And the rest of the profit will T/T wire to him in Japan. How can I report this tax, do I need to pay taxes on the money I wire to this partner, can I claim that is an expense. Please help me. I don’t want to be illegal but I also don’t want to pay too much tax.
I started an online businees one year ago and at that time I don’t have any money so my relative who was willing to support me and give me the start up money about US$10000 for starting and we both agree that if we make profit, I only take either 50% or maximum US$5000 monthly. And the rest of the profit will T/T wire to him in Japan. How can I report this tax, do I need to pay taxes on the money I wire to this partner, can I claim that is an expense. Please help me. I don’t want to be illegal but I also don’t want to pay too much tax.
Could they use it to build sustainible environmentally friendly job creating economies and infastructure? Could they Use Google Maps mapping of all non-profit groups information to do this more and more effectively as they adapt to using it and making the improvements it allows? Could people there use the 200 dollar laptops they would get as part of the program to give them to needy people enable them to access that website as well as the rest of the internet in order to start rebuilding themselves?
Google.org is a for-profit foundation. How is this possible?
Can I start a for-profit organization and have the word “foundation” in it?
I keep searching for-profit on google and yahoo, it keeps coming up with “how to start a non-profit”
Google.org makes sense. It is more flexible with everything in all ways. Essentially, isn’t it a for-profit business with the word “foundation” attached to it and its main purpose is for social returns.
Can someone shed some light on this?
I’m trying to start a for-profit foundation and I want to give away all the money.
its regarding accounting
I am sorry early my question was cut out due to some faults the full question I wanted to ask is below:
In the Profit & Loss statements Sales returns and Purchases returns are separately identified from the recorded sales and purchases. Rationalize the need for such separate classification instead of netting of Returns Inwards against Gross Sales and Returns Outwards against Gross Purchases.