AC is doing quite well apparently. http://www.cbc.ca/stories/2003/04/01/aircan030401 Only in the airline industry is bankruptcy a sign of doing "quite well". 
Get with the program, that article is over a year old. Air Canada has since left creditor protection and is projecting an operating profit of almost a quarter billion dollars for the third quarter. http://www.cbc.ca/story/business/national/2004/10/15/aircanada_041015… And technically, Air Canada never did declare bankruptcy. Under Canadian accounting rules, bankruptcy is when a company is beyond hope, and is to be liquidated, akin to US chapter 7. What they did is file a voluntary petition for reorganization under the Companies’ Creditors Arrangement Act, which gives them temporary protection from creditors. Unlike in the US, this is not part of an overall bankruptcy law.
– Hide quoted text — Show quoted text – AC is doing quite well apparently. http://www.cbc.ca/stories/2003/04/01/aircan030401 Only in the airline industry is bankruptcy a sign of doing "quite well". Get with the program, that article is over a year old. Air Canada has since left creditor protection and is projecting an operating profit of almost a quarter billion dollars for the third quarter. http://www.cbc.ca/story/business/national/2004/10/15/aircanada_041015…
James, from the second sentence of that article: "ACE Aviation Holdings Inc. said the operating profit figures do not include reorganization and restructuring charges, which the company said will be "very significant."" From their last quarterly report (August 2004), it seems that they’ve had continued losses: http://micro.newswire.ca/release.cgi?rkey=1208069275&view=13213-0&Sta… To my way of thinking, an airline "that is doing quite well" is one that is able to pay its creditors. There are airlines who meet that criteria. Air Canada isn’t one of them.
– Hide quoted text — Show quoted text – If Aeroflot can be profitable, how come US carriers are losing money left and right ? For the same reasons your beloved Air Canada is in the shitter, JF. AC is doing quite well apparently. http://www.cbc.ca/stories/2003/04/01/aircan030401 Only in the airline industry is bankruptcy a sign of doing "quite well". Silly boy. Only in the airline industry in the US is bankruptcy a sign of doing "quite well".
That’s interesting. I’m not aware of any country where bankruptcy is a sign of doing "quite well".
– Hide quoted text — Show quoted text – AC is doing quite well apparently. http://www.cbc.ca/stories/2003/04/01/aircan030401 Only in the airline industry is bankruptcy a sign of doing "quite well". AC emerged from bankrupcy a few weeks ago. Whether it has made sufficient changes to its operations to raise its efficiency sufficiently is one question. But as of now, it is faily healthy, flush with new cash, new union contracts, order for some 100 baby jets, will outfit its long haul planes with in seat video units and can even afford to put colour on the tail of its planes. (but rest stays letterhead white). While in the USA, most analysts automatically equate legacy carriers with "in or close to bankrupcy", outside the USA, legacy carriers are doing quite well. AC’s bankrupcy was definitely self inflicted. You say that "outside the USA, legacy carriers are doing quite well." Then you say "AC’s bankrupcy was definitely self inflicted." Those are conflicting statements. You’re also wrong when you claim that "outside the USA, legacy carriers are doing quite well." Here are some legacy carriers that are either extinct or soon will be. Alitalia. SAS. Swissair. Sabena. KLM, consumed by Air France.
Oh dear, what a terribly confused post. First you counter a claim that "outside the USA, legacy carriers are doing quite well.", by mentioning some defunct airlines. Fine, if that’s the game you want to play, then Braniff, Pan Am, Eastern. So, that seems completely pointless, but if it makes you feel good, then it has some validity. Airlines come and go, all over the world. It is a healthy sign that brain-dead airlines such as SN and SR were put out of their misery, what a contrast to the slow agonizing demise of some US carriers. I don’t know which is the more pitiful to watch, UA and US or Yasser Arafat. Anyway, you continue your strange post by mentioning KLM and Air France, again as a counter to the claim that "outside the USA, legacy carriers are doing quite well". KLM and Air France are both successful airlines, in world terms, very successful compared to the traditional US carriers. Part of the reason that they are successful is that they are forward-looking, they see how the industry is developing, and have reacted accordingly. This pragmatic approach, on the part of both carriers, has secured their future. KLM has known for some time that there is no long term future for secondary airlines with a global network, it was quite rightly decided that the best outlook was as part of a major carrier group. Air France, of course was only interested in taking on KLM because KL is in a healthy state. It is a perfect example of what airlines should be doing in order to survive, it is an example that the dinosaurs in the US should be imitating. Unfortunately they are stuck in the past, and can’t, or won’t, wake up to changes in the industry. –==++AJC++==–
– Hide quoted text — Show quoted text – AC is doing quite well apparently. http://www.cbc.ca/stories/2003/04/01/aircan030401 Only in the airline industry is bankruptcy a sign of doing "quite well". AC emerged from bankrupcy a few weeks ago. Whether it has made sufficient changes to its operations to raise its efficiency sufficiently is one question. But as of now, it is faily healthy, flush with new cash, new union contracts, order for some 100 baby jets, will outfit its long haul planes with in seat video units and can even afford to put colour on the tail of its planes. (but rest stays letterhead white). While in the USA, most analysts automatically equate legacy carriers with "in or close to bankrupcy", outside the USA, legacy carriers are doing quite well. AC’s bankrupcy was definitely self inflicted.
You say that "outside the USA, legacy carriers are doing quite well." Then you say "AC’s bankrupcy was definitely self inflicted." Those are conflicting statements. You’re also wrong when you claim that "outside the USA, legacy carriers are doing quite well." Here are some legacy carriers that are either extinct or soon will be. Alitalia. SAS. Swissair. Sabena. KLM, consumed by Air France. BA was able to cut 3 billion in costs without requiring bankrupcy. In fact, they cut so much that they were caugh with issuficient staff at LHR to handle growing traffic.
That’s great, JF. I’m glad that BA is able to continue as a business.
Air Canada has since left creditor protection and is projecting an operating profit of almost a quarter billion dollars for the third quarter. http://www.cbc.ca/story/business/national/2004/10/15/aircanada_041015… James, from the second sentence of that article: "ACE Aviation Holdings Inc. said the operating profit figures do not include reorganization and restructuring charges, which the company said will be "very significant.""
Yes, typical of reorganization, but a one-time only charge. From their last quarterly report (August 2004), it seems that they’ve had continued losses: http://micro.newswire.ca/release.cgi?rkey=1208069275&view=13213-0&Sta…
Their projection is for strong operating profits for the third quarter, with month-to-month traffic up almost 8 percent, and costs under control. When all is taken into consideration, they are doing well, unlike US Airways, which is still in trouble even after reorganization, and United, which is still struggling to redefine itself. Even the stock market is happy, with shares in the new holding company steadily rising over the last month. To my way of thinking, an airline "that is doing quite well" is one that is able to pay its creditors. There are airlines who meet that criteria. Air Canada isn’t one of them.
AC is able to pay its creditors after reorg., and traffic is strong. That is why they appear to be doing well. The reorg is history now. Do you still criticize Continental after several reorganizations behind them, now that they appear to be stable?
If Aeroflot can be profitable, how come US carriers are losing money left and right ? Aeroflot Profit Up Despite Fuel Costs November 6, 2004 Russian flag carrier Aeroflot raised net profit by 17.9 percent to USD$119.3 million in the first nine months of 2004, it said on Friday, but noted a substantial rise in costs due to high fuel prices. The company had previously warned ticket sales might fall after bomb attacks brought down two planes belonging to other Russian airlines in August, killing 90 people, but the figures did not reflect any substantial negative effect. The Aeroflot statement did not make it clear what accounting standards the numbers were calculated to, but Interfax news agency said they were to Russian Accounting Standards. State-backed Aeroflot said costs in the period were about USD$1.3 billion — a 22.4 percent rise from the same year-ago period. "An increase in operational work and a 26 percent rise in fuel prices were mainly behind higher costs," it said. Aeroflot said it carried about 5.3 million passengers in January-September, a17.7 percent rise year-on-year. Sales rose about 23 percent to USD$1.4 billion in the period. The statement confirmed earlier media reports that Viktor Ivanov, a close aide toPresident Vladimir Putin, had been elected chairman of Aeroflot’s board ofdirectors.
If Aeroflot can be profitable, how come US carriers are losing money left and right ?
No unions, no expensive foreign oil, no competition, no government regulation, no lawsuits… Matt
If Aeroflot can be profitable, how come US carriers are losing money left and right ? No unions, no expensive foreign oil, no competition, no government regulation, no lawsuits…
Oil is a commodity. Doesn’t the price of domestic oil increase when the worldwide price of oil increases? The Russian oil companies aren’t restricted to selling oil to Russian companies.
If Aeroflot can be profitable, how come US carriers are losing money left and right ?
For the same reasons your beloved Air Canada is in the shitter, JF.
If Aeroflot can be profitable, how come US carriers are losing money left and right ? For the same reasons your beloved Air Canada is in the shitter, JF.
AC is doing quite well apparently.
If Aeroflot can be profitable, how come US carriers are losing money left and right ? For the same reasons your beloved Air Canada is in the shitter, JF. AC is doing quite well apparently.
http://www.cbc.ca/stories/2003/04/01/aircan030401 Only in the airline industry is bankruptcy a sign of doing "quite well".
AC is doing quite well apparently. http://www.cbc.ca/stories/2003/04/01/aircan030401 Only in the airline industry is bankruptcy a sign of doing "quite well".
AC emerged from bankrupcy a few weeks ago. Whether it has made sufficient changes to its operations to raise its efficiency sufficiently is one question. But as of now, it is faily healthy, flush with new cash, new union contracts, order for some 100 baby jets, will outfit its long haul planes with in seat video units and can even afford to put colour on the tail of its planes. (but rest stays letterhead white). While in the USA, most analysts automatically equate legacy carriers with "in or close to bankrupcy", outside the USA, legacy carriers are doing quite well. AC’s bankrupcy was definitely self inflicted. BA was able to cut 3 billion in costs without requiring bankrupcy. In fact, they cut so much that they were caugh with issuficient staff at LHR to handle growing traffic.
– Hide quoted text — Show quoted text – If Aeroflot can be profitable, how come US carriers are losing money left and right ? For the same reasons your beloved Air Canada is in the shitter, JF. AC is doing quite well apparently. http://www.cbc.ca/stories/2003/04/01/aircan030401 Only in the airline industry is bankruptcy a sign of doing "quite well".
Silly boy. Only in the airline industry in the US is bankruptcy a sign of doing "quite well". –==++AJC++==–
you reverse the entry only one. in other words you look at what is referred to the T which is bank on one side and expense account on the other. you redeposit and explain in the subject why you are reversing it.
you reverse the entry only one. in other words you look at what is referred to the T which is bank on one side and expense account on the other. you redeposit and explain in the subject why you are reversing it.
If you are referring to Angela Thornton’s post about a stale-dated check, your response is not in compliance with generally accepted accounting principles as they exist in the United States. Wayne Brasch, CPA, M. S. Taxation
Snowstorm Socks Minnesota, Wisconsin The first major snowstorm of the year has arrived in much of Minnesota and western Wisconsin. KARE 11 Chief Meteorologist Ken Barlow predicted snow, heavy at times would fall throughout the night, then diminish by midday Monday. As the snows exit, some areas could see winds increasing to 20 to 30 miles per hour. Barlow says that a total of ten inches of snow is likely for the Twin Cities Metro area. At least twenty rural school districts have notified KARE that they planned to delay classes Monday. You can read the current list of school closings and delays on the KARE 11 School Alert web page. The Minnesota Department of Transportation is warning that roads and less traveled highways have become very treacherous and slippery. MnDOT is warning drivers to slow down and to allow extra time for planned trips. Metro-area commuters can check traffic conditions at the For current traffic conditions, click on KARE 11 Traffic Scan page, or by watching KARE 11 TV for live updates beginning at 5:00 a.m. The Minnesota Department of Transportation lists out state road conditions on its web site. A map of Wisconsin road conditions is available on the Wisconsin DOT web site. Note: These sites will likely be busy, you may encounter slow loading times. The National Weather Service is advising people to delay long trips. If you must travel, the Service suggests you carry a winter emergency kit in your car. That kit should include: Blankets or sleeping bags, a flashlight with extra batteries, a first aid kit, a knife, high-calorie, non-perishable food, extra clothing to keep dry, an empty can and water-proof matches to melt snow for drinking water, a shovel, windshield scraper and brush, a tow rope, and booster cables. The service also recommends: Keep your gas tank near full to avoid ice in the tank and fuel lines. Try not to travel alone. Let someone know your timetable and primary and alternate routes Let someone know your timetable and primary and alternate routes.
When drivers’ brains get a busy signal By Jane E. Allen Times Staff Writer February 3 2003 We’ve heard the warnings. Whether that cell phone conversation is a simple reminder to pick up milk or the makings of a complex financial deal, when you’re behind the wheel, it detracts from the business at hand. Now researchers are finding out exactly why. The brain can only do so much at once, they say, and as a result, can’t fully process the visual signals. With the visual and auditory signals competing, the driver’s ability to see and react to what’s ahead — even when gazing directly at a car, sign or pedestrian — is diminished. This phenomenon of "inattention blindness," in which the brain doesn’t fully process what the eyes are taking in, helps explain how cell phone conversations distract drivers and contribute to an increasing number of accidents. There are more than 137 million U.S. cellular subscribers, and studies show that the vast majority of them use their phones behind the wheel. "Looking and seeing aren’t one and the same," said University of Utah psychologist David Strayer, who has spent five years studying how cellular phone use interferes with driving. "Just because your eyes are directed at something doesn’t mean you’re processing it. Seeing means paying attention. When you’re not attending to driving, you’re more of a hazard." Strayer and his colleagues previously found that motorists talking on phones were more likely to react sluggishly to traffic signals or to simply miss them. With a conversation diverting their attention from the road, drivers are likelier to be tripped up by sudden events such as a child darting into their path, another car slamming on its brakes or a light change, Strayer said. Many states have considered restricting cell phone use while driving. New York banned the use of hand-held phones by drivers in 2001, but Strayer and his colleagues have found that the impairment occurs equally with hand-held or hands-free models. That suggests the problem lies with the distraction of the conversation, not of holding the phone. The research appears in the March issue of the American Psychological Assn.’s Journal of Experimental Psychology: Applied. Some of the findings also appear in the February/March issue of Injury Insights, published by the nonprofit National Safety Council. The researchers drew their conclusions from several related experiments. They placed 20 college students in a high-tech driving simulator and had them pass numerous billboards while navigating a virtual road. Afterward, they tested the subjects’ recall of the billboards. They had 50% less recall of those billboards they passed while talking on the phone than those they passed while not using the phone. In another experiment, they used video cameras and sophisticated instruments to track the students’ eye movements during virtual drives. Even when the instruments confirmed that the participants were looking directly at objects along the simulated road, those talking on the phone were less likely to remember the objects. The authors noted that although half the participants believed it was tougher to talk and drive than just to drive, few thought their own driving was impaired by casual cell phone conversations, even when the experiment showed otherwise. The problem lies with the distraction of a conversation, not of holding a phone, experts say.
VENTURA COUNTY Low-Income Residents Seek Access to Transit In a two-hour hearing, county transportation panel takes ideas and comments on raising funds and expanding bus service. By Amanda Covarrubias Times Staff Writer February 4 2003 Residents of two low-income communities in Ventura County asked a transportation panel Monday to provide them with bus service to get children to school, parents to work and ailing relatives to health clinics. Speakers from El Rio and Wheeler Canyon were among several groups who suggested ways the Ventura County Transportation Commission could best use state and federal transit money. The two-hour hearing at Camarillo City Hall provided a glimpse into how low-income residents struggle to get from one place to another without cars. "They don’t have the luxury of worrying about traffic or deciding whether to use regular or premium gas," said Jim White, director of transportation and development for Arc Ventura County, a private organization that serves people with disabilities. White was one of about 75 people who attended the hearing, along with several residents of unincorporated El Rio and from a mobile home park in unincorporated Wheeler Canyon. Their testimony will be researched and compiled into a report that commissioners will use to determine funding priorities. Several El Rio residents said bus service in their community is inadequate and does not cover places people need to get to, such as the local gymnasium, Rio Mesa High School and a health clinic. Resident Lizette Trevino said she worries when her teenage daughter and son miss the school bus and have to walk home. "When they miss the bus at school, they need to walk home through Central [Avenue] up to Santa Clara [Avenue]," Trevino said. "If you’ve ever been through those back roads, there’s nothing safe there for them. It’s dangerous out there." Others told the panel that bus riders have to cross heavy traffic at Auto Center Drive and Santa Clara Avenue to get to the nearest bus stop and that one of the drop-off points is a dirt lot that becomes muddy in the rain. "Our kids have a very difficult time getting around," said Nyeland Acres resident Soledad Trevino. "They can’t get involved in after-school programs because the gym is a two-mile walk away. There’s all kinds of things that could be incorporated into a bus line." Across the county in Wheeler Canyon, the 194 residents of a mobile home park between Santa Paula and Ventura do not have any bus service, said Sergio Hernandez, who has lived in the close-knit enclave for three years. "What they’re doing is walking two miles to get to the bus stop and there’s no sidewalks," Hernandez said in Spanish. "Women and children are walking only on paved roads." Resident Beatriz Zizumbo, who owns a car, said neighbors are always asking her to take their children to school if they missed the bus. She said many women are stranded at home all day with young children while their husbands work. She told the board she recently drove a pregnant neighbor who was in labor to a local health clinic. Low-income residents frequently don’t call 911, she said, because they’re unable to pay for an ambulance.
February 5, 2003 Aid to Poor Faces Tighter Scrutiny By ROBERT PEAR WASHINGTON, Feb. 4 – President Bush’s budget proposes new eligibility requirements that would make it more difficult for low-income families to obtain a range of government benefits, from tax credits to school lunches. Arguing that much of the federal money intended for poor people is diverted through error and fraud, the administration wants to require families to supply more proof of their income and living arrangements before they can qualify for aid. Critics, including some local officials, said today that the extra steps would deter eligible poor people from applying for needed assistance. The Bush budget would also replace one of the largest federal housing programs with a block grant to states, which could redirect some of the money away from working poor people in cities. Mr. Bush said he wanted to shift money and responsibility for this and other social welfare programs, including Medicaid, to the states. About half of the 28 million children in the National School Lunch Program receive free meals because they come from low-income families. But John H. Rice, a spokesman for the federal Food and Nutrition Service, said the government had found that the number of students certified for free meals was about 25 percent higher than the number who appeared to be eligible, according to Census Bureau data. The Bush administration wants to require families to produce evidence of their income, like pay stubs or tax returns, to get free school lunches. Now parents report their own income, and a small sample is checked by school officials. When the government tested these tougher requirements in eight school districts last year, there was a 20 percent decline in the number of children approved for free lunches. Many federal, state and local programs use school lunch data to decide who gets billions of dollars in other types of assistance like subsidized child care and health care. In one pilot project, at Oak Park and River Forest High School near Chicago, the number of children approved for free lunches dropped 50 percent. At schools in Morenci, Ariz., the number dropped 36 percent. Diana Gonzalez-Sumpter, the food service director in Morenci, said that parents had made honest mistakes in some cases. A few families, she said, had deliberately understated their income. Ms. Gonzalez-Sumpter said she supported the verification requirements because she had "strong feelings about the stewardship of public funds." But she said that the requirements deterred some eligible people, including immigrants, from applying for benefits. The Bush proposal could impose time-consuming new duties on school employees in large school districts. "It would be a nightmare for us," said Nadine L. Mann, director of operations for the child nutrition programs in East Baton Rouge Parish, La., which serves 44,000 lunches a day to schoolchildren. Barry D. Sackin, vice president of the American School Food Service Association, whose members run feeding programs, said the Bush plan "would turn us into accountants and auditors and take us away from what we should be doing: serving nutritious meals to children." The Treasury Department is equally determined to crack down on what it says are erroneous payments under the earned-income tax credit program, one of the nation’s biggest antipoverty programs. At present, the government estimates, $9.3 billion of the $30 billion paid out each year in tax credits to low-income working families may be a result of fraud or honest errors. In 1999, the Treasury says, 27 percent to 32 percent of claims were paid in error. President Bush is asking Congress for $100 million and 650 new employees to identify potentially erroneous claims in advance, before money is paid out. The Internal Revenue Service has tried such procedures, with people who reapply for the tax credit after having claims denied in prior years. The I.R.S. efforts were harshly criticized by the agency’s own ombudsman and by the General Accounting Office, an investigative arm of Congress. In a report to Congress last month, the ombudsman, Nina E. Olson, the national taxpayer advocate, said that some legitimate claims for the tax credit were "erroneously denied." Moreover, she said, some taxpayers who pressed their claims found themselves in an "endless loop" of audits and delays. Ms. Olson, a tax lawyer, emphasized "how complicated it is for taxpayers and I.R.S. employees to determine eligibility" for the credit. The documentation requirements create a hardship in large cities like New York, where many of the working poor live in rented rooms and pay their rent in cash, Ms. Olson said. The General Accounting Office asked 21 tax examiners at the Internal Revenue Service to evaluate five sets of documents filed in support of applications for the credit. "For none of the 5 scenarios did all 21 examiners agree, and in some cases, the examiners reached widely varying judgments about whether the evidence was sufficient to support a claim," the accounting office said. The block grant proposed by Mr. Bush would replace the nation’s largest rental assistance program, known as Section 8. States would get the money, $13.6 billion a year, which is now allocated to 2,600 local housing authorities. Local officials scorned the plan. "Who needs an extra layer of bureaucracy?" asked Elizabeth C. Morris, chief executive of the San Diego Housing Commission. "States would take 5 percent to 10 percent of the money for administrative costs, so there might be less for low-income families." &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& February 5, 2003 Bush Budget Increases Push to Find Tax Cheats By DAVID CAY JOHNSTON President Bush’s budget would increase by a third or more the number of audits of taxpayers suspected of hiding income received from their businesses, partnerships, investments and offshore accounts. The administration identified five areas to which more resources would be devoted to stem tax cheating: abusive corporate tax shelters, unreported income among higher-income taxpayers, failure by employers to turn over taxes withheld from paychecks or even to withhold them, misuse of trusts and offshore accounts to hide income, and "tax denial" schemes that are based on claims that the tax code does not apply to most Americans. The proposal is a first step toward reversing a long decline in enforcement of the tax laws. It could bring in billions of dollars owed to the government and would also help the states, which rely on Internal Revenue Service enforcement much more than on their own audits. But the proposal for I.R.S. financing falls far short of what Charles O. Rossotti, the last I.R.S. commissioner, said in November that the service needed to enforce the tax laws adequately. Under the Bush plan the I.R.S. would get an additional $133 million for these audits and other law enforcement work in these five areas. Over all the I.R.S. would receive $10.4 billion, a 5.25 percent increase, but still less per tax return, after adjusting for inflation than it got five years ago. Law enforcement, which includes audits, takes up almost 40 percent of the I.R.S. budget. The additional money would "target the real problem areas in a fair and evenhanded manner, restoring confidence in the tax system for hard-working taxpayers," said Pamela Olson, assistant treasury secretary for tax policy. "At the same time the I.R.S. goes after those who cheat," Ms. Olson added, "the I.R.S. must provide better service to law-abiding taxpayers and respect every taxpayer’s rights. It can and it must do both." But according to the formula Mr. Rossotti recommended in his final report to the I.R.S. Oversight Board, the agency would need an overall increase of more than 7 percent, as opposed to the 5.25 percent proposed by President Bush, to start closing the law enforcement gap. Over the last five years, demands on the I.R.S. have grown in several ways. Congress has made the tax code far more complex, while at the same time imposing complicated new procedures to protect the rights of taxpayers. A growing number of promoters now teach people to exploit those procedures to thwart audits and the collection of taxes, according to Mr. Bush’s budget. Congress also ordered better service to cooperative taxpayers. Without extra money to handle these duties, the I.R.S. diverted money from audits, which in turn lowered the risks of cheaters being caught. The Treasury Department did not detail how much of the extra money would be applied to each of the five areas of cheating. It said only that with $133 million more it could increase audits of individuals who make more than $100,000 from 125,000 last year to 166,000 next year, a one-third increase, at a cost of about $3,200 per audit. For some tax dodges the number of audits would increase by more than a third; for others, the figure would be less. The department also proposed tougher rules to make both promoters of tax shelters and the companies that buy them keep more records and make more disclosures. The use of artificial losses in foreign currency transactions to make capital gains vanish is one of the most popular tax dodges. So are corporate transactions that inflate interest deductions. Entrepreneurs who place their business in a trust, because promoters persuaded them that it will make profits immune from taxes, are another area covered by the budget proposal. The extra money would also increase audits of those who buy into the growing number of fraudulent schemes asserting that it is legal to stop paying taxes if one uses a "pure trust," renounces his Social Security number or declares himself a sovereign citizen or a citizen of the state in which he lives (but not the United States). Another fraud, known as the 861 position, asserts that wages paid by American-owned companies are exempt from tax. None of these claims have been upheld by … read more »
Jon Summers, Reporter Binion’s Horseshoe at Center of Federal Investigation (Jan. 29) — Most employees have money taken out of every paycheck to pay for their share of their company’s health insurance plan. But employees at Binion’s Horseshoe say the money they paid into their health insurance plan actually ended up in the hands of the Horseshoe–not the insurance company. Several employees have contacted Eyewitness News saying that when they go to the doctor they’re being turned away because their claims aren’t being paid. The situation has lead to a lot of frustration, anger and now a federal investigation. Sam and Laura Wood say Binion’s Horseshoe is gambling with their health and finances: "I’m paying my part, I’m just waiting on them to pay theirs," said Sam Wood, a Binion’s Horseshoe employee. The Woods say Horseshoe owner Becky Behnen is taking money out of Sam’s paycheck but not paying the insurance company, Mediversal. They claim this has been going on for more than a year. "I called my pediatrician and they hadn’t paid them. [I] called my OBGYN, [and they] hadn’t paid him. Then I started getting bills," said Laura Wood, bills totaling thousands of dollars. In addition, creditors have started calling. "We’re telling them that we’re trying to get the insurance money from the company I work for," said Sam Wood. Several Horseshoe employees say they’re in the same boat. Now the Gaming Control Board and the U.S. Department of Labor are looking into the matter. "Anyone can come in and file a charge. We conduct an investigation of the charges that are filed and we don’t prejudge the charge, we do a thorough investigation and determine if there’s a violation or not," said Stephen Wamser, U.S. Dept. Of Labor: Behnen declined to speak on camera, but admits she’s "fallen behind" on insurance payments. Although she wouldn’t say how far behind or when the problem will be resolved, she says the Horseshoe has fallen on hard times, contradicting what she told Eyewitness News back in October. "No, no the Horseshoe is not having financial problems. I mean the Horseshoe has been here for 50 years, and I think it will be here long after I’m gone," said Becky Behnen, Binion’s Horseshoe. Now she says the economy and competition from California casinos are taking their toll. But the Woods say Behnen’s actions are taking a financial toll on them as they struggle to pay bills they say Binion’s is responsible for paying. The Woods are now speaking to an attorney and plan on filing a suit against the Horseshoe soon. The Department of Labor says the decision on whether to file charges against the Horseshoe should be made by the end of business on Friday. If you’re concerned you may be in a similar situation contact your insurance company and ask them if your account is current. If there is a problem, call the Department of Labor. It’s also a good idea to keep all your records until you’re sure the claim has been paid by your insurance company, because ultimately you will be held responsible for the bill.
THE NATION States’ Budgets ‘Under Siege’ Officials are expecting a shortfall of at least $68.5billion in fiscal 2004. Red ink has forced spending cuts and delays in capital projects. By John J. Goldman Times Staff Writer February 5 2003 NEW YORK — Warning that they see no relief in sight, the nation’s state legislatures said Tuesday that the budget gap facing state governments grew by almost 50% from November to January. "State budgets are under siege. The faltering economy, declines in the stock market, contractions in the manufacturing and high-tech sectors and soaring health costs have combined to undermine the stability of state budgets," said a report prepared by the National Conference of State Legislatures. Facing the mounting gulf between revenue and income, states have delayed capital projects, tapped reserves and cut spending to balance their budgets. Officials in 29 states have imposed across-the-board budget cuts. Stringent measures are expected to continue. The report said the states’ collective budget shortfall in the current fiscal year had climbed to $25.7 billion through January, up from $17.5 billion just two months earlier. The gap for the 2004 fiscal year is currently pegged at $68.5 billion, but the analysis warned of even deeper red ink. "The magnitude of next year’s budget gap is startling," said Angela Monson, a Democratic state senator from Oklahoma who is serving as the president of the conference. "Thirty-three states estimate budget gaps in excess of 5%, with 18 of those facing gaps above 10%. "There is great cause for concern since the deficit numbers continue to grow at an alarming rate." The conference based its report on data from the first six months of the fiscal year that began July 1. Officials in 36 states said budget gaps existed midway through the current fiscal year. In an attempt to reduce the shortfalls, Medicaid spending has been cut in 13 states, outlays for education in 21 and layoffs of state employees have taken place in nine states. Proposals to increase taxes have been made either by the governor or legislators in at least 24 states. Higher taxes on cigarettes are being considered in 14 states, while six states are looking at increasing taxes on sales of alcohol. Among states facing the biggest shortfalls, Alaska has a current projected budget gap of 30%. However, some analysts say that because the state depends heavily on revenue from oil production, the problem could be eased somewhat if the price of oil remains above $30 a barrel. Colorado faces a 13.5% budget gap, caused to a large degree by the loss of 60,000 jobs in the last year. Many of those laid off held positions well above entry level. The result was a drop in personal income tax revenue. On the national level, "we are dealing with multiple years of budget problems," said Corina Eckl, head of the conference’s fiscal program. "The fact the budget gaps are approaching the sizes they are is astounding." She termed "alarming" data in the survey that showed 18 states are looking at gaps that are 10% of their projected budgets for the fiscal year that will begin July 1. Eckl said these states include California at 30%, Arizona at 25%, New York at 24% and New Jersey at 18.5%. Monson, the conference’s president, said many state officials are concerned the proposed 2004 U.S. budget does not meet the cost of some mandated federal programs, including special education and election reform. She said state planners are still waiting for an agreement in the federal budget for the current fiscal year on such issues as welfare reform and homeland security. "There has not been a recovery in the economy to push revenues in the direction they need to go," said Arturo Perez, an analyst at the conference of legislatures, a bipartisan service organization aiding lawmakers.
Storm a few nights ago. A friend took the bus home. He called when he got home to say he had arrived safe and sound. I take a family sized first aid kit with me when travelling otherside the city even on public buses. I also carry a small belt first aid kit in my side bag. I have used it. I haven’t ever need the CPR kit but it is recent addition. My side bag is becoming useful not just for first aid kit with cpr mask but it also now carries a notepad and pens and camera for possible witness to crimes. Also I write all day, on the bus, at school where ever. I also take pictures of my routes just for my schizophrenia symptom of referencing. It is a digital camera. I am a cyborg. I had a PDA where I could read e-mail offline. But I broke it. That’s one thing I would like to carry but can’t a PDA. I can manage a laptop safely but it is too bulky to carry often.
February 6, 2003 Warning on Hitting Debt Ceiling of $6.4 Trillion By CARL HULSE WASHINGTON, Feb. 5 – The Treasury Department warned today that the government would hit its $6.4 trillion debt ceiling around Feb. 20, and it urged Congress to increase the authority to borrow. The request was made as deficit projections have continued to increase. The move is likely to set off a battle, with Democrats’ seizing the opportunity to accuse President Bush and his party of flawed fiscal policy. Congress is still grappling with fiscal issues from last year. The House passed another stopgap spending measure tonight as senior lawmakers said negotiations were progressing on a huge spending bill that would clean up the unfinished business. The new bill, which faces a Senate vote, will keep agencies running through Feb. 20. Members of the Appropriations Committees in the House and Senate said they hoped to wrap up by that date a $391 billion measure that would finally give most agencies a fixed revenue stream for the fiscal year that began on Oct. 1. Military spending bills were the only such measures to pass last year. "We are closing in on this," Representative C. W. Bill Young, the Florida Republican who is chairman of the House Appropriations Committee, said as the House voted tonight. Lawmakers said they were narrowing differences over Medicare payments, farm aid, education and other issues. They said they hoped to keep as low as possible an across-the-board spending cut instituted by the Senate to cover extra initiatives. Senator Ted Stevens, the Alaska Republican who is chairman of the Senate Appropriations Committee, said that if Congress could not complete the overall spending bill by next week, it should just pass a measure financing agencies at the 2002 level through the rest of the year. "Finish it now or forget it," Mr. Stevens said. Such an approach would pose a hardship to agencies that are anticipating increases but would appeal to fiscal conservatives who want to hold down spending. Mr. Young predicted that lawmakers were not going to be happy with the final product. "I don’t think any of us is going to like it," he said.
COMMENTARY Once Again, We’re Being Railroaded By Arianna Huffington Arianna Huffington writes a syndicated column. February 6 2003 Watching freshly minted Treasury Secretary John Snow, a longtime promoter of balanced budgets, hit the Hill this week to flack for the president’s new red-ink-drenched budget, I felt as if I had stumbled across a Richard Simmons infomercial pitching Big Macs. Or Secretary of State Colin Powell shredding the Powell Doctrine in order to sell the war on Iraq to the United Nations. Of course, saying one thing and doing another is a way of life in the Bush administration. Take the president’s outrageous assertion during his State of the Union address that one of the greatest accomplishments of his presidency was "holding corporate criminals to account." He didn’t even burst out laughing. Not only is the president not holding corporate Capones to account, he’s putting them in his Cabinet. Exhibit A is Snow. During his 12-year tenure as chief executive at railroad giant CSX, Snow helped himself to a vast array of corporate indulgences. If CEO perks were pills, Snow would have overdosed. He was paid a king’s ransom — $10.1 million in 2001 alone — for doing a downright lousy job. With Snow at the helm, CSX’s profits shriveled and its stock underperformed its competitors’ by two-thirds since 1991. His reign is a case study in one of the greatest abuses of corporate America — the de-linking of performance and reward. Snow was also the lucky winner of a $24.5-million sweetheart loan from CSX — precisely the kind of insider loan made illegal by Congress last summer. But his good fortune didn’t stop there: CSX eventually forgave the massive loan entirely. Snow also will be rewarded for his mediocre tenure at CSX with an extremely generous pension agreement. No need to worry about his being forced to clip coupons on his $161,200 Cabinet salary — CSX will pay him $2.47 million a year for life. His retirement windfall will be greatly enhanced by a pension accounting scheme that gives him credit for having put in 44 years at the company, even though he’d actually been workin’ on the railroad for only 25. Last year, at a conference on retirement savings, President Bush said: "What’s fair on the top floor should be fair on the shop floor." I guess Snow didn’t get the memo. At the same time that Snow was stitching together his golden parachute, he was cutting the health benefits of newly hired employees and, according to a lawsuit, revoking life insurance benefits for some CSX retirees. This two-track take on retirement benefits is no small matter, because one of Snow’s first tasks as Treasury secretary will be overseeing new pension rules that the Bush administration wants to enact that could lead to a serious loss in benefits for older workers. During his warm-and-cozy confirmation hearing, much was made of the fact that Snow is giving up pay and benefits worth $15 million to, as Sen. Charles Grassley (R-Iowa) put it, "serve the people of the United States of America." I don’t know about you, but the idea of a man with a reported net worth of close to $100 million being forced by government ethics rules to forgo a series of lavish retirement perks — including lifetime country club memberships, annual physical checkups, free rides on the CSX jet and special room rates at the Greenbrier, a company-owned resort in West Virginia — doesn’t exactly put a patriotic lump in my throat. Sorry, Sen. Grassley, but it turns out the only executive task at which Snow truly excelled was ripping off the very same Treasury Department that he now heads. Despite raking in close to a billion dollars in pretax profits since 1998, CSX paid no federal income taxes in three of the last four years. What’s more, thanks to a combination of accounting gimmicks and tax shelters, the company was even able to score a hefty $164 million in tax rebates during that time. Having Snow, a world-class tax dodger and the lamest railroad man since Casey Jones, at the controls of our sputtering economy — the Disorient Express — has all the makings of a world-class train wreck.
The way the politicians, republicans and democrats, rob the Social Security Trust Fund is offensive to me in so many ways. It’s bullshit all this on-budget, off-budget doubletalk. Any one who has ever made a budget knows it’s "money in" and "money out". What Congress is doing amounts to a "cooking of the books," which will make Enron look like a two bit fleacing. Off budget means that Cogress is tapping the Social Security Trust Fund and leaving (worthless) IOU’s in the coffers. What’s worse is taxpayers have to service the interest on these debts and that interest money goes to foreigners and the rich who own the government bonds (IOU’s). The Social Security Trust Fund (and Medicare for that matter) is in a world of hurt and the politicians must be taken to task for their criminal mismanagement of the futures of millions of people. Sometimes I think I don’t really have schizophrenia, just that my life has worked out to be one big symbolic protest, a protest of congress’s Social Security abuses and a passive protest of marijuanna laws. If pot were legalized I would definitely make an attempt at becoming a productive member of society again. Right now I think, fuck it, I ain’t even going to try. I’ll just get my Social Security before its gone. War on drugs, continual raising of the national debt ceiling, war for the sake of war. Politicians, especially the republicans, in no way reflect my views and I will continue to protest silently, symbolically. Jim
Jerasimus wrote. If pot were legalized I would definitely make an attempt at becoming a productive member of society again. Right now I think, fuck it…… Damodara wrote:
Me too Jim. If we were allowed medical marijuana my life would improve immensly. The concept of handlng co-workers and scheduals would change drastically. Certainly if they allowed us an option of Marijuana as medication many would be greatly empowered. Damo
I’d have to get a "THC analyzer/ breath stink of smoke analyzer" in-dash device for my car. <damod…@webtv.net> wrote in message
news:858-3E43CA31-28@storefull-2196.public.lawson.webtv.net – Hide quoted text — Show quoted text -> Jerasimus wrote. > If pot were legalized I would definitely make an attempt at becoming a > productive member of society again. Right now I think, fuck it…… > Damodara wrote: > Me too Jim. If we were allowed medical marijuana my life would improve > immensly. The concept of handlng co-workers and scheduals would change > drastically. Certainly if they allowed us an option of Marijuana as > medication many would be greatly empowered. > Damo
Ive purchased another computer. Im sure I will mess it up in no time flat. So I wont be here for a while probably. Who knows? Will donate these computers to whomever needs them. Just let me know. They are both 300mghz pentium yada yada. But Im going to steal all the SDRAM out of them. When I am back, anyone in the Portland area let me know of MSers needing computers, Im sure I can find some cheap ram to put in them, and they should work fine. (knock on wood) In regard to the NMSS and the investigation… feel free to go to www.sanfransisco.gov.fbi or maybe its www.sanfransisco.fbi.gov ? And report what you have noticed. That’s who is in charge now. Im out of the loop, thank heavens. Isn’t accountability a wonderful concept? Especially concerning accounting, eh? Don’t be shy if you write them. Your letter wont be the first. Rob (back later, or in days, weeks, months? Stay tuned.) i hate computers.
On Wed, 28 Aug 2002 22:23:34 GMT, in alt.support.mult-sclerosis,"Stef Duncan" <robandstef2…@earthlink.net> wrote: >Rob >(back later, or in days, weeks, months? Stay tuned.) i hate computers.
Well, you had better be getting back here! We have a discussion to clear up!! — "Who we are and who we become depends, in part, on whom we love." — "A General Theory Of Love" Thanks, Mom ______________________________________________________________ Glen Appleby gl…@armory.com <HTTP://www.armory.com/~glena/>
Does anyone have any good references to basic accounting sites, thanks. Rob
Does anyone have any good references to basic accounting sites, thanks.
I don’t know about the "good" part, but here goes: http://www.uwasa.fi/~ts/http/http.html#accounting All the best, Timo — Prof. Timo Salmi ftp & http://garbo.uwasa.fi/ archives 193.166.120.5 Department of Accounting and Business Finance ; University of Vaasa Acc. Journals Links http://www.uwasa.fi/~ts/opas/jott/jottjour.html
There is an accounting forum on Compuserve that seems pretty good. Bill Couture
Hi Marianne Welcome to the group! You may also want to subscribe to alt.crafts.professional as well, they regularly talk about the business end of the various crafts businesses. TTUL Gary – Hide quoted text — Show quoted text -i just happened across this newsgroup… i have a bachelor’s in accounting and worked in corporate for 20 years….. now i am doing pottery… i am looking into opening a place … and thinking of non-profit vs profit…. any feedback would be appreciated….you can email direct if you wish thanks in advance — marianne stebenne Pottery Artist http://web.meganet.net/mstebenn/
Hi Again Marianne Now that I understand more of your idea, why don’t you check into the structure that built the group named ‘Junior Achievement’? It is an NPO that revolves around helping kids learn the business and manufacturing world, and oftentimes various crafts become their output. The children develop a business plan, sell stocks for working capital and then they are in business for a season, at the end of the season, they distribute the profits to the shareholders which ends the micro-business program for that season. It was just a thought! TTUL Gary
thanks gary…… funny i was a junior achiever myself… and i advised with them as a college student very few enterprisers made money…… but it was fun all the way around i will check out the ja closest to me…… marianne – Hide quoted text — Show quoted text – Hi Again Marianne Now that I understand more of your idea, why don’t you check into the structure that built the group named ‘Junior Achievement’? It is an NPO that revolves around helping kids learn the business and manufacturing world, and oftentimes various crafts become their output. The children develop a business plan, sell stocks for working capital and then they are in business for a season, at the end of the season, they distribute the profits to the shareholders which ends the micro-business program for that season. It was just a thought! TTUL Gary
AFAIK, cooperatives are not really NPOs. Some of them produce substantial returns for the Patrons. I think they could be viewed as a partnership to take care of some overhead function of a commonly interested group of people that is not adequately taken care of by the free market. You have patronage investment , retentions (partner’s equity) , and taxable patronage dividends (income distributions). However, for what was described, it does sound like it might be a viable way to get a kiln and gallery for a group of artists who could not, individually, afford their own and for which there is no viable commercial alternative. I think there is a boatload of non agricultural cooperatives in Minnesota, San Francisco, and maybe New York City. I would be very suprised if there were not already many artists cooperatives that could serve as a model. I would think that Agricultural cooperatives would be fairly common in Washington State, maybe on the back half?
… Based on your post here and the information in you page, I would agree with Ron to the extent that you should look at the world of non-profits. While going to the library is certainly a viable way to do this, I suspect you can get more information faster by posting to soc.org.nonprofit. Also, you can get
… — * Ronald Lee Todd M.B.A., C.P.A. * * Unemployed for five years, mistake of being an accountant. * * From the Socialist People’s Republic of Kalifornia, * * the Seventh worst state for business, * * Ayn Rand was right *
- Hide quoted text — Show quoted text – thank you jim…… I am not particularly interested in a coop….. i have been a part of a coop and i am not interested in that….. i am looking into being creative…… so i guess i was looking for some brain storming …. i disliked the condo that i owned years ago…..a coop would be the same except business…. I thank you for an least taking the time to review my page…. but my catalogue of experience in business was business…. some from the following : DuPont -Fuji Film, De La Rue( same people who make the presses that make the US currency), Cargill, Charter Oil ( if any are old enough to remember) I am mostly interested in a few having membership….. some of those would be financiers, the member would be paying far more than $50. thank for for the irs page and the other newsgroup… i will check it out… feel free to email me direct if you have experience and want to share info…..or if you happen to come across something…… i am looking at this comig to fruition in early summer next year. marianne stebenne Pottery Artist http://web.meganet.net/mstebenn/
We do brainstorming. The best way to "get the ball rolling" is to make an assertion and invite comments. One word of caution – this is an unmoderated group and it is possible to get more than you want. — Jim Hudspeth, CFE, CPA http://survivalworks.com Washington, USA
An example of what I was talking about: http://www.creativeeyecoop.com/pages/overview.html I found this with a quick www.google.com search There seem to be a lot of artists cooperatives out there, this was the first one I found that described the business structure.
thank you jim…… I am not particularly interested in a coop….. i have been a part of a coop and i am not interested in that….. i am looking into being creative…… so i guess i was looking for some brain storming …. i disliked the condo that i owned years ago…..a coop would be the same except business…. I thank you for an least taking the time to review my page…. but my catalogue of experience in business was business…. some from the following : DuPont -Fuji Film, De La Rue( same people who make the presses that make the US currency), Cargill, Charter Oil ( if any are old enough to remember) I am mostly interested in a few having membership….. some of those would be financiers, the member would be paying far more than $50. thank for for the irs page and the other newsgroup… i will check it out… feel free to email me direct if you have experience and want to share info…..or if you happen to come across something…… i am looking at this comig to fruition in early summer next year. marianne stebenne Pottery Artist http://web.meganet.net/mstebenn/
– Hide quoted text — Show quoted text – Co-ops are a rather specialized area. First thing I would do is go to the library and research Agricultural co-ops, their business structure, accounting, tax, and legal requirements. i am thinking of setting up a cooperative….. where by there would be spaces for pottery artists….. to work on there work… also make a commitment to the community to invest in their children and learning disabled…. just one gas kiln alone is over $10,000…. and that is if i build it myself…. it can run over $50,000 to purchase completely built. the equipment is very cost prohibitive…. pots alone do not always make a business…. a recessionary market can close the business….. thinking of with the teaching and grants that could be received… also by being a non-profit you can obtain surplus equipment from the state …. — i hope this has helped with your question… marianne stebenne Pottery Artist http://web.meganet.net/mstebenn/ Ron, Click on Marianne’s link and look at her profile page. I’m probably reading between the lines a bit, but I think I see a project worth putting a little effort into. Marianne, Based on your post here and the information in you page, I would agree with Ron to the extent that you should look at the world of non-profits. While going to the library is certainly a viable way to do this, I suspect you can get more information faster by posting to soc.org.nonprofit. Also, you can get more information than you can possibly read by going to google (http://www.google.com/) and searching on non-profit. Also, you might want to click on
http://www.irs.gov/forms_pubs/pubs/p557toc.htm – Hide quoted text — Show quoted text – and browse through what the IRS has to say regarding Tax-Exempt Status for Your Organization. Then you will no doubt want to come back here and ask more questions. Best regards, — Jim Hudspeth, CFE, CPA http://survivalworks.com Washington, USA
i just happened across this newsgroup… i have a bachelor’s in accounting and worked in corporate for 20 years….. now i am doing pottery… i am looking into opening a place … and thinking of non-profit vs profit…. any feedback would be appreciated….you can email direct if you wish thanks in advance — marianne stebenne Pottery Artist http://web.meganet.net/mstebenn/
i just happened across this newsgroup… i have a bachelor’s in accounting and worked in corporate for 20 years….. now i am doing pottery… i am looking into opening a place … and thinking of non-profit vs profit…. any feedback would be appreciated….you can email direct if you wish thanks in advance
I don’t understand how you can "do pottery" as a non-profit, or even why you would want to. More information would be helpful. — Jim Hudspeth, CFE, CPA http://survivalworks.com Washington, USA
i am thinking of setting up a cooperative….. where by there would be spaces for pottery artists….. to work on there work… also make a commitment to the community to invest in their children and learning disabled…. just one gas kiln alone is over $10,000…. and that is if i build it myself…. it can run over $50,000 to purchase completely built. the equipment is very cost prohibitive…. pots alone do not always make a business…. a recessionary market can close the business….. thinking of with the teaching and grants that could be received… also by being a non-profit you can obtain surplus equipment from the state …. — i hope this has helped with your question… marianne stebenne Pottery Artist http://web.meganet.net/mstebenn/
– Hide quoted text — Show quoted text – i just happened across this newsgroup… i have a bachelor’s in accounting and worked in corporate for 20 years….. now i am doing pottery… i am looking into opening a place … and thinking of non-profit vs profit…. any feedback would be appreciated….you can email direct if you wish thanks in advance I don’t understand how you can "do pottery" as a non-profit, or even why you would want to. More information would be helpful. — Jim Hudspeth, CFE, CPA http://survivalworks.com Washington, USA
Co-ops are a rather specialized area. First thing I would do is go to the library and research Agricultural co-ops, their business structure, accounting, tax, and legal requirements. – Hide quoted text — Show quoted text – i am thinking of setting up a cooperative….. where by there would be spaces for pottery artists….. to work on there work… also make a commitment to the community to invest in their children and learning disabled…. just one gas kiln alone is over $10,000…. and that is if i build it myself…. it can run over $50,000 to purchase completely built. the equipment is very cost prohibitive…. pots alone do not always make a business…. a recessionary market can close the business….. thinking of with the teaching and grants that could be received… also by being a non-profit you can obtain surplus equipment from the state …. — i hope this has helped with your question… marianne stebenne Pottery Artist http://web.meganet.net/mstebenn/ i just happened across this newsgroup… i have a bachelor’s in accounting and worked in corporate for 20 years….. now i am doing pottery… i am looking into opening a place … and thinking of non-profit vs profit…. any feedback would be appreciated….you can email direct if you wish thanks in advance I don’t understand how you can "do pottery" as a non-profit, or even why you would want to. More information would be helpful. — Jim Hudspeth, CFE, CPA http://survivalworks.com Washington, USA
– * Ronald Lee Todd M.B.A., C.P.A. * * Unemployed for five years, mistake of being an accountant. * * From the Socialist People’s Republic of Kalifornia, * * the Seventh worst state for business, * * Ayn Rand was right *
- Hide quoted text — Show quoted text – Co-ops are a rather specialized area. First thing I would do is go to the library and research Agricultural co-ops, their business structure, accounting, tax, and legal requirements. i am thinking of setting up a cooperative….. where by there would be spaces for pottery artists….. to work on there work… also make a commitment to the community to invest in their children and learning disabled…. just one gas kiln alone is over $10,000…. and that is if i build it myself…. it can run over $50,000 to purchase completely built. the equipment is very cost prohibitive…. pots alone do not always make a business…. a recessionary market can close the business….. thinking of with the teaching and grants that could be received… also by being a non-profit you can obtain surplus equipment from the state …. — i hope this has helped with your question… marianne stebenne Pottery Artist http://web.meganet.net/mstebenn/
Ron, Click on Marianne’s link and look at her profile page. I’m probably reading between the lines a bit, but I think I see a project worth putting a little effort into. Marianne, Based on your post here and the information in you page, I would agree with Ron to the extent that you should look at the world of non-profits. While going to the library is certainly a viable way to do this, I suspect you can get more information faster by posting to soc.org.nonprofit. Also, you can get more information than you can possibly read by going to google (http://www.google.com/) and searching on non-profit. Also, you might want to click on http://www.irs.gov/forms_pubs/pubs/p557toc.htm and browse through what the IRS has to say regarding Tax-Exempt Status for Your Organization. Then you will no doubt want to come back here and ask more questions. Best regards, — Jim Hudspeth, CFE, CPA http://survivalworks.com Washington, USA
Hi Frank – We have two non-modular designed products, called Accware & Accware Online supports point-of-sales, bar code scanners, credit card processing, unlimited products, has a lot of user customizeable features, printouts and reports just to name a few. They both have two versions, one "standard" and one ‘lite" for retail. New lower pricing will be announced by 06-Oct-00 for the retail version. Currently Accware Lite MSRP $249 and Accware Online Lite $459.00 will become ~ $99.00 & ~ $150.00 respectively for 1 user license.
How do I file taxes for an S corp? Do I simply file its expenses and income on my personal return? Or do I take the expenses, subtract it from the income and pay myself via the stock? -Ken Payne Ford Truck Enthusiasts http://www.ford-trucks.com
You must file a separate tax return for the S Corporation, a Form 1120 S. S Corp’s are pass through tax entities, meaning the corporation itself is not taxed, but its net income or loss is passed through to its shareholders, via a Form K-1, who are taxed on their individual (Form 1040) returns. I suggest you hire a tax professional to handle the 1120 S return, as they sometimes do get complicated. Gary Myers CPA
How do I file taxes for an S corp? Do I simply file its expenses and income on my personal return? Or do I take the expenses, subtract it from the income and pay myself via the stock?
You file "S" corporation income and expenses on a Form 1120S. The net income or loss and other selected items of income and deductions will go on a K-1 which will transfer to your individual 1040 (Schedule E). Call the IRS for the 1120S instructions and forms. You may also need Form 4562 for depreciation of assets. — Paul A. Thomas, CPA (Georgia) This advice is general in nature and not meant as specific tax or accounting advice. Because all relevant facts may not have been provided, please seek appropriate professional advice prior to taking any action based on this information.
How do I file taxes for an S corp? Do I simply file its expenses and income on my personal return? Or do I take the expenses, subtract it from the income and pay myself via the stock? -Ken Payne Ford Truck Enthusiasts http://www.ford-trucks.com
Get an accountant. You probably have a state filing (and maybe a city) to do, too. Steve
You will have to file an 1120 S for the federal and probably a similar return for your state. Your salary from the corp shows up on your 1040 under wages and salaries. Any other income the corp makes shows up under dividends on your 1040. You should make sure that the corp has filed an election on time to become an S corp (form 2553). That is due by the 15th day of the third month after which you begin business. If you haven’t done that, the IRS could refuse to except you as an S Corp. My advice is get to an accountant as fast as possible to find out where you stand. — Richard W. Vaccaro, CPA http://www.baranskyvaccaro.com – Hide quoted text — Show quoted text – How do I file taxes for an S corp? Do I simply file its expenses and income on my personal return? Or do I take the expenses, subtract it from the income and pay myself via the stock? -Ken Payne Ford Truck Enthusiasts http://www.ford-trucks.com Get an accountant. You probably have a state filing (and maybe a city) to do, too. Steve
There may also be a separate state S-corp election to file. In addition, there may be payroll filings (both federal and state, and even if you are the only employee), sales tax filings, state registration filings, etc., etc. Income and loss items from the S corp will flow to different lines on your 1040, depending upon the type of income and deductions it has. Ordinary income or loss flows to the front of the 1040 via a Schedule E, interest income shows up on the Schedule B with other interest (like from bank accounts), contributions flow to Schedule A as an itemized deduction, etc. There are shareholder basis issues to deal with when considering if you can currently deduct an ordinary loss and other issues too numerous to mention. Do yourself a favor and get a good accountant, preferably (_very preferably_) one familiar with your type of business. You don’t want to be figuring this stuff out for yourself – it could turn into a very expensive lesson. Take the time you save and use it on growing your business. It will be more productive. Steve – Hide quoted text — Show quoted text – You will have to file an 1120 S for the federal and probably a similar return for your state. Your salary from the corp shows up on your 1040 under wages and salaries. Any other income the corp makes shows up under dividends on your 1040. You should make sure that the corp has filed an election on time to become an S corp (form 2553). That is due by the 15th day of the third month after which you begin business. If you haven’t done that, the IRS could refuse to except you as an S Corp. My advice is get to an accountant as fast as possible to find out where you stand. — Richard W. Vaccaro, CPA http://www.baranskyvaccaro.com How do I file taxes for an S corp? Do I simply file its expenses and income on my personal return? Or do I take the expenses, subtract it from the income and pay myself via the stock? -Ken Payne Ford Truck Enthusiasts http://www.ford-trucks.com Get an accountant. You probably have a state filing (and maybe a city) to do, too. Steve
Go to an airport where Signature doesn’t have any competition, like Miami or Newark. Even when you show up in a 10 million dollar jet, they can’t be bothered to get you turned around in good time. They will screw up the fuel order if you don’t watch them, if they remember to come and do your fueling. You have to get your own ice because it will be melted by the time they get it to the plane. At most major FBO’s, you shut down in front of the FBO’s entrance, disembark your pax, and the linemen tow the plane to parking afterwards.
I certainly agree that Signature operations vary greatly in the level of services that one receives. It can range anywhere from totally satisfying to "I’m gonna go sleep in the plane…..". For the fees that they charge, their level of service could be much, much better and much more consistent. I have been to many FBO’s that had magnificent facilities, services, personnel, crew cars, maintenance, customer service, etc. that do not charge nearly what Signature charges at most places. My most recent raving has been with the service that I received at Signal Aviation in Lebanon, NH the other day. We had arrived in a business jet with one passenger who was going to attend a short meeting, and we were to return him back to Chicago. Of course, we were immediately flagged in by a crew of two and were chocked and red carpeted before we could get the door open. If we would have been any closer to the front door, we’d have tore the side of the building off. Our total ground time was no more than 1 hour, and in that time, we got refueled, a mechanic was summoned to service our oxygen (this was after normal business hours on a Friday night — mechanic interrupted his dinner at home to come to the airport), we were coffeed and iced promptly, we were given a brand new MERCEDES BENZ courtesy car, complete with cell phone to go have dinner (and this was the normal courtesy car — they have two Benz’s in fact), and we were treated to a spotless FBO building. Upon departure, each of us crewmembers were given a small token gift of local products including a nice jug of maple syrup and fresh coffee beans. The maple syrup is the best I’ve ever had, and I have yet to get the coffee beans ground. The small fee that was paid for their services was miniscule compared to the level of services rendered. Operations like this are an absolute pleasure to visit. Now granted, we dropped several grand at this establishment (gas, O2, and landing fees) during our one hour stopover, but we’d have dropped at least that much at a comparable Signature FSO and would not have received nearly that level of personal service. If any of the readers of this newsgroup happen to be in the New Hampshire area, Signal Aviation at LEB comes with my highest recommendation. I don’t really need a large, well-equipped operation. I need speed of service.
I agree to an extent, but, and I’m sure you’ll agree as well….level of service and value of said services is equally as important as speed of service. — Blue Skies, Ryan R. Healy, ATP/MEII http://home.sprynet.com/sprynet/rhealy707
The two Signature’s you visited have good competition on the field. This helps keep them in line. And you gave them 2 days to complete the service. I will point out that Signature Savanah lists their hours in AOPA’s directory as being open 24 hours monday through friday. They sure as hell were NOT open the night I needed fuel to deliver some time critical components. There wasn’t even a number for call-out. I won’t use them in the future. Go to an airport where Signature doesn’t have any competition, like Miami or Newark. Even when you show up in a 10 million dollar jet, they can’t be bothered to get you turned around in good time. They will screw up the fuel order if you don’t watch them, if they remember to come and do your fueling. You have to get your own ice because it will be melted by the time they get it to the plane. At most major FBO’s, you shut down in front of the FBO’s entrance, disembark your pax, and the linemen tow the plane to parking afterwards. At these Signature’s, you shutdown in a distant corner of the ramp and your passengers fend off the rain and snow as they hike to the FBO. More than once, I have waited an hour and sometimes longer for a GPU. One time, I gave up and got it myself. If I counted on Signature’s service to impress my pax (who pay the bills), I would end up in the unemployment line. And then there are the fees they charge for this ‘great’ service. As I wrote in an earlier post, they are exorbitant. I don’t really need a large, well-equipped operation. I need speed of service. I have been turned in 15 minutes at FBO’s that were slightly more than shacks. I tipped the linemen $100 and still paid less than Signature would have charged. The pax that bought the multi-million dollar plane paid to go fast, not wait in a fancy building. D.
Fortunately, there are numerous satellite airports in the Miami area that don’t have landing fees and they don’t have Signature. D.
I’ve often wondered what legal precedence there was to charge a landing fee.
What legal precidence is there to a parking lot charging to park your car, or a highway charging a toll to drive the road? It’s pretty much the same thing. If you left without paying, could you be charged with theft of service?
Possibly. Could you be billed?
It’s fairly common practice to record your tail number and send you a bill at some airports. Why they bother for $5 is beyond me, but they do. Where in the FAR’s does it actually call for enforcement action based on not paying a landing fee?
Nowhere that I know of. It doesn’t have to. This is outside of the scope of the FARs. Where does it say that if you tell the FBO to fill your gas tanks, you are obligated to pay for it?
CGX (Chicago Meigs) – Class Delta, $12.00 Landing Fee + $9.00 Service Fee
Don’t forget the $9 parking fee that is assessed if you stay longer than 4 ours. — William LeFebvre Group sys Consulting +1 770 813 3224
: I’ve often wondered what legal precedence there was to charge a landing : fee. : What legal precidence is there to a parking lot charging to park your car, : or a highway charging a toll to drive the road? It’s pretty much the same : thing. "yes, but" it is clear from reading this thread that the posting, knowledge of, and enforcement of landing fees is quite haphazard. when i get on the turnpike, it is spelled out right there what i will pay and by golly unless i take a shortcut through a swamp somewhere i will pay it. i am no lawyer (amen, amen, alleleujia), but a lawyer friend of mine (may i burn in hell forever) says that if you landed and were suddenly slapped with a hefty landing fee, if the fee were not sufficiently obviously posted, you probably have a good case for not paying it. now what ’sufficiently obviously’ means is open for interpretation–but based on what we have seen so far, id say it would at least be worth looking into. i am also not advocating anybody conscientiously break the law/FAR, of course. – adrian
a lawyer friend of mine (may i burn in hell forever) says that if you landed and were suddenly slapped with a hefty landing fee, if the fee were not sufficiently obviously posted, you probably have a good case for not paying it.
It is obviously posted. Every airport with a landing fee (that I know of) has such documented in the A/FD. There really is no excuse for not knowing about it. It’s up to you to call ahead and find out the details. Some are unexpectedly high. Most people would expect to pay an arm and a leg for landing at LaGuardia or Logan, and they wouldn’t be disappointed. But Montaulk NY, for example is a small uncontrolled stip out near the tip of Long Island. Most people would probably expect it to be free, but they charge something like $15 for a single, more if you stay overnight. They accept no federal money. The landing fees are their entire means of support. The A/FD listing plainly says there is a landing fee, and gives the phone number of the airport manager. When I called to enquire, they were friendly, but up-front about what it cost. Had I failed to enquired beforehand, it would have been nobody’s fault but my own that I didn’t know the fee. What would your lawyer friend say about walking into a restaurant and ordering the lobster, which is marked on the menu as "market price" and then refusing to pay for it because when you got the bill it was higher than you expected but you never bothered to ask what it was when you ordered it?
CGX (Chicago Meigs) – Class Delta, $12.00 Landing Fee + $9.00 Service Fee Don’t forget the $9 parking fee that is assessed if you stay longer than 4 ours.
Yup! And $25.00 for overnight parking. No monthly tie-down available at all, which is kind of a bummer for those of us who live in the neighborhood and would like to be able to walk to our planes. 
jean. Jean Liddle | DISCLAIMER: "It is unlikely that email: jean kcco dot com | anyone shares the opinions expressed http://jean.nu/ | here, much less my employer." Dual: 33.7 hours PIC: 8.6 hours
That depends on the airport. Some of the airports in the NY area are known for their landing fee Nazis (Teterboro, Farmingdale, and Islip). They have people writing down N numbers or chasing you in a truck when you land.
They run you down with a truck at Trenton, even! (Or did when I was a student, anyway.) What a waste of time and resources for a measly $3… I was amused to call Teterboro, though, to ask about landing fees, only to have them ask for my registration number. Turns out it’s weight-based, and when I said "N44438" he said "oh, ok, a Cherokee, 2300 pounds, $5.50." (Or whatever it actually was…) Teterboro’s probably the best of the lot, fee-wise, unless you’re flying something really heavy. Park at Atlantic if you’re headed into NYC, they’re right by the bus. good luck, andrew
Anyplace one can get a list of all airports that have Signature *service* so us GA low-lifes can avoid them like the plague? Ron : Premium at MIA for piston twin is $28. Add an outrageous $140 service fee : for the sole FBO, Signature. Signature then charges you $3.08/gal for avgas : from monday to friday. : : D. :
Anyplace one can get a list of all airports that have Signature *service* so us GA low-lifes can avoid them like the plague?
AOPA’s Aviation Directory lists FBOs for each field. If Signature is the only one listed, then you probably want to avoid it. :- — William LeFebvre Group sys Consulting +1 770 813 3224
Someone at work asked me how much landing fees were at the large airports. After naming two nearby, JFK and HFD, I explained one was class B and the other class C. But having never landed at either I had no idea what the landing fees would be. Anyone care to quote fees paid at various fields??? MDW (Chicago Midway) – Class Charlie, $7.00 Landing Fee CGX (Chicago Meigs) – Class Delta, $12.00 Landing Fee + $9.00 Service Fee The only two in this area that have charged me have been MDW and CGX. I assume ORD (Chicago O’Hare) charges something but I have no idea what.
JFK is $25 after 10:00 PM about $109 befor 10:00 PM plus you need a reservation befor 8:00 PM. You also get 1 hour at the terminal free. These prices are based on weight and are what I paid about 2 months ago for a Piper Archer. I never went to LGA, but I did find out that the landing fee is never cheap, I cant remember the numbers off hand but I’m sure it was over $100.00 all day. JFK is actually a good deal. For some good info on airports visit. http://www.airnav.com/ Sometimes they have the langing fees. They do for JFK. — / John Roncallo /
Anyplace one can get a list of all airports that have Signature *service* so us GA low-lifes can avoid them like the plague? AOPA’s Aviation Directory lists FBOs for each field. If Signature is the only one listed, then you probably want to avoid it. :-
I have read coments like this before about Signature, and when travelling south of the border earlier in the year, I was concerned when at Savannah we ended up at Signature. What I found there was a large, well equipped operation with comfortable lounges, weather computer terminal, courtesy cars and helpful staff. We subsequently (after two days in Savannah) stopped at Signature in Charlotte and experienced basically the same thing (we didn’t get the red carpets that the jets got but..). So my question is what’s wrong with Signature? Terry
Someone at work asked me how much landing fees were at the large airports. After naming two nearby, JFK and HFD, I explained one was class B and the other class C. But having never landed at either I had no idea what the landing fees would be. Anyone care to quote fees paid at various fields???
On a related topic, what are the logistics of collecting/paying the fee? Do you actually go somewhere on the field, get billed by N-number, something else? —Jim
Premium at MIA for piston twin is $28. Add an outrageous $140 service fee for the sole FBO, Signature. Signature then charges you $3.08/gal for avgas from monday to friday.
WOW!!! or should I say OUCH!!! By "Premium" I’d guess you’re talking landing fee? And what if you don’t want to be "Serviced"??? Even just to park long enough to drop off or pick someone up? And I thought things were expensive up here in the Northeast… Charles N137AT
writes: Providence (PVD) supposedly charges a landing fee, but I don’t know if they enforce it for small planes.
They do, unless you buy fuel. At least they did the last time I was there. Which was over two years ago. Charles N137AT
That depends on the airport. Some of the airports in the NY area are known for their landing fee Nazis (Teterboro, Farmingdale, and Islip).
I didn’t realize Islip had a landing fee, but TEB and FRG certainly do. And sure enough, if I land there, a few months later my flying club will get a bill for it and pass it along to me. I figure for the $5 landing fee, they probably spend a good $25 in accounting paperwork to collect it.
Someone at work asked me how much landing fees were at the large airports. After naming two nearby, JFK and HFD, I explained one was class B and the other class C. But having never landed at either I had no idea what the landing fees would be. Anyone care to quote fees paid at various fields???
I believe DFW charges something on the order of $25-$35 for Part 91 aircraft. I’ve often wondered what legal precedence there was to charge a landing fee. If you left without paying, could you be charged with theft of service? Could you be billed? Where in the FAR’s does it actually call for enforcement action based on not paying a landing fee? –Brian
Someone at work asked me how much landing fees were at the large airports. After naming two nearby, JFK and HFD, I explained one was class B and the other class C. But having never landed at either I had no idea what the landing fees would be. Anyone care to quote fees paid at various fields??? On a related topic, what are the logistics of collecting/paying the fee? Do you actually go somewhere on the field, get billed by N-number, something else?
That depends on the airport. Some of the airports in the NY area are known for their landing fee Nazis (Teterboro, Farmingdale, and Islip). They have people writing down N numbers or chasing you in a truck when you land. At Northeast Philadelphia you only paid the landing fee if you went into the FBO or got gas. If you needed a bathroom break then you get hit. If you don’t walk into an FBO the you are not their problem. Some airports take down the N number of the landing aircraft then send a bill to the registered owner of the aircraft. John – N8086N YOUR JOB IS AT STAKE! Write your congressman and senators to oppose the "American Competitiveness Act". EMail Address: |c.o.l.o.s.s.e.u.m.b.u.i.l.d.e.r.s.| |c.o.m.|
Neither HFD (Hartford-Brainard, which is Class D), nor Bradley Field (BDL, Class C) charges a landing fee for light aircraft operating under FAR Part 91 (non-commercial). Providence (PVD) supposedly charges a landing fee, but I don’t know if they enforce it for small planes.
All airports in Rhode Island charge a $5 landing fee, which is waived if you buy fuel. That’s according to a sign in the Block Island FBO. There, the State maintains a desk at which you pay the fee, and you have to go through there to get off the field. George Patterson, N3162Q.
Neither HFD (Hartford-Brainard, which is Class D), nor Bradley Field (BDL, Class C) charges a landing fee for light aircraft operating under FAR Part 91 (non-commercial). Providence (PVD) supposedly charges a landing fee, but I don’t know if they enforce it for small planes. Jeff Oslick
Someone at work asked me how much landing fees were at the large airports. After naming two nearby, JFK and HFD, I explained one was class B and the other class C. But having never landed at either I had no idea what the landing fees would be. Anyone care to quote fees paid at various fields???
MDW (Chicago Midway) – Class Charlie, $7.00 Landing Fee CGX (Chicago Meigs) – Class Delta, $12.00 Landing Fee + $9.00 Service Fee The only two in this area that have charged me have been MDW and CGX. I assume ORD (Chicago O’Hare) charges something but I have no idea what. jean. Jean Liddle | DISCLAIMER: "It is unlikely that email: jean kcco dot com | anyone shares the opinions expressed http://jean.nu/ | here, much less my employer." Dual: 33.7 hours PIC: 8.6 hours
Premium at MIA for piston twin is $28. Add an outrageous $140 service fee for the sole FBO, Signature. Signature then charges you $3.08/gal for avgas from monday to friday. D.
Someone at work asked me how much landing fees were at the large airports. After naming two nearby, JFK and HFD, I explained one was class B and the other class C. But having never landed at either I had no idea what the landing fees would be. Anyone care to quote fees paid at various fields??? MDW (Chicago Midway) – Class Charlie, $7.00 Landing Fee CGX (Chicago Meigs) – Class Delta, $12.00 Landing Fee + $9.00 Service Fee The only two in this area that have charged me have been MDW and CGX. I assume ORD (Chicago O’Hare) charges something but I have no idea what.
I flew into O’Hare my first (and only) time in 1993 (or was it 1994). Right smack in the middle of a weekday. I was flying a 182. As I recall, it cost somewhere around $70 all told. greg — greg travis "The coffee shop piano plays toe-tapping jazz, http://www.prime-mover.org/ — Microsoft, in "The Future is Today"
Someone at work asked me how much landing fees were at the large airports. After naming two nearby, JFK and HFD, I explained one was class B and the other class C. But having never landed at either I had no idea what the landing fees would be. Anyone care to quote fees paid at various fields??? Thanks Charlie N137AT
I am looking for billing software for a rehabilitation center. Any suggestions?
American Fundware fund accounting designed especially for not for profits (nfp) such as your organization. See http://fundware.com
Are we talking about ACCOUNTING software or BILLING software? Is the billing for HCFA-1500 and/or UB-92 claims? Perhaps you could provide a little more info if you want a meaningful answer…. – Hide quoted text — Show quoted text – I am looking for billing software for a rehabilitation center. Any suggestions? American Fundware fund accounting designed especially for not for profits (nfp) such as your organization. See http://fundware.com
I am looking for billing software for a rehabilitation center. Any suggestions?
USTI has fund accounting for win95, nt, ect. it integrates with MS Office very efficiently. see them at www.unitedsystech.com or email
I am looking for billing software for a rehabilitation center.
United Systems Technology has fund accoutning. it integrates with MS Office very efficently. they are at www.unitedsystech.com or email me [ www.unitedsystech.com 6K ]
I am looking for billing software for a rehabilitation center. Any suggestions?
Does the software need to handle only billing to the patient or is their insurance billing involved as well? – Hide quoted text — Show quoted text – I am looking for billing software for a rehabilitation center. Any suggestions?
We bill direct, insurance, county and medical assistance. – Hide quoted text — Show quoted text – Does the software need to handle only billing to the patient or is their insurance billing involved as well?