The Small Business Tax Help Blog

Archive for August, 2009

Question: Sales Tax ID Number?

Does anyone know what site I can go to, to get my free Florida Sales Tax ID Number? I need to get it to start my business..
Anyone else? I need to get this done ASAP!!!

Answer: http://www.myflorida.com/dor/eservices/a...

Online Tax Registration

Online Tax Registration is an Internet version of the Application to Collect and/or Report Tax in Florida (Form DR-1).

Use this application to register

1. New business entities
2. New business locations
3. Changes of county location (from one Florida county to another)
4. Changes of legal entity (i.e., proprietorship to corporation, etc.)
1 minute ago

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Earth Watch

The Arctic roots of our 'upside-down' weather

The Revolution has begun! Florida Tea Party - March 21st, 2009

Al Qaeda in America

While America hotly debates whether or not the Fort Hood shootings were an act of terror and the rights and wrongs of putting five 9/11 al Qaeda conspirators before a civilian trial in New York, an undoubtedly authentic al Qaeda-linked terror cell has been uncovered in Chicago.

Financial Advantages Of Owning Your Own Business

Question: Earned Income credit $2941 in interest income, no credit?

Filing my 2007 return. I only earned $15,300 this year. Have $100,000 in savings that earned me $2941 in interest income. Worked the EIC worksheet and it said I do not qualify for the credit!! Had I earned $2899.99 in interest we would have gotten $2200 back. How can this be fair?

Why does the IRS not just deduct the $41 off the $2200? This is the most unfair scenario I’ve ever seen in the entire IRS tax code.

So bottom line, for a messly $41, I’m out $2200. Makes no sense.

Any way around this?

Answer: Yo men that is mean.

But you know who can you trust in this world even your own bank makes money on you.

Slowing Economic Growth Means Greater Focus on Economic Profit

Kenneth Hackel, president of institutional investment firm, CT Capital, has long pointed out, firms

The tightening of the credit market has been difficult on several businesses, especially the construction industry which is responsible for building our nation’s homes, corporate facilities, factories, apartments, offices, schools, roads and bridges. It is expected then that long into the New Year, contractors shall still experience a few cash flow problems associated with meeting payroll and purchasing supplies, for instance. The field of construction is categorized into three basic areas: building (to take care of residential, industrial, and commercial buildings); civil engineering construction (to take care of roads, bridges, highways and tunnels); specialty trade contractors (to work on special projects like carpentry, painting, plumbing and electrical works.) These jobs are not just about new structures, but often need site preparation, repairs, maintenance, or improvements on old projects. In addition, this industry takes care of the income and the lives of architects, engineers, inspectors, appraisers, carpenters, brick masons, electrical and drywall contractors, flooring and tile contractors and even those who are working on asphalt firms. As such, these people could very much take advantage of invoice factoring to help them get by during these difficult economic times. It is the general contractors – usually specializing in either residential or commercial building – who take care of the large chunk of the construction jobs.

General contractors are responsible for the whole job – but some of these functions are sub-contracted to specialty trade contractors. These get orders for their work from general contractors, architects, or property owners. Owners, occupants, architects and rental agents, on the other hand, directly order repair work from these contractors. Since the industry is very much dependent on economic business cycles, it’s easily affected by changes in interest rates and tax laws. For instance, a small change in state or local regulations could result to a cancellation of a job or a construction of a new project. There has been an increase in factoring among contractors during the last year, and it is helping to provide the cash flow required to pay suppliers, meet payroll and pay for insurance, even workman’s compensation. Factoring enables companies to go ahead with the project – instead of waiting to be paid – since funds given to them are acquired from their current accounts receivables. Truly, invoice factoring is very helpful to this kind of industry. Why so? Because when factoring is used, the sub-contractor, or construction company, doesn’t have to wait for payment before starting on the next phase of a project, or begin construction on a new project. Indeed, construction companies are given a quick turnaround – normally 24 to 48 hours – on their accounts receivables. With construction invoice factoring, the construction company, or the sub-contractor, can be paid immediately for accounts receivable invoices, which enriches cash flow and improves the company’s ability to start immediately on the next phase of construction for each project.

Mich. gov candidates want to change Business Tax

Gubernatorial candidates want to change Michigan Business Tax; Snyder calls for flat tax

Business Tax changes in the Budget

Don Cayo: How to estimate your 2010 property tax bill

B.C.’s 2009 property tax assessments are out. So how can you tell if you’ll win or lose when the municipal tax bills, which are based on these assessments, come out in July?