answersLogoWhite

0

You need good financial records so that you know the price you paid for the stock when you bought it. Otherwise, you don't have firm figures to work out the taxable income or to back up the numbers you come up with. Estimates don't really work--maybe if you pay too much in taxes, you won't get dinged. But, since you are in a business to make money, that doesn't make much sense.

User Avatar

Wiki User

16y ago

What else can I help you with?

Continue Learning about Accounting

If you are a corporation what name do you put on a W9 form?

If you are a corporation, you should enter the legal name of your corporation as it appears on your articles of incorporation or other official documents. This ensures that the IRS can accurately identify your business for tax purposes. Additionally, you should check the box indicating that you are a corporation in the appropriate section of the W-9 form.


Should a treasurer of nonprofit corporation receive bank statements?

Yes, a treasurer of a nonprofit corporation should receive bank statements as part of their responsibilities for overseeing the organization's finances. Access to these statements enables the treasurer to monitor cash flow, ensure accurate record-keeping, and identify any discrepancies or unauthorized transactions. This transparency is essential for maintaining financial integrity and accountability within the organization.


What sort code is 406409?

Sort code 406409 is associated with a bank in the UK, specifically linked to the TSB Bank. Sort codes are used to identify specific branches of banks for processing payments and transfers. If you need more detailed information about the specific branch or services, it's best to contact the bank directly.


What is the Swift code for ASB Bank Christchurch?

The SWIFT code for ASB Bank in Christchurch, New Zealand, is ASBBNZ2A. This code is used for international money transfers to identify ASB Bank specifically. Always verify with the bank or official sources for the most accurate and current information before conducting any transactions.


What is BIC code for Sumitomo Mitsui Banking Co for Tenmabashi branch?

The BIC (Bank Identifier Code) for Sumitomo Mitsui Banking Co., specifically for the Tenmabashi branch, is SMBCJPJT. This code is used for international transactions to identify the bank and branch involved. If you require further details, it's advisable to verify with the bank directly or through official banking resources.

Related Questions

How does a person identify a professional image in healthcare?

Identify a professional image


How can a decision maker identify strategic factors in a corporation's external environment?

NbvmjbkjbvHow can a decision-maker identify strategic factors in a corporation’s external international environment?


How can a decision maker identify strategic factors in the corporation's external environment?

NbvmjbkjbvHow can a decision-maker identify strategic factors in a corporation’s external international environment?


How can a decision maker identify strategic factors in a corporation external environment?

NbvmjbkjbvHow can a decision-maker identify strategic factors in a corporation’s external international environment?


Identify Professional and parental interventions for mental retardation?

Identify professional and parental interventions children


Identify two lenders that Target Corporation uses?

hype


What is the goal of a professional development plan?

The purpose of a professional development plan is to identify specific learning goals and a provide a structure. With the help of a professional development plan, the employee supervisor can identify areas needing improvement or growth.


What is the significance of the calculated personality type in understanding an individual's behavior and preferences?

Understanding an individual's calculated personality type can provide insights into their behavior and preferences. It can help identify their strengths, weaknesses, and how they interact with others. This knowledge can be valuable in personal and professional relationships, as well as in personal development and decision-making.


Identify at least three sources of professional values and ethics?

Professional codes of ethics established by professional organizations or regulatory bodies. Legal regulations and requirements governing professional conduct in the industry. Organizational policies and procedures that outline expected behavior and conduct for employees.


How do you identify the sex of your rabbit?

Please refer to this link for a professional answer:How_can_you_tell_if_your_rabbit_is_a_boy_or_girlThank you,Animalexpert40


Swot analysis of jollibee food corporation?

A SWOT analysis of Jolibee Food Corporation will help identify strengths, weakness, opportunities, and threats. It is a highly useful tool for management to evaluate the overall standing and potential for the business.


What two jobs should a title do?

It is hard to discern from the question exactly whose title you mean (an individual or a corporation) but we'll say that, in general, a title should:identify the function of the body that the title is applied to - be that an individual or corporation.confer and identify a person's responsibilities when applied to an individualuniquely identify a corporation apart from their competitors in a given market