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Archive for August, 2010

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Question: IF this is true, what do you think will happen if HIS (SWT) neighbors turn in 0bama (SWT)?

Rats! City to Pay for Informing on Tax Cheats
The reward would amount to some sort of percentage
By ANDREW GREINER
Updated 9:27 AM CDT, Tue, Oct 27, 2009

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You dirty rat.

Chicago and Cook County residents aren’t the only ones about to get shocking tax news; the city is debuting a “tax whistle-blower” plan that could turn neighbor against neighbor in Chicago’s business community.

The folks at city hall will pay cash bounties to informants who turn in Business Tax cheats around the city. The reward would amount to some sort of percentage of the tax money that the city recovers.

“It’s just another way of bringing people into compliance,” Revenue Department spokesman Ed Walsh told the Sun-Times.

http://www.nbcchicago.com/news/local-beat/A-City-of-Stool-Pigeons-66367287.html

Answer: So the government is telling it’s citizens to rat each other out now?

Sure hope this doesn’t go federal, then we could be really screwed. (more so, of course)

BUSINESS IN BRIEF 18/8

The Cuu Long Joint Operating Company said it has discovered oil and gas at the Su Tu Nau (brown lion) 3X oil field off the southern province of Ba Ria-Vung Tau .

Luscombe: Year-end Tax Planning for 2009

John F Kennedy – Ich Bin Ein Berliner Speech

Question: Expense Write-Offs for Small Business?

As the owner of a small business, which is a Sub-chapter S corp, can I write off massage therapy? I am a Dentist. If I got massages for staff, it would be a business expense I think, but what about for myself?

Answer: I doubt massage therapy is an essential expense for a business. It may be considered a personal medical expense if you have some sort of condition that requires it. You best check with a good CPA before you try and get this by the IRS.

Dearborn Bancorp Inc. Reports Operating Results (10-Q)

By 10qk. Dearborn Bancorp Inc. ( DEAR ) filed Quarterly Report for the period ended 2010-06-30. Read more » »

Write off Entertainment Expenses! Have Fun while reducing taxes!

Question: Small Business owner Resignation?

I have a small business in Canada with a partner. I have been out of Canada the past two years, and I don’t know what has been happening in the company, I am resigning as President and Director of the Company now threw a notary public and alll papers are ready to be signed. Well this be a problem for me in anyway with Goverment or Taxes or anything else or am I exempt from everything in the company and I have nothing to do with its past or future?

Answer: The past might be a problem and would be up to a judge, but you’re free and clear for the future.

If the past ever made it into court, they would examine whether you knew or should have known what was going on. If your partner was up to something underhanded and was very good at disguising it, you would most likely not be considered liable. As partner, you had a certain role that carries certain expectations of knowing what’s going on in the company, but again if your partner was careful and you weren’t just turning a blind eye, then you’re 99% okay.

Canada existing home sales fall, sales tax blamed

Canada existing home sales fall, sales tax blamed

Tax in Canada