The Small Business Tax Help Blog

Archive for May, 2010

Question: Are you really getting a tax cut from Dear Leader?

Do you realize that the “tax cut” that BO has created is nothing but a lie? It is not a tax cut. That would mean someone paying less money to the government. All he’s done is spread the money you get every year when you file your return over 52 weeks.

So, if you’re used to getting a $500 return, you’ll probably owe $200 on April 15.

He adjusted the withholding tables so that you’d get a little more each week and be stupid enough to believe that you’re getting something.

Don’t believe me? Wait until 04-15-2010. You’ll see.

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Answer: And “keeping more of your own money” is bad how?

The government doesn’t give me free loans. Why should I give them one? Perhaps a source for these claims?

Dean Foods Reports First Quarter 2010 Results

Dean Foods Company today announced that for the first quarter 2010, the Company earned $0.24 per diluted share, as compared to first quarter 2009 earnings of $0.48 per diluted share.

Ron Paul’s Texas Straight Talk 2/22/10: Government Stimulus, One Year Later

Question: Does anyone know how much H&R block will charge to file taxes for a VER SMALL business? Does anyone file?

their own Business Taxes? What do you do?

Answer: We used them the last few years for ours. It varied from $150-$250 depending on the paperwork we had to submit.

Greatland Announces Record Increases in use of 1099 and W-2 Forms, Electronic Filing Products for 2009

GRAND RAPIDS, Mich., May 12 /PRNewswire/ — Greatland, one of the country’s leading providers of W-2 and 1099 products for business, today released its 2009 tax year reporting statistics, noting substantial increases in the use of both general and electronic filing products and online filing technology, compared to 2008. Companywide, Greatland and its subsidiaries recorded a 6.5% increase in …

ObamaCare Hits Families and Small Businesses With Tax Hikes, Costly Regulations

Question: I wish I could move to another country as easily as illegal immigrants can move to the United States!?

Illegals can move here and get amnesty and the United States government either supports it or overlooks it. Other countries do not allow this. I would dearly love to leave the US for Canada, Australia, or the UK.

The US government is simply a corrupt country that is increasingly run by big business and does not look out for it’s legal citizens. We have sorry health care, tax breaks for the rich corporations and over-taxation of decent working people.

Unfortunately, the US has only two viable political parties, both attuned to their big-business allies and special interests. The electoral system is set up so that other political parties and/or independents are squashed.

I want outta here! I want decent health care, a fair tax system, and for my vote to count!

Instead, the illegals are getting all the benefits and I am paying for it.

Answer: You’re going to move to another country and get to vote? Right…

I think it will be funny when you get to one of those other countries and find out they are just as corrupt. Oh, by the way, the top 10% pay something like 80-90% of the taxes here. The bottom 40% pay almost nothing. What are you bitching about? Would you rather pay 40% more of your salary to taxes to pay for healthcare and other “free” luxuries of those other countries? Just go get insurance and find a decent doctor, moron. In the UK you don’t even get to vote for the candidate, you just vote for the political party and they select the leadership. You must be one of those people that blames America for all of your problems when the reality is that the problem is too many people like you in America.

Catching Australia just got easier: Andrew Bascand

May 13 (BusinessWire) – Australian tax policy just made it easier for New Zealand to catch the “lucky country”, says Harbour Asset Management managing director, Andrew Bascand.

Trust cloning – no more tax breaks?

Question: Why do some owe money and others get a refund for their taxes?

i file my taxes every year no matter how little i make but i still dont understand how doing your income taxes work. how come some of us owe money and others get a refund? if there’s an amount in the federal withholding doesnt that mean you should automatically get some money back? my boyfriend has worked part-time at the same job for more than 3 yrs and he some how has owed money to the IRS every year. how come he gets nothing back? in what conditions will one owe money and in what conditions will one get a refund?

Answer: This s very complicated. When you get hired, you are required to fill in a Form-4. Witholding is done according your no. of exemptions. The tax tables take into consideration you are working for a full year thus the witholding amounts. If you filled out your Form-4 truthfully to match your tax returns and you worked less that a full year even if you file a short form (no deductions), chances are you will always get a refund. Also the tax tables are set up that we pay as we go and there is a cushion to avoid you from having to pay with you tax returns if all you have is personal-service income.

Your boyfriend probably lied on his W-4, so the amount witheld on his part-time job is in-sufficient if he claimed exemptions incorrectly. Even part-time one can earn a substantial income. If he has filled out his W-4 correctly then the question is that he probably has other income that gets reported and he dosen’t understand that one is taxed on all their income unless it is deived from tax-exempt sources.

Example; One works part-time, let say 3 days a week (21 hours) for a full year and makes about $500.00 a week, has no dependents but claims 2 or 3 exemptions, that person is going to be underwitheld. Part-time does not always mean a small amont of money being earned. It means you are not a full time employee and you have no benefits maybe and/or is hired to perform duties that are performed in a way that does not impact anyone else in your absence or limited capacity. The flip side, this person claims no 0 dependents, they are definitely going to get a refunds from both the Federal and State.

Hope this clears it up a bit for you.

Building on our strengths to create a secure future

Climate change is among the challenges the Treasurer aims to address in this budget.

Taxes: Adjusting Your Withholding

House, Senate leaders OK tentative deal on school retirement plan

State House and Senate leaders reached a tentative agreement on a plan to nudge thousands of teachers and other school employees into retirement.

Bipartisan Meeting on Health Reform: Part 2