The Small Business Tax Help Blog

CNBC- Small Biz Feels The Pain- July 2009

Question: How to change from accounting and become an investment advisor?

HI,

I have been in accounting for 2 and a half years now, and I do public accounting, so I see a lot of clients like dentists, doctors, CEO’s & lots of small business owners when it comes to personal tax season. Due to the recession, I got laid off from the firm and joined another firm, which the working condition is quite horrible. Meanwhile, I want to become an investment advisor with companies that they call themselves XXX capital partners. I have no idea how to write a cover letter and resume for an Investment Advisor position, because all of my resumes are very accounting oriented. I believe the position could be sale oriented. I am to the point that I choose unemployment than stay at my current accounting firm.

PS. I will be getting an accounting designation and become a professional accountant in December 2009.

I appreciate all guidance in advance.

Answer: For CANADA Only:
Canada Overhauls Its Dealer and Adviser Registration/Exemption Rules

http://www.uslaw.com/library/Corporate_&_Securities_Law/Canada_Overhauls_Dealer_Adviser_RegistrationExemption_Rules.php?item=80707

Register in Canada

http://www.securities-administrators.ca/

For USA Only:

http://answers.yahoo.com/question/index?qid=20090517195043AA7IAtY&r=w#BaN_M2D0AnhGUqjJm65y

You prob want to become an RIA – Registered Investment Advisor – RIA (USA)

http://www.investopedia.com/terms/r/ria.asp

How To Register as an Investment Adviser (SEC) (USA)

http://www.sec.gov/divisions/investment/iaregulation/regia.htm

“Business Tax CPA” Need IRS Assistance With Business Tax?

Question: Should GE take some of their $10.8 B in international profit and pay back some of the bailout money?

And because of losses in the US, they paid no taxes for 2009.

“GE had plenty of earnings last year — just not in the United States. For tax purposes, the company’s U.S. operations lost $408 million, while its international businesses netted a $10.8 billion profit.

That left GE (GE, Fortune 500) with no U.S. profit left for Uncle Sam to tax. Corporations typically face a 35% federal income tax on their earnings. Thanks to its deductions and adjustments, GE reported an actual U.S. federal income tax rate of negative 10.5%. It got to add a “tax benefit” of $1.1 billion back into its reported earnings.”

http://money.cnn.com/2010/04/16/news/companies/ge_7000_tax_returns/index.htm?cnn=yes&hpt=T2

Regarding the GE Bailout: http://www.washingtonpost.com/wp-dyn/content/article/2009/06/28/AR2009062802955.html?hpid=topnews&sid=ST2009062803183

Answer: I agree.

GE paid no taxes.
Exxon paid NO taxes

It’s like a sick joke is being played on every tax paying American.

179SUVFinancing.mp4

Budget 2011-2012 Part3{Royal News Coverege}

Question: Can I establish credit under my EIN Or Tin Number?

Can I use my EIN Or Tin Number to establish credit instead of using my social security number? How do I go about doing so? reason being, my credit under my social security number is really bad and i am starting over.

Answer: You can establish credit under a corporate tax ID number but it will do nothing to restore your personal credit. It is not a wise move unless you are the company owner.

If you worked for me and I found out you’d established what amounts to personal credit with a corporate account – you’d have neither credit nor a job.

If your consumer credit is so bad – perhaps credit is not a good thing for you? Have you sought counseling?

Corporate ID theft is something that is CERTAINLY on the watchdog list – and ID fraud (which using corporate credit for personal means would be) is something you might want to consider.

So, of course you can.

But should you?

Grundeinkommen – ein Kulturimpuls