Accounting Firm in Texas

  What Is a Stock? A stock (also known as equity) is a security that represents the ownership of a fraction of a corporation. This entitles the owner of the stock to a proportion of the corporation's assets and profits equal to how much stock they own. Units of stock are called "shares." (Image source from: https://image.slidesharecdn.com/sclassof2009dansoldatenkovbusinessmath2stockpowerpoint-090417161656-phpapp01/95/stock-powerpoint-3-728.jpg?cb=1239985048 ) Stocks are bought and sold predominantly on stock exchanges, though there can be private sales as well, and are the foundation of many individual investors' portfolios. These transactions have to conform to government regulations which are meant to protect investors from fraudulent practices. Historically, they have outperformed most other investments over the long run. These investments can be purchased from most online stock brokers. Note:   A stock is a form of security that...

  What Is a Shareholder? A shareholder also referred to as a stockholder, is a person, company, or institution that owns at least one share of a company's stock, known as equity. Because shareholders are essentially own the company, they reap the benefits of a business's success. These rewards come in the form of increased stock valuations or as financial profits distributed as dividends. (Image source from:  https://media.warriortrading.com/2018/07/Blog_Shareholder.jpg ) Conversely, when a company loses money, the share price invariably drops, which can cause shareholders to lose money or suffer declines in their portfolios. Note:   A shareholder is any person, company, or institution that owns shares in a company's stock. A company shareholder can hold as little as one share. Shareholders are subject to capital gains (or losses) and/or dividend payments as residual claimants on a firm's profits. Shareholders also enjoy certain rights such as voting at shareholder m...

  What Is a Foreign Transaction Fee? A foreign transaction fee is a charge assessed by a financial institution to a consumer who uses an electronic payment card to make a purchase in a foreign currency. Foreign transaction fees usually apply to card purchases made in foreign countries while traveling, but they can also apply to purchases made online from your home country where the vendor is foreign and processes the transaction in its local currency. Foreign transaction fees are also called “foreign purchase transaction fees” or “foreign currency transaction fees.” Note:   A foreign transaction fee is imposed by a credit card issuer on a transaction that takes place overseas or with a foreign merchant. These fees are typically 1%–3% of the value of the transaction and are paid by U.S. travelers in dollars. Online purchases that take place with overseas vendors may also be subject to such a fee. Several banks or credit card issuers now offer certain customers waivers...

  What Is a Void Transaction? A void transaction is a transaction that is canceled by a merchant or vendor before it settles through a consumer's debit or credit card account. Although a transaction may be void, it does not appear on the customer’s account statement. It may appear as a pending transaction when the customer checks their account online. Note:   A void transaction is a transaction that is canceled before it settles through a consumer's debit or credit card account.  When a transaction is voided, it shows up as a pending transaction on the customer's account for a short period of time, while the process is being completed. Void transactions are different from refunds, which are issued after the transaction has cleared through the customer's account. Mistaken charges, incorrectly-charged merchandise, and fraudulent purchases are the most likely to be voided. Understanding Void Transactions When a transaction takes place, the merchant s...

States return billions of dollars worth of unclaimed property every year. Unclaimed property generally consists of unclaimed money in financial and bank  accounts that have sat dormant  for more than a year. Find out how to check if you have any unclaimed property and how to claim it. Note:   Unclaimed properties are those assets or funds where the rightful owner cannot be located or has left the account dormant for a prolonged period. Typically unclaimed funds and property are handed over to the state the assets are located in after a dormancy period has passed. States have established processes whereby legal owners of assets can reclaim unclaimed funds. When claiming unclaimed funds that have risen in value, taxes may be assessed at the time. If you claim property, it will be treated as ordinary income and taxed accordingly unless the property is related to a tax refund. Reclaiming Property The process for reclaiming unclaimed or escheated property varies by state, as t...