Wednesday, August 26, 2015

Unclaimed Property as a Tax Dodge?

I got a letter from PriceWaterhouseCoopers this week. They are doing an audit for Google and found that Google owes me some money. It's earned revenue from my old AdSense account. I assume it's from YouTube and the few ads I had on my blog for a while. In 2010 I decided ads on my blog were dumb because I was never going to reach the payment threshold. So I deleted them. Not really sure what happened to YouTube ads on my rocket videos. I sort of forgot about it for 5 years.

Anyway, the letter says the money is going to be handed over to the State of Georgia as unclaimed funds because I haven't logged into that AdSense account since 2010. If I want to actually claim the money I have to sign the letter and return it to PriceWaterhouseCoopers, then open a new AdSense account and the money will be transferred to it. But AdSense still won't remit any funds below a $100 threshold. Ever. A quote from the AdSense agreement:
10. Termination
.... If you terminate the Agreement and your earned balance equals or exceeds the applicable threshold, we will pay you your earned balance....  Any earned balance below the applicable threshold will remain unpaid.
Remain unpaid? Indefinitely? I don't think you can do that. The accountants must be appeased! What happens to amounts under $100? Some consultant at PriceWaterhouseCoopers is probably really bent that Google won't change this language in the AdSense agreement. I bet they can't think of any legitimate journal entry to transfer that amount from liabilities to equity. 

I took one financial accounting class at Georgia Tech in about 1987, so this is definitely not my field. I am fully prepared to be totally wrong about this. But I did learn double entry bookkeeping and the basic element of ethics it implies. If a company has a number in the credit column they have to have the same number in the debit column. Right now Google has $75 in the account for owing people money that is offsetting $75 in an actual bank account, collected from an advertiser because somebody watched an ad on a video I made. This makes it so Google doesn't have to show that $75 of actual money as an asset. It's a liability, owed to me. But they never intend to give me that $75. That's obviously unethical to me. 

And now you know why I was unable to make it as a businesswoman and closed my S-Corporation in 2005.

If I do nothing I guess PriceWaterhouseCoopers makes Google hand $75 over to Georgia. Google has to subtract it out of their column of actual money. Then it becomes Georgia's actual money to earn interest on indefinitely while it sits in another column on Georgia's books as money still owed to me. That sounds more fair. Maybe the right course of action is to not return the letter to force that to happen.

In the best case scenario this weird threshold loophole is a waste of administrative resources for accountants, mail clerks, and me. This has to happen ALL the time. In the worst case scenario, it's ... I don't know. I draw the line at calling something fraud this far from my area of expertise. I am merely skeptical and curious for an explanation. Any knowledgable comments appreciated.

Note: this is a free blog provided by Google. I am not missing the symbolism of criticizing their accounting on a service they are giving away. I pay a yearly fee for my URL registrations but I don't pay Google anything for hosting content. Directly anyway. I do apparently provide them a tiny single line tax dodge. You're welcome.

19 comments:

  1. This comment has been removed by a blog administrator.

    ReplyDelete
  2. I would like to thank you for the efforts you have made in writing this article. I am hoping the same best work from you in the future as well.. Insurance Wooster

    ReplyDelete
  3. This is really a nice and informative, containing all information and also has a great impact on the new technology. Thanks for sharing it Bukit 828 Roxy Pacific Homes

    ReplyDelete
  4. Thanks for providing recent updates regarding the concern, I look forward to read more. The Hyde Woh Hup Group

    ReplyDelete
  5. Thank you very much for this useful article. I like it. Mayfair Modern

    ReplyDelete
  6. Excellent article. Very interesting to read. I really love to read such a nice article. Thanks! keep rocking. compare auto insurance reviews

    ReplyDelete
  7. Find top realtors in your city or town that go the extra mile and advertise in all the top spots. Our Real Estate Brokers use an inside platform to connect buyers and sellers through Agents in our system. We have lists of developers, builders. And do lan assembly packages to get the best value for your home or property. When only the finest Realtor will do to work with your most valuable asset then look no further than our hand picked Real Estate Brokers list. If you want more info click here link : Realtors

    ReplyDelete
  8. i read a lot of stuff and i found that the way of writing to clearifing that exactly want to say was very good so i am impressed and ilike to come again in future.. villa for sale Los Monteros Marbella

    ReplyDelete
  9. This is such a great resource that you are providing and you give it away for free. I love seeing blog that understand the value. Im glad to have found this post as its such an interesting one! I am always on the lookout for quality posts and articles so i suppose im lucky to have found this! I hope you will be adding more in the future... Chip Eng Seng

    ReplyDelete
  10. I found that site very usefull and this survey is very cirious, I ' ve never seen a blog that demand a survey for this actions, very curious... allegheny county real estate

    ReplyDelete
  11. Each & every tips of your post are awesome. Thanks a lot for sharing. Keep blogging,
    Licensed Real Estate Agents
    LuxuryArizonaRealtors.com

    ReplyDelete
  12. Talking with the monetary counsel for the proprietor of the property, or the tax collection office, will accomplish clearness in this tax assessment sway. https://yes-mallorca-property.com

    ReplyDelete
  13. It is possible to have it live up to its "pleasure" name and organise all manners of onboard entertainment. budapest rental

    ReplyDelete
  14. Queen bunk beds are usually quite difficult to find for several reasons that tend to be self defeating the point of actually getting a this type of furniture for practical reasons. bed with slide

    ReplyDelete
  15. I read that Post and got it fine and informative. muabannhadat tphcm

    ReplyDelete
  16. Just buying a low quality mattress will never allow you to have better sleep and in fact it can become the reason for back ache or other health issues. truck mattress

    ReplyDelete
  17. This was a really great contest and hopefully I can attend the next one. It was alot of fun and I really enjoyed myself.. auction finance

    ReplyDelete
  18. Every wage earning citizen of the United States of America is required to pay their income taxes; for that matter, also Medicare and Social Security taxes too. Further, almost every citizen pays taxes in some fashion or other regardless of wag earnings in the forms of sales tax, property taxes or even vehicle registration. click here

    ReplyDelete
  19. Government policies, a silent architect shaping the contours of real estate, wield immense influence in shaping urban landscapes. Zoning regulations, tax incentives, and infrastructure development are the invisible hands that mold the physical and economic dimensions of cities. The intricate dance between public policy and private enterprise sets the stage for the evolution of neighborhoods and the broader urban fabric.we buy ugly houses

    ReplyDelete