The Small Business Tax Help Blog

Archive for April, 2009

Celebrating National Home Business Week

From October 12 – 18, home-based business operators will be celebrating their courage, determination and entrepreneurial spirit in New Zealand’s third annual National Home Business Week.

Self Employment Tax Tips : Omission of Income: Self Employment Tax

Paying quarterly estimated taxes

If you must file estimated taxes throughout the year, your first voucher of 2010 is due Jan. 15.

Obama apologizes for Daschle downfall

Question: What is the difference between vehicle expenses and transportation expenses? Tax Act is confusing!?

Hi…I run a business out of my home and am using Tax Act to do my taxes. I completed the ” Vehicle Expense” questions, which had me separate out commuting miles, from business miles and went with the standard deduction for my business miles.
The next set of questions were for “Transportation, travel, meals and entertainment”. It asks for “local transportation expenses” and “Overnight travel expenses”. Am I supposed to claim the same mileage that I just did with the “Vehicle Expenses” category again???? I’m totally confused.
Thanks!
I figured out what the problem was…one set of questions was for “employee” expenses, the other for “business”expenses. As employee, they go on schedule A and subject to 2% rule, as business, they go on schedule C and not subject to 2% rule. Guess I was a little too tired to catch that when I posted. Thanks everyone.

Answer: transportation expenses are cabs, air fare, rail fare.
Also tolls and parking are separate expenses from that used by putting for mileage for your car.

If you use your car for business, do not enter it twice.

You can deduct hotel/ motel expenses and50% of meals. Again, do not enter it twice.

Jones of Peaks Hotel, Hurwitz elected to TMVOA board

Kevin Jones, an investor in the Peaks Capital Group that bought the resort earlier this year, won the only contested seat in the 2009 Telluride Mountain Village Owners Association Board of Directors election. He narrowly bested incumbent and Capella manager John Volponi for the position.

Bailed Out Banksters Screwing Hookers, Using Company Credit Cards! 2/9/2009

Question: What permit(s) would I need to set up a food service stand in GA?

I know I need a business and occupational license, EIN number, and state sales tax ID… But what else? From the city/county, Health Department, etc.

And where would I go to find out about setting up a stand in a parking lot or street corner (owner of the building that the parking lot is for, the city/county)?

Answer: call the economic dev office for the state

Israeli hospitals: Nurture medical tourism market

Could Israel become a hub for medical tourism? Many in the Israeli medical establishment believe it can.

SDP: How does it work?

Question: If I make my own products by hand and sell them do I need a business license?

Let’s say I make my own picture frames by hand from bare pieces of wood and I intend on selling this out of a rented space, do I need to get a business license and tax ID and stuff like that? What would I need to get this business idea rolling?

Answer: In the United States you do.
The actions that you list here describe setting up a business.

Kathy Kristof: How to hire a (good) tax preparer

Do you pay someone to prepare your annual tax return? If so, you've got plenty of company.

How to Open a Small Business : How to Get a Business License