What is a "rounding fee" on a restaurant bill?
We went out to lunch, and within the detail of our bill was an item labeled "rounding fee". It raise the bill .03 cents to the nearest nickel. Is this legal? can restaurants catch away with this? AND it be before taxes......Answers:
It's usually the practice of rounding the public sale price on bill items to achieve a total amount due that eliminate pennies. It's a feature on particular point of sale computer softwares for businesses. The point of mart system goes subsidise into the bill and creates a pre-tax charge that is any a debit or credit to the bill (+/-) to result in a bill specifically rounded to the nearest nickel.
Companies that market this fact to restaurants and other high volume businesses convince them that dealing near pennies is costing them thousands of dollars per year in labor. I've researched the numbers, and it's not true. They grossly overestimate the amount of time it take to count out pennies to overstate a dollar amount in stash to the business owner if they purchase this extra feature.
In most states, on most items, this is a court practice. They are basically varying the price of the items you purchase by as much as $.03, up or down, to create a total amount without pennies. In some states, such as Kansas, this practice will violate the liquor codes though. In those states, the decree says that any alcoholic beverage have to remain the same price during an entire business time for every customer that purchases that item. The cost of the item cannot be rounded up or down, even pennies, under any circumstances. The POS companies are also completely oblivious to these laws contained by the states where the law exist.
Brandon O'Dell
O'Dell Consulting
Restaurants/Retail/Bars
http://www.bodellconsulting.com
Other Answers:
Seriously? What was the first name and address of the restaurant?
Follow-up. Some Burger Kings were doing this a few years ago and get into trouble for it. I don't remember the details, but I would say unless they notify you before foot either out loud or in print that at hand is a fee, it's unconstitutional. yes it legal
What are the benefits of incorporating yourself?
1) What are the benefits of incorporating yourself?2) Can one continue to work a 9 to 5 undertaking for a company, AS well as incorporating yourself and running a business on the side?
Answers:
1. As previously stated the plus of incorporating yourself is that you protect your personal assets from creditors that the corporation may take on. Additionally corporations are tax at a different tax rate than that of a partnership, controlled liability corporation, or limited liability partnership.
2. Yes you can incorporate yourself if you verbs to work those hours as someone previously stated.
The important article to realize is the cost of incorporating (generally about $15,000). You must folder with the secretary of state, keep hold of board minutes (both previously stated), and have a corporate charter drafted and on report with the secretary of state. If you are looking to incorporated Delaware would be the best state to do it surrounded by. They have the most incentives to incorporate and are especially "business friendly". You must only hold nexis in that state to incoporate here, which is a fancy way of axiom you must do some sort of business there. It's also earth-shattering to remember that while corporation have better marginal rates rates than other types of business' they are also subject to double taxation. That means that the corporation pays taxes on their returns, and the corporation's shareholders pay taxes on their dividends that they receive from the corporation which are remunerated from the earnings that enjoy already been tax once. It's very celebrated to pick the correct business organizational form that best suits you. I would suggest calling a local university and talking to one of the business statute professors there. They are roughly very inclined to help relations with question and can offer excellent direction with your situation.
Other Answers:
1) It primarily eliminate personal liability outside of your business.
2) yes
By incorporatiog, here is expense to get it started, and nearby are rules each State have. But by doing so, you have to cause sure you have a righteous Corporation Laywer who understands your State Laws. You "protect" peronal assets, through incorporating.
And yes, you can work as frequent hours you want, and can have in truth as may corporations you want. But again, remember, "minutes" must be kept, and at least one assembly a year, and you must re-register that Corp. every year with the Secretary Of The State. There is also export tax breaks for Corporations, whereby if you pay dividends, they are deductible from taxes. A right tax accountant, and Corporation Laywer, will guide you. An SS, or LLC are mostly use today for personal corporations, but it depends on respectively individual case.
1. You may have your dreams realize!
Just remember, the differece betweet those who suceed and those who don't..... is that some give up.
2.Yes, you can. But whether you are successful or not is up to you. Hopefully you are also working for a company that will support you contained by this and will be willing to work next to you. Especially when you will need more time for your own business.
Also, you may want to present yourself a timefreame that you are willing to furnish, in hard work to building and establishing your own business. California can be a cruel place for a businesses, but it is possible. Just don't become thousands of dollars in debt, lose adjectives your friends/family, and become someone that you hate. Stay focused, bring back help/advice whenever possible, have well brought-up support, and keep your chin up!
Good Luck!!
Ps. Look into getting a forfeit if money is tight, I have hear of lots of others getting their businesses started that way! ; )
is my levy code correct and am i paying the correct amount?
P60Answers:
P60 is not a tax code, it is the notification you get surrounded by April each year to consent to you know how much you've earned within the previous tax year.
Your due code is 3 digits and a letter.
Other Answers:
The P60 is a journal of how much you have earn and how much tax and ni you own paid. Your due code will be on the P60. The majority of people would hold been on the due code 489L for the last toll year, and this tax year, this increases to 503L. However, unless you tolerate us know what your actual tax code is, we cannot enunciate if it is correct or not.
Source(s):
I do payroll
do i enjoy to repay on taxes on checks that where on earth compensated surrounded by my given name,even thou i salaried my workers near it?
Answers:
if you have a business and recieve checks, next that counts as income on your schedule C. The payments to your workers are expenses on your calendar C so it cancels out.
What gentle of taxes do I enjoy to settle up if I get rid of things on the Internet?
Let's say that I resolve to sell a few possessions (books, collectibles, etc.) online. What considerate of taxes would I be responsible to pay surrounded by that situation?Answers:
depends. if they are personal property, and you didn't sell them for more than you rewarded, it's handled resembling a garage sale, no feed taxes. can't speak for the state. however, if you start doing this as a source of income, the answer changes.
Since when NRI status rule changed.What does the clean rule say.?
PREVIOUSLY IF A PERSON IS NRI FOR TWO CONSECUTIVE YEARS ,THE NEXT SEVEN YEARS HE WAS DEEMED TO BE NRI.BUT NOW ONE HAS
TO BE ATLEST 182 DAYS OUT SIDE INDIA EVERY YEAR TO BE NRI.
SINCE WHEN THIS ACT CAME INTO FORCE.WHICH ACCOUNTING YEAR.
WHICH ASSESSMENT YEAR.
Answers:
I am afraid your observation is not correct.the correct poistion is
An individual is said to be resident contained by India in any previous year, if he-
(a) is contained by India in that year for a extent or periods amounting within all to one hundred and eighty-two days or more;or
(c) have within the four years preceding that year be in India for a spell or periods amounting contained by all to three hundred and sixty-five days or more, is surrounded by India for a period or period amounting in adjectives to sixty days or more in that year.
What is the sale import tax contained by California?
Answers:
If you go on the CA Board of Equalization trellis site (below), you can see rates by each city/county.
Other Answers:
It depends. The state sale tax is 6%. There's a county sale tax that's 1% and there's a local sale tax of .25% for a total of 7.25% But, frequent county and local government's have added their own sale tax. So it vary from county to county and even locality to locality.
i lately moved to a different county. What do i do in the region of city taxes? Do i move about to city vestibule?
Answers:
what city do you live in because is usually added surrounded by on your w-2
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Call your local Sales Tax Office and they are very polite in answering those mode of Questions.They will even do your
calculations for different Counties over the Phone.
Source(s):
personal experience
Do you hold to compensate taxes on a foreign investment?
If I invest in a project overseas, do I hold to declare the profits from the project?Answers:
In general, yes. US rules governing taxation of international business are among the most complex import tax rules in existence. Coincidentally, I've spent the ultimate 30 years learning them.
If you invest surrounded by a business directly as a branch/proprietorship or through a partnership, you will pick up your share of the income just as you would within the United States. You may be entitled to a credit for any foreign income taxes that you pay.
If you invest through a foreign corporation, you may know how to defer income until you receive a dividend or sell your shares. However, near are elaborate rules which surrounded by some cases require you to pay toll on undistributed income of a controlled foreign corporation.
Depending upon the size of the investment, you should get appropriate professional proposal. Remember that free advice is worth of late what you paid for it!
Online classes for financial consulants?
Answers:
http://www.cffp.edu/index.aspx
These guys are probably the best.
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TRY KAPLAN
are NRIs allowed to invest surrounded by PPF every year and wht is the max they can invest?
Answers:
2
What is ModVat?
Vat IncludeAnswers:
MODVAT refers to an excise duty scheme introduced within 1986 for allowing relief to final manufacturer on the excise duty borne by their suppliers for goods manufactured by them. It have now be replaced by the CENVAT scheme.It applies to secure specific items and is meant to target the cascading effect of duty incidence on a little goods where on earth the MODVAT credit can be claimed on the purchase of raw materials on which excise have been rewarded. This MODVAT credit can be used to set off the excise duty payable on subsequent produce of goods.
Other Answers:
MODVAT: refers to an excise duty arrangement introduced in 1986 for allowing nouns to final manufacturers on the excise duty borne by their suppliers for products manufactured by them. It has immediately been replaced by the CENVAT cook up.It applies to certain specific items and is expected to limit the cascade effect of duty incidence on a number of produce where the MODVAT credit can be claimed on the purchase of lightly cooked materials on which excise has be paid. This MODVAT credit can be used to set stale the excise duty payable on subsequent manufacture of commodities.
Source(s):
http://www3.estart.com/india/finance/budgetglossary.html
MODVAT can be understood from following example
Suppose you are businesswoman of FANS. For this you may require to purchase following inputs
Blades
Copper
Wires etc.
When you purchase, these raw materials , you will enjoy to pay excise duties on those items
When , you finally produce FANS, the Govt again interrupt EXCISE duty,so there is double taxation. To overcome such anomaly, the govt framed MODVAT rules lower than which it returns by giving CREDIT to manufacture re ,the excise duty on the natural materials--in this case Bade,Copper , wires etc.
This is modvat rule. That is Govt with the sole purpose taxes the additional importance of the G\manufactured products.
Stying at mumbai surrounded by a rented place, can i buy a home (loan) at my aboriginal place and claim import tax hoard on both?
Native place is where my parents reside, within my case bhubaneswar.Answers:
Under the I T Act, yes you can claim benefit given to an individual if for idea of occupation he can not reside in the home he purchase. You can specifically allowed to have Interest conclusion on loan borrowed.
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its so diffecult luggage because you need so mcuh money to buy hoem and you want to work hard
how tons residential status are at hand within india according to income toll decree ?
3 types in residental status ,one is resident widespread resident , resident not ordinarly resident and not a residentAnswers:
an individual and HUF have three residential status.
these are:-
resident and ordinarily resident
resident but not ordinarily resident
non resident
adjectives other assesee have lone two residential staus
resident and non resident
we are staring a spanking new software company within srilanka. we want capture US Tax ego. can i please know the procedure.?
Answers:
You need to spread out an SS-4 Form from the IRS. I am not sure of foreign laws or rules, but explicitly how you do it. You can also find it on line at www.irs.gov. Usually, American citizens can gain one in more or less 10 minutes. As long as you are okay with the sensitive program and flood in adjectives of the blanks. Check with that or beckon the United State IRS directly at 1-8OO-829-4933, they should be able to answer adjectives of your questions. Don't receive discouraged if you are waiting a long time to get through to an actual human being. Some days are busier than others and I just enjoy to hang up and telephone call back latter. The US tax ID is call and FEIN or and EIN number, meaning a Federal Employer Identification Number. If you plan on doing any business beside the USA, you must have one. You can also hire a US accountant, to acquire this information for you and further look into the international laws. Good luck.
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yes pls try to step on the website for american software and take y registration no surrounded by this website , sorry I dont know the true spilling fot this site but y can to search on yahoo and y will find it lone put us tax self and y will find it