ruggedmaker2 said:So, who did you buy it from? How is their company registered over there? Are they actual used car dealers, or just some business selling off its own old fleet? We haven't dealt with registered used car dealers before, so I'm flying blind here.
We bought it from a company that was just selling off its own used vehicles, which triggers reverse charge (no special margin scheme involved), plus all that typical mountain of paperwork involving the IRS, DMV... all that stuff. In that case, you go with the standard VAT filing, report the liability, you can't claim input credit, and you list it under the specific section for purchasing passenger cars and transport equipment.
The company is private and deals in both new and used vehicles. We mostly stick to used ones because everything is over 3729 miles. The thing is, we aren't buying these cars for personal use; we’re buying them exclusively to flip for profit. Because of that, I'm thinking we don't have an obligation to file a Form S, right? Just a summary report if we sell it to another company within the European Union.
Does anyone know what this German legal phrase means: "Es handelt sich um eine steuerfreie innergemeinschaftliche Lieferung i.S. des 4 Nr. 1b i.V. mit 6a UStG"? Basically, is this a reverse charge situation where I need to file a VAT return? I'm looking at buying a used passenger car specifically for resale. I'm asking my Swabian contact if this is a standard reverse charge or if it falls under a special margin scheme—honestly, the guy has no clue what I'm even rambling about.
I was just speaking from my own perspective, but I guess the real issue lies with my personality. It’s clearly not how I'm wired—I struggle with that kind of communication even with those closest to me, so I might have misread people a bit too harshly.
I honestly think people who turn every single joke or casual chat into something sexual—where everything either starts or ends with a dirty double entendre—just lack actual eloquence. It’s like they run out of things to talk about in everyday conversation, or maybe they just aren't physically or intellectually engaging enough to hold an interest, so they resort to that instead. At least, that's been my experience quite a bit. 😊
Is it still legal to draft an interest-free loan agreement? I own two different companies, and if I provide a loan from one to the other—where I’m the owner of both—does that count as a transaction between related parties? Specifically, am I required to apply that 5.14% imputed interest rate? 🤔 I’m also a bit lost on the rules regarding the right to carry forward tax losses within a specific tax period.
John Clark6 said:The statute of limitations doesn't actually apply here—since this is based on an enforceable legal instrument (in your specific case, that final judgment for enforcement)—so I’d suggest just heading over to pay the utility company directly. That way, they can finally move forward with pulling that insurance claim...
So, what about those massive court costs and the notary fees? Do those just get deferred until later? And on top of that, I’m going to have to deal with the court to clear my title, and I'm certain I'll be stuck paying off every single one of those liens currently sitting on my property deed
I was wondering if someone could point me in the right direction. I have several liens on my property, all carrying the exact same notation: "Notice of commencement of proceedings for the creation of a security interest via compulsory lien."
What does that actually mean in plain English? And more importantly, is there a statute of limitations on these? They’re all stemming from unpaid utility bills. Now that I've managed to scrape some money together, I want to start paying them off so I can finally clear my title. Who should I be contacting to get this sorted—the utility company itself, or the notary handling the enforcement?
Olivia Cruz86 said:I'm dealing with the exact same headache. My software is pulling depreciation into section 3, "publication in progress," on the P-PPI form, when it's supposed to go into section 4, "waste expenses." So now what am I even supposed to do?
Honestly, I don't think it's a major issue if it stays listed under publication in progress. That is technically what it is. If the folks at the IRS aren't happy about it, they'll just give me a call to fix it.
Can someone please explain what exactly you’re putting in this infamous P-PPI form under the expenses section? Specifically, I’m looking at business meals, travel expenses, non-cash expenses, and then Article 22.
Up until now, I’ve been booking all business entertainment under Article 22 (since that’s how I handled it throughout the year and how my KPIs were calculated), while depreciation went under non-cash expenses.
But now I’m getting tripped up, especially with the distinction between travel expenses and business entertainment... I mean, what the hell are they playing at? I go through the trouble of breaking everything down perfectly just for them to call me and demand a written explanation because they still don't get it.
They’ve dumped so much extra work on accounting firms lately that I’m seriously wondering if some clerk at the IRS finally lost their job, or like, what the hell are they even doing over there?? Now we even have to be the ones auditing small business owners ourselves... honestly, what is wrong with this country? 🐔
They really should be, but obviously they aren't... It’s been an absolute nightmare. I've been trying to get ahold of them since first thing this morning and nobody is picking up. What a total mess.
frozenangler12 said:slatkasol, I honestly can't wrap my head around how that all went down for you 🤷 your best bet is probably just giving NOAA a call and seeing if they can get everything updated on their end
I'm not entirely sure how it looked on their end in the system, but I suspect it was just a minor technical glitch. I'm getting it sorted out today. I just wanted to mention it so everyone else stays aware of this potential error and avoids running into the same thing.🙂
I’ve run into a bit of a headache, and if anyone has dealt with this before, I’d love some advice 🙂. I handle the paperwork for a small local business that has three employees registered through the federal system (basically via Medicare & Medicaid Services), so we manage all the onboarding and offboarding there. I realized the other day that I accidentally selected "corporation" for the insured category instead of "sole proprietor" or "individual taxpayer." It’s a total nightmare because the system actually accepted the filings! Now I’m stuck—is there any way to fix this retroactively? When I try to file the forms online, the system won't let me edit that specific field because it treats it as a permanent status that can't be changed... 😵😠 To make matters worse, one of our employees has been listed under that incorrect category for over a year now. 👎
Can anyone give me a hand here? I'm trying to wrap my head around why engineering services provided to clients outside the USA are exempt from sales tax. Is it based on section 17 or 24? Thanks!
Ethan Bailey18 said:So, here’s the latest interpretation: we’re calculating the foreign services ourselves, listing them under both Section II and Section III. The only catch is that there's no actual payment required. Honestly, even I’m a bit baffled by this one. I could use some clarity here.
I’m actually dealing with the exact same thing. I just report the liability and the withholding tax, but since there's no cash changing hands, it ends up being zero. Haha. I'm home for the evening right now, but once I get back into the office tomorrow, I'll double-check the books. My gut feeling is that the service is taxable here because it falls under production services.
Ethan Bailey18 said:It all comes down to where the service is actually performed: if it happens on US soil and our regulations say it's taxable, you have to report the VAT. if it's done in the US and it's non-taxable, you don't. if it takes place in a third country where it isn't taxable, then you don't either. In my book, you just apply the "place of supply" principle, though you might want to run it by a pro to be certain.😛
Thanks so much, that's incredibly helpful. Since this service was performed locally, we're looking at the standard B2B principle—meaning the place of service is where the recipient is based (which is us). So, I need to account for the sales tax, basically recording both the tax liability and the input credit. That was pretty much how I was picturing it. 😉
Hey everyone, I need a quick gut check on something. I’ve got a service provider based in Mexico invoicing me for a job that's VAT-exempt under their local tax laws—basically, they qualify as a small business taxpayer over there, which is pretty much the same thing as our Section 90 rules back home. Given that, how should I handle the entry? Do I record it with VAT so I can claim the credit, or should I book it as exempt since it doesn't apply? To put it simply: am I required to report any VAT here in the States? Thanks! 😁
I need some advice and a second opinion here. We’re invoicing services to a client in the USA, specifically for production work. The actual shoot took place over in California since that's where they filmed the commercial. On top of our production fee, we’re also pass-through invoicing all the various expenses incurred there. In this scenario, should I be citing the exemption under Section 17?
Oh, please, Google... haha. Honestly, we’ve been dealing with some nightmare invoicing issues with them this year too. It’s probably for the best that they’re citing that specific Council regulation—at least there’s a paper trail if things get confusing. It's such a headache; we're currently stuck in a standoff with partners in Italy, the Czech Republic, and the Netherlands. I'm waiting on a response today after I scanned everything and sent it over to her. The real kicker? Half these people don't even realize we're part of the USA, let alone how integrated our systems are. Some of them act like we're still living in the dark ages.
Quick question regarding payroll: I have an employee whose fixed-term contract expires on October 31st. We’ve already signed a new permanent contract with her starting November 1st. Do I actually need to process a termination filing with the state, or is just submitting the change via the standard update form enough? Also, how should I handle the month codes during payroll processing—should I mark October as the final month of the old term and November as the first month of the new one, or just use the "other months" designation for everything?
ruggedmaker2 said:Don't sweat it. I totally pulled this one back in August 2013. I logged an entire service invoice as a purchase of goods. I didn't even realize my mistake until they came knocking, asking for scanned copies of specific periods 😁 and honestly? No big deal. The auditor just told me to file a corrected sales tax form and we were done. (It was just some tiny amount, maybe around $67).
The real headache for them isn't even the math; it's that we're being such perfectionists about reporting every single acquisition while the other side is barely keeping track.😁
Ugh, tell me about it... I'm not worried, but I’ve noticed that with every single problematic invoice she's asked me to scan, the discrepancy between our books and theirs always seems to stem from shipping costs. Dealing with those guys is the absolute worst; one of them didn't report anything at all. We'll see what happens once the lady from the IRS gets back to me. Thanks!