The Small Business Tax Help Blog

Archive for December, 2008

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Question: Private vehicle business expenses. Is this legal?

I currently get paid 25p per mile and we recieved this email yesterday. Is this legal and can it be challenged?

Gents,

With immediate effect, can we please make sure that every expense sheet submitted has fuel receipts attached from now on – the value of which MUST be greater than what you are claiming for (ie – if you are claiming mileage expense for £25 – the fuel receipts must be greater than £25). As also highlighted by BLANK, every site/area also needs to be listed on the sheets as well!

If your expenses do not have the above items (listed or attached) then I will be unable to pay them until they are completed correctly & are compliant regarding the “tax liability” perspective.

Answer: The request for receipts is due to a fairly recent VAT case in the European courts.

Up to this year HMRC have been relaxed about this and allowed your employer to claim back the VAT back on the petrol element of your claim without having to produce receipts.

This was declared illegal and the rules have had to be changed. The employer must now have enough receipts to cover the claim but it only needs to be enough to cover the petrol part which varies according to the car but is usually about 12 to 15p per mile.

The pther details are needed to ensure that claims are not paid on private mileage.

Lee School Board delays approving office supply budget while Office Depot audit continues

A vote on office supply expenditures from the Lee County School Board was delayed Tuesday night after board members balked at authorizing the district to continue doing business with Office Depot.

A "MUST-HAVE" For Ebay Sellers!! TopWholesalersList.com {MAKE MONEY TODAY!!!!}

2009: The Year in Review

The coming of the New Year offers another chance to reflect on the past events. This is the first part of the annual “Year in Review” feature that will examine the highlights from the first six months of 2009. Part two, in next week’s edition, will summarize the remainder of the year.

Anime Collection, January 7th, 2010

Question: How do to payroll for a small business in Florida?

Need answers from accountants or payroll professionals please.

I don’t need to know any tax rates.

I should have the following deductions:
Social Security
Medicare
Federal Tax
Federal Unemployment
State Unemployment (SUI)
Is this correct?????

How often do I send a liability check to the State and Federal??? Monthly for each???

What tax forms do I have to fill out and when??

Thanks, any help is appreciated.

Answer: It depends on the size or your business and your business address.

The best-kept tax secret for small businesses

For two years, Dr. James Smouse of Atlanta Oral and Facial Surgery tried to convince his younger partners to participate in a cash balance pension plan, a unique defined-benefit plan that offers business owners the opportunity to make hefty, tax-deferred contributions toward their retirement savings. But until the recession hit, they weren't interested.

Councilman Carl DeMaio appears on San Diego 6 to talk about the small Business Tax relief

Lexy & K-Paul with DATA MC “If I gave you my digits” (Original Video)

Top Scoops

Undernews For January 7, 2009 Since 1964, the news while there’s still time to do something about it

The Family-Theocracy in America Exposed [part I]