Recent content by Steve-LevelUp

  1. Steve-LevelUp

    Reverse Mergers/Amalgamations

    It depends is the short answer. What was the ownership structure, did the parent own 100% of the subsidiary, or was there a more detailed breakdown. If the parent owned 51% of the subsidiary, and then the subsidiary purchased up to 51% of the parent then the reporting gets very complicated.
  2. Steve-LevelUp

    USA Pre-LLC expenses

    The loan is an easy one. Ensure the loan agreement is documented and clear, including interest, repayment terms, etc. Next, you can create a journal entry. Debit Cash $20,000 Credit Loan Payable $20,000 At the end of every period, you would record the necessary interest expense (eg...
  3. Steve-LevelUp

    UK Directors Loan repayment on death

    I think we can break this down into two parts. 1. Is the loan repayable to the next of kin. 2. Was it a loan or a gift. The first is relatively easy. Spratt Endicott have some references regarding loans to friends, which must be repaid upon death...
  4. Steve-LevelUp


    I cannot state with certainty from a tax law standpoint, but I would view this as prohibited. Unless the member was an employee of the organization and was expecting an employment bonus of some kind, at which time the payment would be employement income. Although I can understand the challenges...
  5. Steve-LevelUp

    USA Accounting for Cemetery sales

    Though I am not familiar with your industry, Quickbooks is flexible and simple enough to cover every kind of potential industry that you may work in. Your industry may have special rules for revenue recognition, but that will not limit your ability to adopt quickbooks into your firm. If you...
  6. Steve-LevelUp

    USA Data Scientist in Accounting

    Although this is just from personal experience, I have not seen Data Scientists working within the accounting field. I have seen Data Scientists working for accountants, preparing models, reports, and analysis that is more about the data itself and less about accounting. An example would be a...
  7. Steve-LevelUp


    Hello. I just realized no one actually responded to you here. There are a few options. If it is specifically quickbooks you are looking to learn, there are a few options. One, is taking a course as you suggested, this will probably give you a good return, but can be pricey. Two, get your own...
  8. Steve-LevelUp

    Plan financial for manufacturing or commercial companies

    Google is your friend:
  9. Steve-LevelUp

    Liquidators in London

    Best to contact firms directly and get quotes.
  10. Steve-LevelUp

    USA Michigan USE tax after 38 years?

    I find that generally if there is no response, it is not that we are not reading it, but rather the individual has nothing to add. So, writing "I don't know" is not very common here. Although this makes it appear that we are not paying attention. Perhaps that is something we can change. If we do...
  11. Steve-LevelUp

    USA Fuel?

    I'm not an expert in the US, but in short, you wouldn't. Because you are taking a standard deduction/reimbursement per mile, this includes all costs, fuel, insurance, repairs, etc. So fuel and insurance would be a 'personal' expense and only the mileage fees would be deductible.
  12. Steve-LevelUp

    Canada Do I need a university degree to take the CPA exam?

    Contacting the local CPA office directly and they can tell you if your specific college is recognized and can help guide you with what you need to qualify for the CPA program.
  13. Steve-LevelUp

    USA Recommendations for 3rd party services

    Sounds like you are looking for an event management firm as the third party, so that would not really be the specialty of this forum.
  14. Steve-LevelUp

    UK Utility bills deducted from salary

    To be fully 'legal' the deduction would need to be done after taxes, rather than before, as the water costs are not a factor of employment and do not actually reduce wages.
  15. Steve-LevelUp

    UK Insurance in Law Output VAT

    I have never heard of a course that specializes in output VAT. There are many income tax courses, but nothing that I know of for just VAT. To me, this seems like a matter of reading the regulations, reading opinion papers. Essentailly, become the internal 'expert' for VAT.