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Thread ID: 45905	2004-06-07 00:10:00	OT: Accounting problem small business	Nigel Thomson (629)	Press F1

Post ID	Timestamp	Content	User
242307	2004-06-08 23:59:00	Thanks Winston, thats pretty much what i have opted to do, If you don't mind me asking whereabouts did you find the information as I have had major problems finding this type of stuff tried finding "accounting forums" etc and small business accounting guides but had very little luck with anything relevant. OK I do have more questions, if the company reregisters domain names for it's clients and charges them cost price i.e no profit is made how is this shown in the books (is it treated as a normal transaction) and does this mean that the company is in effect making a loss on this type of transaction anyway I'm off to the local library to get a book on this type of thing hmm I wonder if they have the "complete idiots guide to small business accounting" Thanks Nigel	Nigel Thomson (629)
242308	2004-06-09 00:06:00	Normally , for a situation like that, is that the cost will equal the income . Therefor you will have no profit, so therefor no Tax. But it must be recordered on the books for IRD, to find an income-cost relationship.	Pheonix (280)
242309	2004-06-09 02:32:00	Yep, I agree with Phoenix. However nothing done by a business is without cost. Rent, printer ink, ISP charges etc all carry on when work is done for no profit. In fact the work incurs a loss. Nevertheless supermarkets do this with "specials "to get you in the door. I'm a bit worried that what you describe might be a taxable supply if the re-registration is in NZ. Just a thought. My source was my friendly accountant at Ward Wilson. The phone and who you know beats the internet hands down. Try Venture Southland for advice. Tell them you are working with a business which is bringing in $US and they'll be all over you with enthusiasm. You might need an accountants advice. Try not to get steered to one of the big firms. There are plenty of single accountants who will be happy to help. It might cost a few $ but once you are confident, you can carry on by yourself. Its cheaper to get advice at the beginning rather than when things go wrong. Cheers Winston001 Cheers Winston	Winston001 (3612)
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