Can Any 1 Explain me these topics.

jpanhalt

Joined Jan 18, 2008
11,087
Are you talking about a trading company or trading organization (TO)? Are you referring to the technical detail of whether the TO is incorporated?

Specifically, a trading company, say one named Pioneer Trading Company, Inc. can advertise a brand and sell things. Whether a trading organization set up my member companies/states/entities can advertise specific brands depends on the legal structure of the organization. So, to answer your question, you need to say exactly which trading "company" you mean.

In a general sense, I suspect that a TO will not of its own volition advertise specific brands, as it is not in the business of manufacturing, acquiring, or marketing goods; however, it may sell advertising space to entities that do advertise specific brands.

John
 

Thread Starter

R!f@@

Joined Apr 2, 2009
9,918
So tell me...what kinda power will a Income Tax department have.

Can they spy on ur account?
Can they question on ur income?
things like tht..
and do they have the power to take legal actions?
 

loosewire

Joined Apr 25, 2008
1,686
They can do It all,and you are require to report Income,you take the Maldive's
company they advertise to get people to hide ther money there,risky for
Americans, ok for E.U. members. You don,t see many Americans taking cruises
to Male or Maldives. Watch your port for ships and yactchs,see what flag they
fly under,the flag they fly under is the country they pay taxes.
 

Thread Starter

R!f@@

Joined Apr 2, 2009
9,918
Why shud this thread be closed...

I'm just asking things that I don't seem to understand completely..

Most of the things do not add up....which makes me think that I am the stupid one
 

Kermit2

Joined Feb 5, 2010
4,162
It is a sore subject for many people. Estate taxes can destroy small family businesses because they figure the entire value of the business, including land and equipment(most times at exagerated prices) and MUST be paid in cash. The family doesn't have those kinds of cash reserves, so ... bad times for everyone and .

I've said enough.
 

t06afre

Joined May 11, 2009
5,934
So tell me...what kinda power will a Income Tax department have.

Can they spy on ur account?
Can they question on ur income?
things like tht..
and do they have the power to take legal actions?
In order to work a Income Tax department. Must be able to turn you upside down and shake you until they have got the money you owe them. They can spy on your account, to follow how money are flowing in and out. They may indeed question your income. But they will only do so if they suspect you are trying the cheat on them. They will not have such intentions regarding normal taxpayer. It is quite normal that the police use the Income Tax department as a mean to bring criminals out of business or lock them in.
 

loosewire

Joined Apr 25, 2008
1,686
There are to many questions put together here,so many different
subjects to explain and how the laws work.Take one subject at a
time. Do you pay taxes in the Maldives or do you have port tax on
every thing.
 

Thread Starter

R!f@@

Joined Apr 2, 2009
9,918
In order to work a Income Tax department. Must be able to turn you upside down and shake you until they have got the money you owe them. They can spy on your account, to follow how money are flowing in and out. They may indeed question your income. But they will only do so if they suspect you are trying the cheat on them. They will not have such intentions regarding normal taxpayer. It is quite normal that the police use the Income Tax department as a mean to bring criminals out of business or lock them in.
That's good. That law shud be here.

What if the culprits in the white house so to say?
 

shortbus

Joined Sep 30, 2009
10,045
So tell me...what kinda power will a Income Tax department have.

Can they spy on ur account?
Can they question on ur income?
things like tht..
and do they have the power to take legal actions?

Can they spy on ur account? -- They don't have to spy, banks are required to supply the information.


Can they question on ur income?
things like tht.. --- Again companies must supply the information, even if your self-employed you must supply the information. If self employed you must pay taxes on your earnings AND business earnings.

and do they have the power to take legal actions? --- yes.

Is Maldives just now going to implement Income Tax? You have had it good until now :)
 

jpanhalt

Joined Jan 18, 2008
11,087
Income tax collection (in the US, it's the IRS -- Internal Revenue Service) voids any constitutional protections against self incrimination and illegal search you may have had. You are guilty, until you can prove yourself innocent. A trial is unnecessary. The IRS can sequester ALL of your money until you pay up what it thinks you owe. No one has ever fought an IRS claim and then claimed success. On the contrary, those that have "won" on the facts, have been bankrupted proving their innocence. In contrast, if you murder and mutilate four children, the government will protect you from unreasonable search and provide a free attorney, if you need it. It is insidious.

John
 

VoodooMojo

Joined Nov 28, 2009
505
a very touchy subject for many families
the death tax as it has become called, has elderly people at life's end with an inheritance to leave behind contemplating forms of suicide to die before years end to avoid the burden on their loved ones left behind.

sad state of affairs for such a wonderful country.
 

thatoneguy

Joined Feb 19, 2009
6,359
a very touchy subject for many families
the death tax as it has become called, has elderly people at life's end with an inheritance to leave behind contemplating forms of suicide to die before years end to avoid the burden on their loved ones left behind.

sad state of affairs for such a wonderful country.
Yeah, the really bad part about it is it the new 50% rate, and the way "value" is assayed.

Friend of mine has a house, bank values house w/land "Sale Value" at $425,000 (for loan purposes). County values house w/land at $515,000 (for tax purposes).

This is pretty constant everywhere in America right now, and the tax value never seems to be under what the bank value or market value actually are.
 

JoeJester

Joined Apr 26, 2005
4,390
Can they question on ur income?
The short answer is Yes.

Every year, those in the U.S. file an income tax. Alot of income documents (W-2, W-2G, 1099-MISC...etc) are filed by companies to the IRS (the Internal Revenue Service - Tax department as you described) and to the recipents. The IRS has rules on what is income and what is not. For U.S. Income Tax Filers, worldwide income is considered taxible. The tax code is tremendous and alot of people hire tax experts to help them file so they will get the maximum refund they are legally entitled to.

If the IRS disagrees with your figures, they can and do audit you. Recently a congressman, who was chairman of the ways and means committee (they write the tax law), failed to report income from an overseas rental ... he claimed he didn't know. He was censured on the House floor for his misdeeds. I'm sure others who were in the same predictament would have loved to been censured vice paying the back taxes, penalities, and interest.

Tax laws change constantly as the U.S. Congress dickers with them.

Income tax rates are typically start at 15%. Some income is taxed higher, like capital gains is 33%. Inheritance Tax is higher.
 
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