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 What is the Least Expensive Tax Service Company...my taxes are simple?
(other than doing it oneself)...


 Is it better to file married (joint) or married seperate tax returns if we have 3 dependents!?
...


 Can I get my money back from Argos (UK)?
Hello

I purchased a TomTom One on 23rd July 2008 from Argos and it has now stopped working- It won't even turn on. I paid £99.99 for it.

I still have the box and the ...


 I get paid under the table by my employer. Can I report my income without getting my employer in trouble?
Or is my only option to quit the job if I want to avoid getting in legal trouble myself?...


 Would anyone in the UK like to buy my home in Michigan? ?
it's 5 bedroom and has 5 acers of land. Horse barn, on the edge of a game preserve. Above ground pool, berry patches and fruit trees, totally private and views that won't quit.

...


 Can my fiance file my child on his taxes?
I was wondering if my fiance could claim my child on his taxes? His mother told us we could, but I just want some other answers to make sure. I didn't work this year at all stayed home had a ...


 I don't understand some one help?
i did my taxes on 1/16/2009 and got denied for the RAL because sbbt said ib owe them so they said i should get my refund on 1/30/2009 but the irs said i should get it on 2/3/2009 now the irs says i ...


 Can an adult child be considered a qualifying relative?
If you financially supported your adult child with over $10K, will you qualify for head of household ...


 What are you going to spend you income tax refund on?
Details......


 Can I get tax money from the previous year?
Hello I worked in 2006-2007 and i made around 6,000 each year. I had tax's taking out of my check. But my dad told me not to file my tax's and this year i plan to file. Is there any way I ...


 Got a 1099 form for money my brother gave me?
Hi,
Last summer we were in foreclouser, big time cc debt just no way out. Well i had to swallow my pride and discussed how hot water we were in. my grand father, then my father both now ...


 Any amount gifted by father or grandfather to him son or daughter is taxable or non taxable in India?
...


 I have not got my check yet my last to are 74 it says 6/20 when will i get it?
my son b day is thrusday i need by then will i have it in time?...


 How do you claim a domestic partner on your taxes?

Additional Details
we are engaged, but wont be married for at least a year. he doesnt get medical benefits where he works and i need to put him on mind......


 My friend's W2 has no federal witholding on it?What could be the reason?
He didn't get a federal tax return because they didn't hold anything...why didn't they hold any money?...


 Just got a pizza deliverd and the total cost was 21.28 and been charged 3.72 vat!?
theres no mention on the menu about plus or includeing is this right?...


 WHAT SHOULD I CLAIM ON MY W-4?
I'm single with with 2 kids and one job. No one else can claim me as a dependant. Should I claim myself all year along with my two kids? I am getting conflicting answers. I have claimed myself ...


 I haven't received my second W-2 yet...?
I have my W-2 for my current job. I am filing my taxes on TurboTax.com. I want to go on and submit it without it b/c its taking FOREVER to get my 2nd one. If it comes a little later this week, How ...


 What s happings if i don.t pay tax?
...


 Is it legal for mother and father to each claim a child on taxes?
I was wondering if anyone knows if it's legal for a b/f and g/f who between the two of them have two children ages 5 and 2 ,to each claim 1 child on their taxes to get the EIC. The mother of the ...



ani_kapu
Can anyone answer this question??!!!!?
What about the interest (borrowing) cost specific to a development site which is also qualifying business asset. Can this cost be capitalised during the active development period? In simple words lets say the Cost of the land is £1000, development cost is £5000 and interest on the borrowing (taken for the construction of this asset only) £500. Now i am keen to know what will be the value of teh asset will it be £6,500 (1000+5000+500) or £6,000 and that £500 must be treated as an expenses and charged to the P&L account. Please also expalin what is allowed in IFRS or UK GAAP (if known)?
                     
 




Snakey B
£6k will be capital (£1k cost plus £5k additions) and £500 will go through the P&L. This is the same under UK GAAP (HMRC, you are thinking of GATT!) and IFRS.

I think in the States they are permitted to capitalise the interest. I have one client which is a UK sub of a US group and when we take the figures from the US consolidation sheets in order to prepare the UK stat accounts at company level, we have to put a journal through for the interest to move it from the balance sheet to the profit and loss account.

I would have thought this would be your preferred treatment anyway, at least looking at it from a tax perspective. If you have other profits you can set the interest expense against it as you go along, whereas if it's stuck on the balance sheet you get no deduction until you sell. And with property values doing what they're doing, you might not make a profit on the eventual sale anyway.


Anti theist
Not me


suerye
The £500 will appear in the P&L as an expense and the balance sheet will show the asset value as £6000.
No idea what IFRS means and I thought GAAP was to do with exports?


botygy
I'm sorry that I am not familiar with UK GAAP; but in the colonies, construction period interest must be capitalized.


c25003908
Rating
Not me either.


Summers357
My brain went squishy half way through reading the question!


john2u
i think you could come unstuck ,the interest rate is unstady,and also your expenses are to low,you know what a night out with the boy's and girl's can cost. more than 500


annamariaa127
i think i just blacked out loll lol lol
sorry cant answer i even feel a yawn coming on ha ha ha


marvinmosella
Rating
man i failed my first semester accounting, can't help.


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