Re: [GNC] Gift of stock

The US allows gifts to go untaxed within certain limits. Capital gains can get interesting as well. If you're not certain, talk to your accountant. On Tue, Jan 24, 2023, 6:48 PM Liz Dodd wrote: > On Wed, 25 Jan 2023 10:34:51 +1100 > flywire wrote: > > > I doubt your jurisdiction is that

Re: [GNC] Gift of stock

On Wed, 25 Jan 2023 10:34:51 +1100 flywire wrote: > I doubt your jurisdiction is that naive. I'd expect you'd pay tax on > the $25k capital gain on disposal and your son would have a $30k > basis price. I agree, you gave your son the equivalent of $30K, and you get to pay tax on the capital

[GNC] Gift of stock

I doubt your jurisdiction is that naive. I'd expect you'd pay tax on the $25k capital gain on disposal and your son would have a $30k basis price. ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to

[GNC] Start up cost in GnuCash

Common advice is don't mix personal and business bank accounts but almost everyone does with personal tax. You could do what you want with a business account under each top-level account or bank account then report against those accounts but it would be fiddly. It is a classic class issue, ie one

[GNC] Gift of stock

Suppose, several years ago, I bought 100 shares of a stock for $5,000. Now, I give these 100 shares to my son and they are now worth $30,000. It seems to me that I need to show: Expenses:Gifts$30,000 That is the amount of wealth that I no longer have. Also, that is the amount that goes on

Re: [GNC] Start up cost in GnuCash

Taneisha and Joel, One way to track this would be to setup a dummy bank account for your personal bank account for the business and a dummy liability account for your personal credit card within your Gnucash accounts for the business. Keep these separate from the GnuCash account corresponding

Re: [GNC] Start up cost in GnuCash

Congrats on your new business, without going into the norms, from the accounting perspective following is an option Create an accounts payable account say Personal Credit Card Dr Expenses:office supplies Cr Ac Payabale: Personal Credit Card Once your business pays back to you or credit card

Re: [GNC] Is there any way to find all outstanding bills?

On Tue, 24 Jan 2023 at 09:15, Geert Janssens wrote: > Most likely you have created payments and bills independently of each > other and never linked them. In that case your balances show 0, but the > gnucash business logic doesn't know the bill is actually paid. > > There are a few ways to solve

Re: [GNC] Start up cost in GnuCash

This is a discussion you need to have with your CPA.  Involved are the following questions: 1.  Is this a sole proprietorship?  Partnership?  LLC?  Corporation? 2.  If a sole proprietorship, will the accounting be done in your personal books?  Or do you need a separate set of books for the

[GNC] Start up cost in GnuCash

Hello Gnucash, We are trying to figure out how to enter into gnucash the initial expenses or startup cost for the business we have been putting on our personal credit card to start this new business. Thank you in advance for your help. Taneshia and Joel

Re: [GNC] Entering Dividend Confusion

I refer the following page and have been able to enter without any problems. https://www.gnucash.org/docs/v4/C/gnucash-guide/invest-dividends1.html 9.8. Dividends - GnuCash If the dividend is presented as cash, you should

Re: [GNC] Is there any way to find all outstanding bills?

Most likely you have created payments and bills independently of each other and never linked them. In that case your balances show 0, but the gnucash business logic doesn't know the bill is actually paid. There are a few ways to solve this. I propose to try this: * Open