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What does OPEN stand for at American Express?

OPEN at American Express stands fora card that is availed for small businesses and comes with great access features and tools.


Is Prepaid insurance is an asset account?

Prepaid insurance is that amount which is paid in advance for future insurance so until actual insurance facility is availed by company it is an asset of company and if it is for short term or will be availed in current fiscal year then it is current asset otherwise a fixed asset, if some portion is usable in current fiscal year then only that portion will be current asset and remaining will be fixed asset.


How do you do ledger scrutiny?

Ledger Scruitny - Backbone of Statutory AuditStudents who are not aware of the Basics of Audit can Go through the following Link:Auditing - A Beginners GuideSo the point lies How to do Ledger Scrutiny?Capital Head -1. First of all we should check that whether or not there has been any increase in Share Capital of the company, if yes we should ask for the relevant documents comprising of List of Shareholders, How many shares have been issued, At what Price (Face Value) & all the documents relating to the issue should be taken for record purpose.2. If company have made any payment of Interim Dividend to the shareholders, following points should be taken care of -a. During the F.Y whether or not Amount Equivalent to 1% has been transferred to General Reserveb. Whether or not provision for Depreciation has been made during the F.Yc. Deprecation relating to P.Y have been duly chargedd. Don't forget to collect the letter of the Board Sanctioning the Payment of Dividend.Loans -1. First of all check whether or not Board has sanctioned the Loan.2. Check all the relevant documents relating to Loan3. If Loan has been taken from Sister Concern check each & every document relating to loan.4. If it has been taken from Financial Institution check whether or not Interest has been paid regularly.5. Whether or not purpose have been achieved for which loan was taken.6. Whether or not Repayment of Loan is made regularly.Fixed Assets -1. The Purchases made during the Year should be tallied with the original Bills.2. Whether Depreciation have been charged at proper Rate or not3. Whether purchases made during the F.Y have been capitalized or not.4. Fixed assets are properly recorded at cost/valuation.5. The fixed assets physically exist or not.6. Ensure appropriate authority for acquisition.7. For acquisition through tender/quotation, ensure company's policies, procedures and LOA are complied with.Fixed Deposits -1. Reconcile the Amount with F.D Certificates2. Ask for Form 16-A & check whether T.D.S have been correctly deducted by Bank3. Reconcile the TDS Deducted with 26-AS (Credit Statement)4. Collect Form 16-A for your Record.Debtors/ Creditors -1. Analyse Debtors Ageing i.e 2 Months. 3, 6 Months, 1 year etc and accordingly analyse whether or not amount should be written off.2. Check for the payment mode - Cheque or Cash3. Payment is being made regularly or not4. If there are transactions relating to sister concern check the Documents concerned5. If debt is Doubtful you should advice the client to write it off.For Creditors -1. In the creditors have to see that what are the possible reasons, which increase the creditors balance, and what are the reasons for decrease in creditors balance.2. After analyzing the creditors account you can easily understand the above mentioned reason. The reasons are as follows:The reasons for increase in creditors balance are:a. Credit purchaseb. Dishonored of any cheque etc.Now the reasons for the decrease in creditors balance are:a. Cheque paymentb. Cash Paymentsc. Return outwardd. Bills endorsede. Bills accepted etc.3. Whether or not TDS have been deducted while making Payment of creditors4. Whether or not Discount have been Availed from the Creditors5. Whether or not payment have been made at Regular Interval & of not Why?Bank & Cash -1. Reconcile the Balance of each Bank with Balance Confirmation Certificate2. Check Bank Reconciliation Statement (BRS)3. Physical Verification of cash should be made4. Keep the Balance Confirmation Certificate & BRS for record Purpose.


How do you legally escape taxes?

It is impossible to escape taxes because everyone MUST file taxes. Whether you pay out a lot of your own money is a different story. Taxes cannot be avoided, however depending on where you are in the income brackets you may not have to pay a ton of cash to the IRS. Ben Franklin said two things are guarantees in life, death and taxes. Another answer: Ah, at last! A question on WikiAnswers that is WORTHY of being answered! First of all, nothing that is man created is "impossible" to avoid. This is a "polite fiction" that is indulged in by those who lack the interest to find solutions to their "problems". As far as the misinformation given about "everyone MUST file taxes", well, I can only say that the IRS has very specific guidelines about WHO MAY LEGALLY AVOID FILING, and the list is far from trivial! Look it up for yourself and decide what the truth of the matter is! Many presidents have availed themselves of some of the more egregious tax "loopholes" that are designed specifically for those who created the laws. It is NOT up to congress to start a huge educational campaign to show every Tom, Dick and Harry how to avoid paying taxes, otherwise, said congressperson might have to start chipping in and carrying some of the load THEMSELVES, after all... So, the FIRST thing you can do to "legally avoid taxes", is to move to a state that doesn't have STATE INCOME tax. A couple come to mind, Nevada (where the gambling casinos pay the income tax for the rest of the citizens, so that they don't have to), and Texas, where EVERY president in recent memory resides for AT LEAST ONE DAY A YEAR in order to qualify as a "resident". Texans don't pay state income tax. If you were as smart as a president, you'd copy what THEY do, and set yourself up a sweet deal and LIVE IN TEXAS for one day a year. Who knows, perhaps you wouldn't even have to suffer THAT long, check out the rules regarding "residency" for yourself! Next, you want to whack that pesky Federal Income Tax. Who doesn't have to pay any Federal Income Tax? Well, if you work for a job, and make less than $600 per month, you won't have to pay any Federal Income Tax. Why would you want to do a thing like this? Well, how would I know? I am just pointing out what you would need to do. If you have a genius mind, you might find a way to accomplish this and the next few things, without my having to POINT IT OUT TO YOU in black and white. There is a nifty thing called a Roth IRA, that is America's 2nd best kept secret way of avoiding paying income tax LEGALLY! Yep! If you pay income taxes on some income, and then stash some of it in a Roth IRA account, you 1: Don't pay any income taxes on the growth of the investments you make in that account. This is exactly the same treatment as the normal IRA, so it is no big deal, all by itself, but it IS pretty important! 2: You don't pay any income taxes on the withdrawals that you make from this account, as long as it is the money that you put into the account in the first place. That is, you can withdraw your contributions (since you ALREADY paid income tax on them in the first place), without any penalty, interest OR tax, and you may do so at any time that you need or want to! This would be a foolish thing to do, however, but it IS possible! 3: When you reach retirement age (59 1/2), and the account has been open for 5 years, you can WITHDRAW any amount of money (or no amount of money, if you want it all to keep growing, for as long as you are alive, unlike the standard IRA account), AND LEGALLY PAY NO INCOME TAXES! That's right, folks! If you can figure out a way to make a million dollars in your Roth IRA account, you won't have to pay uncle sugar a single, rotten nickel in Income Taxes Legally! Get yourself a "self-directed Roth IRA" so that you can invest in anything legally allowable by the IRS (real estate, notes, the usual junk from a brokerage house or bank, but stick with the things that actually pay you something, and that YOU have control over!), which does NOT include "collectibles", such as Persian rugs, stamps and coins (except for bullion type coins with little numismatic value, think pre '65 USA coins, marked 1964 and earlier and which contained 90% silver), and you can't invest in anything you ever owned or lived in, or that your family ever owned, (with the notable exception of things owned by your brothers and sisters, apparently the IRS thinks that siblings will rat on each other, and they specifically PERMIT you to do this), so always buy stuff from 3rd party strangers, and keep your tax exempt status on your account safe. You DON'T want to lose this over a trifle, such as a "sweetheart deal" your brother will give you on his condo in Florida! Thus, if you have the slightest bit of imagination whatsoever, you now have a 'TAX FREE INVESTMENT ACCOUNT"! Next, there is a lovely provision in the IRS tax code that allows you to receive something called "gifts". You may receive up to $10,000 per person (per year), from ANYBODY and neither you, nor the giver, have to pay any income tax on that money. I don't know about you, but if all you folks reading this decide to follow some advice and all send me a gift of 10 cents each, I'll be rich enough to quit working, AND neither you nor I will have to pay any more Federal income taxes! Leave a note on my message board if you want more details on this or other subjects too long to go into here. Next, we have to deal with the issue of sales taxes. These are commonly escaped, (but not legally), by purchasing things on the Internet. There are currently no laws requiring people in one state to collect sales tax from people OUT OF STATE. So, buy all your goodies from people OUT OF YOUR STATE, and you won't have to pay any sales tax. Now, some places, such as California, actually have a law somewhere that says that you have to declare all purchases made "out of state" and pay your fair share of the sales taxes on them. I've yet to see anybody INCLUDING THE PEOPLE WHO WORK FOR THE BOARD OF EQUALIZATION follow this rule, and if THEY can ignore it, why should YOU be the first one to set a good example? Oregon doesn't charge sales tax. People over the border from Oregon often go for a "holiday" to their friendly neighboring state and purchase things for far less than they can in their "home" state. Is this legal? Of course, there is NO law against traveling and you can hardly be expected to eat nothing but air! Again, your own conscious must dictate whether or not you think paying 10% sales tax to your state government is "the right thing to do" when they can't even balance the budget on time, and waste all the money you've given them to date on stupid mistakes and frivolous social experiments! Now, the issue of property taxes is a bit more difficult, and I don't have all the answers here by a mile. It seems to me that various forms of property are exempt from taxation at the county level if they are owned by a church, and are USED FOR CHURCH SERVICES. So, if you have an intense aversion to paying property taxes, you can go through the work of starting up your own church, (land of religious freedom, remember?), and create your own form of worship worthy of your creator, and if you are so poor that in the beginning that you have to hold worship services in each other's homes (home worship groups are pretty common, actually), you might want to check out what percentage of use qualifies your residence for a property tax exemption in your local county. Don't take the first answer as gospel, as each tax official will be pained to the extreme to think that they are cutting their own throat (and pocketbook) by answering your questions truthfully, and completely, and accurately! Far better to say some negative sounding thing that isn't QUITE an open lie, and have you go away and forget all about LEGALLY AVOIDING PAYING TAXES! Now, as to the MORALITY and PATRIOTIC DUTY of a citizen when LEGALLY AVOIDING PAYING TAXES, allow me to conclude with a quote from a famous judge, who was quite respected in his time. It is HIS opinion (and he was HIRED SPECIFICALLY to give his opinion on law all the time), that: The classic description of tax avoidance was written by Judge Learned Hand in Helvering v. Gregory, 69 F. 2d 809, 810 (2nd Cir, 1934), aff'd 293 U.S. 465 (1935). [A] transaction, otherwise within an exception of the tax law, does not lose its immunity, because it is actuated by a desire to avoid, or, if one choose, to evade, taxation. Any one may so arrange his affairs that his taxes shall be as low as possible; he is not bound to choose that pattern which will best pay the Treasury; here is not even a patriotic duty to increase one's taxes.


Related Questions

When can this availed of probation?

This can availed of anynothing..


What is it correct sentence of 'he availed of leave'?

"he availed leave" is correct


How do you use availed of in a sentence?

No amount of training availed his physical strength.


What is meaninig of availed?

Made available/became receptive. He availed himself of the opportunity.


What is past tense of avail?

Availed, see link: http://conjugator.reverso.net/Conjugation-english-verb-avail%20oneself%20of.html


Can you avail for multi purpose loan even if you still have unpaid calamity loan?

A multi purpose loan is not able to be availed for if a calamity loan is unpaid. The loanist be paid off before another loan can be availed for.


Make a word using these letters a word with these letters A E A I?

face paint acquainted availed


Can calamity loan and pag-ibig multi-purpose loan be availed at the same time?

yes.


What types of consumer complaints can be addressed through the web page?

The web page facilitates the resolution of various consumer complaints, including issues related to product quality, service delivery, billing discrepancies, and misleading advertisements, among others. Consumers can submit complaints pertaining to any goods or services they have purchased or availed of.


How much salary per month will get newly appointed kvs pgt teacher2013?

His or her monthly salary will depend on the negotiation availed.


Where do you get ozone depletion training?

Ozone depletion training can be availed. It can be present at environment friendly organisations. Some NGO's provide it too.


CENVAT credit utilization scheme?

If any manufacturer purchased a material, which is duty paid, and if it is used for his further manufacturing activity, he can avail this as credit in his book based on the Central Excise Invoice.� At the time of selling his manufactured goods, he is liable to pay the excise duty.� He can adjust the credit which he has taken into his book and pay the rest. For example, CENVAT availed at the time purchased various goods is 20,000. CENVAT payable for his product at the time sales�25,000. In complete he will pay only 5000 through cash deposit in PLA.