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What else can I help you with?
Is it legal to transfer funds from business to personal account?
It is legal as long as both accounts belong to the same person/company. If the owner of a company transfers cash from his business account to his business account it is legal. But, if his Personal Assistant does it from her boss's business account to her personal account, it is illegal.
What are the six main areas of business operations that the government regulates?
What are the six main areas of business operations that the government regulates? As a sole proprietor or a partner, the income your business earns is considered your personal income. As a result, the business income is taxed at your personal tax rate. It is doubled when you are a self-employed business owner because you are considered both employer and employee. It is different for a corporation because you pay personal income tax based on the salary you earn and other income derived from the business. In addition, the shareholders pay personal income tax on salaries or dividends. There are severe penalties for failure to file and pay income taxes.
If a person has a judgment against them personally can their business account be garnished or just their personal account?
If a person has a judgment against them, both their personal and business accounts can potentially be garnished, depending on the legal structure of the business and local laws. If the business is a sole proprietorship, the personal and business assets are often considered the same, making both accounts vulnerable. However, if the business is a separate legal entity, like an LLC or corporation, only the individual's personal assets would typically be at risk, leaving the business assets protected. It's advisable to consult with a legal professional to understand the specifics in any given situation.
what is Tax on proprietary firm?
A proprietary firm is typically a sole proprietorship, meaning it is owned and operated by a single individual. The income generated by the firm is taxed as personal income for the owner, subject to the applicable income tax rates in their jurisdiction. This means the owner reports the business's profits on their personal tax return, and taxes are levied on the total income, including both business and personal earnings. Additionally, the owner may be responsible for self-employment taxes, depending on local regulations.
Can one check ones business checking account online?
"Most banks and lending institutions offer online access to both personal and business accounts. Additionally many banks offer phone services where you can call in and get basic account information.
What are some free email providers?
I recommend both Gmail and Hotmail. I personally prefer Hotmail, because you can set up a main account, for personal reasons, and then add an alias for that account for business purposes.
What do all banks offer?
All banks offer a place to hold money in either a checking or savings account. This offer is available for both personal and business use.
What services are available on MyAccount Chase?
You can check your Chase debit account balance, transaction history, change your PIN, and contact customer service on My Account Chase. The service is available in both English and Spanish.
Can your bank take money out of your personal savings account to cover a loan that was given to your business without permission?
Maybe so. Look at the account agreement for your savings account and the promissory note for your loan. Both documents probably provide for a Right of Setoff. That means that the Bank has the right to take money from your deposit account to cover a delinquent loan account. Whether the bank can setoff a business loan from a personal deposit depends on other factors such as the type of business organization, whether you signed a guaranty agreement, the name of the borrower compared to the name of the depositor.
Does Chase offer both personal and business credit cards?
As a chase customer I can honestly say yes they do offer both personal & business credit cards and they have a wide variety of personal and business credit cards some have rewards and other special perks.
A rapid rise in profits relative to other types of income would affect?
Both the functional and personal distributions of income
Why capital and equity account have a credit balance?
Because they are both income. Capital and equity are sums of money deposited into an account. They are not withdrawals.
