posted on November 7, 2002 01:42:56 AM new
Oh jesus, what now?
Listen zoomin, i didn't read any of what you wrote.
What country am I from? What country are YOU from that you don't know the word "git"? Will wonders never cease at this site? I grow weary, don't waste time posting sh1t to me, thank you i knew you would understand!
posted on November 7, 2002 04:12:55 AM new
of course you didn't read my post, Saffy.
It had actual information in it.
You know, those things called facts that seem to make you weary and call out for Jesus...
*whatever*
posted on November 7, 2002 05:05:30 AM new
Well, back to the topic.... I believe the idea that banks might know what is a business vs. personal transaction comes from a bank's own rules on personal, free accounts. If a large number of transactions ocurr in a personal, free account, you may be reminded of the purpose of the account. This happened to me once and I was asked to open a business account if I was going to have that much activity. I have also seen conditions for some offerings of free accounts here in Florida- basically limiting the # of transactions per month, or charging a fee for those in excess of an allowed #.
posted on November 7, 2002 12:27:43 PM new
Banks as well as other finanacial instituions keep records of ALL finanacial transactions. Some have to be reported.
However, if you get audited by the IRS, all the finanacial records can be requested by the IRS. The bank doesn't determine the specie of the funds. The IRS may accuse you based on these records and then it is up to the taxpayer to prove their innocence.
"Income" from any source whatsoever is taxable, even income from criminal activities.
posted on November 8, 2002 09:13:48 AM new
The bank does keep records of all account activity, but they do not make a habit of reporting it unless they are asked for the info.
Keep accurate records, pay your taxes, and pray that you are detail oriented enough should Uncle Sam come knocking at your door!
Be prepared & thorough, then there is no need to be paranoid
rgrem: I'm in FL, too! Banks charge differently on business accounts ~ usually a per check charge. (business accounts generate more revenue for them)
It may behoove you to file a fictitious name affadavit ($25?) and open a DBA account. (not sure how you are currently transacting!)
BTW, anyone else notice how closely Saffy's inaccurate financial info resembles FLUFFY or is it just me?
posted on November 8, 2002 10:13:44 AM newBTW, anyone else notice how closely Saffy's inaccurate financial info resembles FLUFFY or is it just me?
Whether the posted info is right or wrong the big difference is that one of the posters has an active business on ebay. She has contributed useful information to this forum and has always acted with some class on the boards, even when she is in disagreement with others. There is no mistaking that she is a lady. JMHO
