The Small Business Tax Help Blog

Archive for June, 2007

Question: What legal aspects is needed to be done for me to leave a general partnership/Investment Club?

I am planning on leaving an investment club that never took off and has no support from the other members (yet they don’t wish to dissolve the partnership). Besides a written notice, what legal aspects do I need to do on my part to remove myself from the partnership (or is all that handled by the investment club)

Please note we never actually got started except for getting an EIN and registering a DBA (along with getting the agreement together) so we never have filed our taxes because of no gains or losses or expenses. Thanks

Answer: You should be able to find the terms for leaving the club in the agreement you signed and/or were given to you when you joined.

As long as you are in compliance with the terms and conditions set forth when you joined you can walk out without having to worry about any legal consequences.

Hope this helps
Jerry-the-bookkeeper

Europlasma: Progress and Financing for the Development of CHO-Power(R) Power Production Units

After signing the letter of intent in April 2010 with a fund specialised in renewable energies for the development of CHO-Power activities, Europlasma, the French group specialized in clean technologies and renewable energy production, is reporting on progress made with the project to develop the Morcenx biomass power production plant and is announcing various developments in relation to the ...

Bennet: Health measure a step forward

DENVER – U.S. Sen. Michael Bennet is outspoken about his disappointments in the proposed health-care overhaul – and about why he thinks it should be approved.

DGAP-News: Catalis SE: Catalis subsidiary Kuju announces closure of its Manila studio

Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement.

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Question: I WORKED IN LIBYA FROM 27SEP07TO30JULY2008&MY SALARY WAS TAXED THERE.SHOULD I PAY TAX IN INDIA ALSO.?

AM I CONSIDERED NRI FOR FINANCIAL YR 07-08. IS THERE A DOUBLE TAXATION AVOIDANCE TREATY BETWEEN INDIA AND LIBYA.I WENT ON EMPLOYMENT VISA.

Answer: Please see the following articles for clarity:

Non-Resident Indian (NRI) - Definition under Income Tax and FEMA. Tax Implication of Residency :

http://smartmoneyindia.blogspot.com/2009/02/non-resident-indian-nri-definition_07.html

What you might have missed

MISS something? In overnight sports news, disgraced US baseball star Mark McGwire finally came clean over his steroid use.

Cheshire Homes India Lucknow - An Appeal

Question: Figuring out total taxes paid without a pay stub?

Is there a way to calculate my direct deposit earnings and figure out how much I paid in taxes this year with a simple equation? I have moved several times since I received my final pay stub and I no longer have access to any pay stubs I saved [my family lost them during the move]. I can probably obtain a copy of my final pay stub from my last employer but I’d like to be able to estimate my total taxes paid so I can get an idea of what to expect for my refund. I live in Massachusetts, if that matters. Additional information can be provided if needed. Oh, and I made less than $15k.

Answer: If you know what you claimed on your W-4 for the entire year, you can look at IRS Publication 15. That should give you a good idea of how much tax was withheld.

California Creditors See IOUs With Schwarzenegger Missing Obama

Jan. 13 (Bloomberg) -- California’s hopes are fading for federal help in closing a projected $19.9 billion deficit that has caused the lowest-rated state’s borrowing costs to rise 26 percent in three months.

Massachusetts Fiscal Action Plan Implemented (Part 1 of 2)