Hi, I am pretty confused about the reimbursements. If a business owner who pays a contractor for regular work, pays a separate check for a reimbursement, does that reimbursement count as the contractor's income? Or the business owner record that reimbursement ...
general question- One resource says US company must charge a customer due to customer's country and it's not a cost for US company or EU customers.Then what is the process after VAT is charged to customers and collected from them?
Does USA use VAT? It says 10% on the web but not sure about its use. what products or services is used for?
what it needs to be done in terms of submitting forms when a customer files for bankruptcy and the owed amount is written off?
Does written off customer balance (bad debt expense in our records) require submitting a form to inform necessary governmental bodies?
LLC (single member) company is having a financial hardship due to pandemic, is not able to meet its obligations and considering to file for bankruptcy. how would it affect the member financially?