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Old 04-27-2010, 09:38 AM   #1 (permalink)
 
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Question What about taxing EFT's?????

I am curious to know what you are all doing about taxing exsisting EFTs? can I legally add a tax to my clients EFTs. The contract they signed states that they agree to left me automatically withdraw $xx.xx from there account each month for 12 months. What do I do about this. I can't find anyone that knows an answer to this. Help please! I know I can add tax to new clients but I don't know about the exsisting.
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Old 04-27-2010, 09:59 AM   #2 (permalink)
 
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Re: What about taxing EFT's?????

We dont know anything concrete yet, but my mom is a lawyer and an accountant, and from what she said you have an existing contract with these folks, so the existing contracts you have should be exempt from the tax. You made these contracts before the government ever decided to make these changes.
The tax should only applies to new contracts that you make after July 1st 2010.
At least thats what I am thinking as of right now!
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Old 04-27-2010, 11:25 AM   #3 (permalink)
 
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Re: What about taxing EFT's?????

Thank you. I am just clueless on the EFTs. I don't want to get in trouble for not charging taxes but then again I don't want to get in trouble for changing the charge on a legally binding contract.
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Old 04-27-2010, 11:31 AM   #4 (permalink)
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Re: What about taxing EFT's?????

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Originally Posted by exoticexposure View Post
We dont know anything concrete yet, but my mom is a lawyer and an accountant, and from what she said you have an existing contract with these folks, so the existing contracts you have should be exempt from the tax. You made these contracts before the government ever decided to make these changes.
The tax should only applies to new contracts that you make after July 1st 2010.
At least thats what I am thinking as of right now!
Interesting.

Wonder how it would apply to mine. All mine expire in 2029 since after the minimum term they go month to month.

Then again, both my cell and Vontage bills when up even though I was under contract.
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Old 04-27-2010, 01:49 PM   #5 (permalink)
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Re: What about taxing EFT's?????

I have been telling my EFT clients that they will be imposed a tax as of July 1. Nothing we can do about it.
I had one girl ***** and I told her she can cancel and pay more for regular sessions and montlies as I wouldn't let her back onto EFT.
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Old 04-27-2010, 03:32 PM   #6 (permalink)
 
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Re: What about taxing EFT's?????

But i want to know if i can legally change her draft amount. We have them sign contracts.
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Old 04-27-2010, 04:09 PM   #7 (permalink)
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Re: What about taxing EFT's?????

youll need to inform them of the extra tax and give them the option to cancel or pay the tax...when they come to tan have new contracts ready to sign. we all need to start advertising plus applicable taxes.
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Old 04-27-2010, 07:47 PM   #8 (permalink)
 
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Unhappy Re: What about taxing EFT's?????

Mine actually already do state "plus all applicable taxes".
What do some of you do when your state or county sales tax go up? Don't you change your tax rates on the eft's for that? This is the same thing/idea.
Tax rate changed I have to draw more out. Mine will be 19%, by the way. Can't wait for that to start - NOT!
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Old 04-28-2010, 09:35 AM   #9 (permalink)
 
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Re: What about taxing EFT's?????

We don't have any kind of taxes on EFTs. This will be the first.
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Old 04-28-2010, 01:48 PM   #10 (permalink)
 
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Re: What about taxing EFT's?????

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Originally Posted by Curious View Post
We don't have any kind of taxes on EFTs. This will be the first.
We didnt have a tax on tanning so far either, thats why our EFT contracts dont have anything in them as far as tax goes.
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