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7 votes
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How to enter credit card "statement credits" (e.g. cash back) in double entry accounting?

Per IRS Private Letter Ruling 141607-09 : "The portion of the credit card purchases that Taxpayers can either receive back in cash or request Company to pay to a charity does not constitute gross ...
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  • 328
7 votes

Tax reform bill: Is a section 11042 "consumer rebate" of $3700 legit, or a scam?

Section 11042 of H.R. 1, the 2017 tax bill, is titled: SEC. 11042. LIMITATION ON DEDUCTION FOR STATE AND LOCAL, ETC. TAXES. If you read the language of that section, that is indeed the section ...
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  • 1,324
6 votes
Accepted

Choice between 2 false options in UK Tax rebate form

The tax year ran from 6th April 2014 - 5th April 2015. So it's now past the "start of the new tax year on 6 April", and the second statement seems perfectly correct to me, even if the tenses ...
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5 votes
Accepted

Would parking at a parking lot near or in my residence prevent me from paying for it with my transit FSA?

No, it doesn't look like you can use the employee benefit to pay for parking near your home. The definition for "qualified parking" is in the Internal Revenue Code Section 132 ("Certain ...
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4 votes

Choice between 2 false options in UK Tax rebate form

Your wife stopped working in November 2014. The tax year finished on 5th of April 2015. This form is now useless for you, because it is for people who try to get money back in that tax year, so that ...
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  • 20.9k
3 votes

How to enter credit card "statement credits" (e.g. cash back) in double entry accounting?

As recommended by A.K. I do monitor this as a contra-expense, however I use the 'Expenses:CreditCard:Interest' account for this purpose (in addition to any interest accrual). This helps me see the ...
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  • 1,408
3 votes
Accepted

Is IRS Sec 408 rebate legit?

This is probably a sideways reference to 26 U.S. Code § 408 - Individual retirement accounts, the laws governing IRAs and contributions made under that heading. The rules associated with IRAs are ...
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3 votes

Can I get expired rebate checks reissued or deposited?

Your best bet would be to contact Newegg. A brief search on Google for "Can I cash an expired rebate check?" returned mixed results. Some say that you can't. While others say they have been able to. ...
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  • 10.2k
3 votes

Tax reform bill: Is a section 11042 "consumer rebate" of $3700 legit, or a scam?

The tax code has a choice. If you itemize, you had a choice of taking your state tax or sales tax, but not both. The ad copy is offensive, like some of Motley Fool ads posted here, it has a ...
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3 votes
Accepted

"Notification from Department for Work and Pensions" in tax rebate claim - UK

I suspect they just want to know about any benefit or state pension payments she might have received, and they don't mean that you definitely would have anything, even though the wording does imply ...
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3 votes
Accepted

Making Money on your Tax Return

So, if I understand the investment program here: You have $100 of tax withheld from your salary at the end of Jan, Feb, Mar... until December. This withholding is in excess of the expected tax for ...
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  • 4,254
2 votes

What items are exempt from the VAT? [U.K.]

I'm thinking about visiting the UK and I'm wondering which things are affected by the VAT and which are not. Most consumer goods are subject to VAT at the standard rate. Most food sold in shops is ...
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  • 2,707
2 votes

Why do stores and manufacturers use mail in rebates? A scam, or is there a way to use them effectively?

Not so much a scam, if you fill the required paperwork and actually take time to mail it in assuming it's done correctly; you will get your money. That being said, having a mail-in rebate program is ...
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  • 21
2 votes

Ask rebate in loan repayment

They were kind and let you extend the repayment time on the loan. But that does mean additional interest accumulated during that additional time. You agreed to this; you can't change the contract now. ...
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  • 31.8k
2 votes

Rebates and FSA's

While this question Can I get a rebate after using my HSA? mentions Health savings account the answer is still applicable. Go to the website for the plan administrator. They will either have a form ...
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2 votes

Can I specify lumpsum investment that I have decided to make in this year, but not yet done

I guess you are talking about TDS by your employer. Yes this is possible. Check with your company for details, some require the declaration early and have a defined window for proof of investment.
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  • 56.6k
2 votes

Visiting vacation rental with immediate family

No, you cannot deduct it. There's no business substance in such a trip, it is your vacation, and as such cannot be claimed as an expense against the rental income. You may be able to deduct the ...
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  • 129k
2 votes

What rules govern what a bank must accept for deposit in the US?

Your main recourse is against whoever's issuing you the rebate. They have a legal obligation to cause you to have the money in your account; that third parties are failing to cooperate does not ...
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1 vote
Accepted

What rules govern what a bank must accept for deposit in the US?

The American National Standards Institutes recommends but does not require, banks to use E13B font in magnetic ink. All banks are permitted to refuse checks not printed on the MICR line in magnetic ...
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  • 4,190
1 vote

Can I register even a small solar panel installation with my local renewable energy pool?

Contact the pool and ask. Be prepared to give them exact specs on your panel. Note that you will require an inverter specifically designed to connect safely to the grid, and your local electric ...
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  • 31.8k
1 vote

Visiting vacation rental with immediate family

If you and your wife are owners, your tickets might be a business expense against the rental income. 'Might' as in the IRS will be happy to audit you, seeing the kids went as well and prorating the ...
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1 vote
Accepted

Do I need to earn a specific amount before I can reclaim VAT as a company in the UK?

Source:- Registering for VAT You must register for VAT with HM Revenue and Customs (HMRC) if your business’ VAT taxable turnover is more than £82,000. You can register voluntarily if it’s below this, ...
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  • 10.5k
1 vote

How does an FSA work with rebates?

Generally, you're only supposed to claim from FSA the amounts you actually paid. The rebate reduces the costs, so it should also reduce the amounts you claimed from FSA. That would make the rebate "...
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  • 129k
1 vote
Accepted

How to choose basic health insurance in the Netherlands?

You can check this website: http://www.zorgkeus.nl/ It asks you some basic questions about how much of a deductable you would like, whether or not you would like dental insurance and so on. You ...
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  • 3,632
1 vote

Is the money that you get back from deposits or rebates taxable?

Everything I have read here sounds good except for one small detail. My bank does indeed identify ATM rebates as taxable income. They, in fact, seemed to have begun this practice several years ago ...
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