The Small Business Tax Help Blog

Archive for November, 2008

Obama awards $2.3 bln clean energy tax credits

WASHINGTON (Reuters) – U.S. President Barack Obama will unveil a $2.3 billion tax credit on Friday to boost jobs by promoting clean energy, as fresh data showed that the country’s unemployment remains stuck in the double digits.

Obama Explains His Tax Cut Plans To Plumbing Business Owner

2009 Tax Legislation Will Greatly Impact Individuals and Businesses in 2010

ARLINGTON, Va., Jan. 5 /PRNewswire-USNewswire/ — Steps taken by the American Recovery and Reinvestment Act to stimulate spending and grant targeted tax relief had a major impact on several IRS Code provisions in 2009. Further efforts to stimulate the economy led to the extension and expansion of a few of the more popular credits and deductions with tax consequences that are yet to be fully …

Question: Does anyone know Kentucky Unemployment’s Federal ID number (FEIN)or(EIN)?

I need the EIN for Kentucky Unemployment so I can put it on my tax return.

Answer: It will be on the 1099 or W-2 the state sends you.

Ten steps to turn your hobby into a small business

(ARA) – Given the state of the U.S. economy, you might assume that turning your hobby into a small business right now isn’t the best idea.

Fairfax County Credit Union Cox Local Edition

Question: Definition to german phrase?

What does “Manchal, aber nur manchal, haben Frauen ein kleines bisschen Haue gern”

and “Immer, ja wirklich immer, haben Typen wie du was auf die Fresse verdient”

mean?

Answer: "Sometimes, but only sometimes, women like to be beaten a little bit..."

"Always, yes - really always, guys like you deserve a beating on the mouth..."

"Fresse" is a German derisive term for mouth.

More about that song by Die Ärzte can be found here:

http://en.wikipedia.org/wiki/Manchmal_haben_Frauen...

Esko signs deals with HP and EFI to offer i-Cut Suite with print kit

EskoArtwork has signed partnership deals with both EFI and HP to integrate its workflow into the printer vendors' product portfolios.

Harry Potter und ein Stein Teil 5 - High Definition

Question: What is the New York State self-employment tax rate?

I had found it somewhere once before and I dont remember what is was. I think like 6% or 7%. I know the max income tax is 6.58%, but what about the self employement tax. My accountant gave me figures to paid both federal and state, but I think they are high, extremely high! Thanks in advance.

Answer: blinnk281,

There is no NY State self employment tax. That is only Federal.

Federal self employment is 15.3 percent of net self employment income

To arrive at the self employment tax you take the net self employment
and multiply it ny .9235 and then by .153. That is your SE tax.
You then take 1/2 of that and that becomes a deduction against total income to arrive at AGI.

You have an income tax rate ranges from 4.5 % to 6.85%. You get to take a standard deduction and exemptions if any.

How’s year going to go? 5 categories offer clues

This is only the 10th day of 2010, yet it seems clear that this will be a year of transition, turning from one of the worst years in economic history to, what? A V-shaped recovery? A long, hard slog sideways? A short period of growth followed by another downturn?

The Metropolitan Commuter Transportation Mobility Tax (MCTMT) - Information for Employers