FindArena > Find Arena > Mobiles

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  #1 ()
bulapyday : I'm just going to top up my WoW subscription on my card but I don't know if I have enough. I'm yet to set up internet banking (I have to do it in branch) and I'm not walking all the way to a cash machine because I have a head cold.

Will it charge me or will it just not work? I'm hoping it's the latter!

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  #2 ()
bulapyday : Depends on you bank. IIRC they will charge you and should you go into the red it will charge you an overdraft fee.
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  #3 ()
csyez028 : the order would have failed or been taken out and onto your overdraft ...if you dont have over draft and the order still gone through you can get charges from your bank between £15-35 :-/
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  #4 ()
csyez029 : Depends if your bank has a overcharge facility, most banks honor a payment allowing your account to go into the red and then charge you silly amounts for going overdrawn some up to £25..its how they make some of there money, your subscription may have just cost you alot more...
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  #5 ()
seaggetroks : Why not just wait to renew it?

Why risk the possibility of overdrawing your bank account? Which we all know can have potentially harsh results.
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  #6 ()
popzqy : I worked for this guy on and off for years on small business jobs, like helping to blog the business, get customers, do a bit of telemarketing, but all from the home. He pays, but in the end, the business fails, even though it is a viable one and one that can make cash. So is that guy setting up businesses for himself just to collect the profit loss on his Schedule C form on taxes. It's happened many times in last 6 years of working for him on and off. He's always there when I am broke, and I work for him from home and he pays me, never once ever reneging on my salary, just all businesses he started or starts FAIL... WHY?
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  #7 ()
xiaozh5p : And why would you worry about the guy and NOT worry about your own business for this situation that you are now in at this time in your life.
I suppose that you have been correctly reporting the amounts and the bartering income that you have been receiving and making out the receipts in your good daily records and reporting the amounts on your correctly completed 1040 income tax return as you are supposed to do and paying your self employment taxes at that time on your NET PROFIT from you schedule C and the SE of your 1040 tax form.
Hope that you find the above enclosed information useful. 10/05/2011
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  #8 ()
roritriagma : To take a loss on a business activity, there has to be a "profit motive." There must be a realistic expectation of profit. There are legitimate situations where a business is not profitable despite honest efforts by the business owner.

If he's taking consistent losses on his Schedule C (Form 1040), he will get audited. Consistent Schedule C losses are darn close to automatic audit, if the amounts are material.

When he gets audited, the first thing they'll do is evaluate whether there was a profit motive. They have a list of 20 questions, experience, hiring business consultants, business plan, business-like books and records. If they determine it's not a real profit motive, the losses will be disallowed and tax will be due. The mechanics are that expenses for a business without a true profit motive are limited to income, net zero.

Have you been reporting your earnings? If not, hold on tight. He's almost certainly been writing off the cost of your labor. If you haven't been reporting it, it's because it hasn't been reported to you on Form 1099-MISC, which also goes to the IRS. One tax rule is that you can't deduct labor costs unless you issue Forms 1099-MISC. The business gets audited, throws out the labor expenses, the business owner cries foul, and the revenue agent says "Issue the 1099's and you'll get the deduction back." So a bunch of 1099's for several calendar years go out to a bunch of people who thought it would never get reported to the IRS, then they have big tax bills for back years.

Otherwise, his tax situation really is none of your business, quite honestly.
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  #9 ()
SicTweree : i bought a verizon iPhone and later found out it had a bad ESN. If i clean it can it be used on verizon again?
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  #10 ()
jiniaSown : Yes, you can use it on Verizon again if the restriction from the ESN is removed.
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