The Small Business Tax Help Blog

Archive for February, 2010

Question: When and how do i receive certificate of authority SALES TAX from NJ state division of revenue?

I did new busness registration on line 3 weeks ago ..i got corporation number and EIN… I need certificate of authority nj sales tax business registration certificate.. ( that certificate i have to display at business location, ) How do i get it..???? i have not received yet… please advice..

Answer: sales tax? did you apply to your state dept for that activity?

Broomfield upcoming events -- Feb. 14

Upcoming events in and around Broomfield

Contractor Insurance cover, complete cover offered by Tarpon

Question: Business Taxes and expenses?

Hypothetical Situation here
Let’s say I start a business and have it formed as corporation or Limited Liability Corporation. and I was pulling in 100k a year in revenue before any deductions. How much tax would I need to pay from that?

Now using that same information what if I were to make donations to charitable organizations in the same amount I owe in taxes. Would this automatically offset causing me to pay nothing to the IRS because I am donating this money?

I am just trying to figure out how to legally beat the system and to pay the IRS the least amount possible. I figure if I have to give up my money it mind as well be to some organization that actually needs it right?
This is part of a school project and your input is appreciated.
Assume we are talking about only federal taxes.

Answer: there are several ways to reduce your current taxable income. a huge tool is retirement funds. a SEP-IRA usually lets you stash away the most amount of money. the catch is that it reduces your current years' income but when you use it at retirement, it is all taxable. after retirement plans, then donations and other business expenses will also come into play.

the only way to not owe anything to the government is to take a loss, but then what is the point of running a business that's not profitable

Microtune Announces Fourth Quarter and Year 2009 Financial Information

PLANO, Texas----Microtune®, Inc. today reported preliminary unaudited financial information for the quarter and year ended December 31, 2009.

What's going on? Watch & Decide for yourself.

Budgeting and Tax Advice for the Self-Employed

Start by squirreling away cash. Then prepare a business plan and budget—and understand what’s involved in paying taxes yourself

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Question: Since when did “it doesn’t affect you, so why do you care?” become a valid argument in favor of gay marriage?

Here is a list of other things that don’t personally affect me, and yet I still vehemently oppose them:

abortion
legalized drugs
domestic violence
slavery
employment discrimination based on race
housing discrimination based on race
white-collar crime
tax evasion
identify theft
child molestation
child pornography
dog-fighting
cock-fighting
other forms of animal cruelty
crimes against humanity in places like Darfur

I could go on and on … the point is that just because something doesn’t affect me personally, doesn’t mean I have no right to oppose it.

That includes opposing “gay marriage” — which, by the way, is an opinion that I share with a solid majority of Americans.
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Answer: I agree with you 100%. And I think you have a great argument (that apparently the other posters didn't fully understand). You are talking about the fact that supporters of gay marriage tell us "it doesn't affect you, so why do you care?" Can you imagine a world where no one cared about the issues that didn't affect them personally? I also agree that there are still a lot of Americans who oppose gay marriage.... otherwise it would be legal, right? I don't know many people who who vote to make gay marriage legal.

Now lets wait and see how many thumb downs I get Bring it on

Redknapp in court on tax charges

Tottenham Hotspur manager Harry Redknapp appears in court charged with two counts of tax evasion.

ACORN Employee's Busted For Promoting Tax Fraud and Child Prostitution !!!

Question: I have been waiting for an EIN number for my new business and it has been over a month?

I have been waiting for a federal tax id number after sending in the paperwork over a month ago. I called 10 days ago and they said I just have to wait. Does anyone know how I can find out more information or get this number faster?

Answer: Who did you apply with? Sound fishy to me.
The IRS can give you an EIN instantly by applying online or by calling 1-800-829-4933.
If you fax an SS-4 form it takes about a week. Two weeks if you don't include a return fax number.
Mailing an SS-4 can take 4-5 weeks.
Getting an EIN from the IRS is free.

T-Mobile Celebrates National Small Business Week Offering Small Businesses with Affordable New Plan, Innovative ...

T-Mobile USA:

Chorweiler / Seeberg Ghetto..