The Small Business Tax Help Blog

Archive for the ‘Business Taxes’ Category

Question: I need to send my laptop to San francisco from mtl, and pick up it myself. what the best ?

Hi, this is my business laptop with security software on it. Im leaving Canada for australia. But meanwhile, im going for a bike trip from Vancouver to SF, and dont want to carry the laptop with me. What would be the best solution for shipping my laptop to SF, SAFELY, and pick it up there myself ? ( i would then catch a plane to australia)
By the way, its really used laptop, any fees , taxes to pay ?
Would he be better to shift directly to australia ?
Thx for your help!

Answer: Take it to a mail service store like Fed-ex or UPS . they can pack it ( so its arrival in good condition will be guaranteed.) They should also be able to answer customs questions.

Hydro bills need fix, feds say

Thousands of Ontarians are being incorrectly charged for electricity because of a system glitch.

What is SR&ED? The MEUK solution!

Question: does a new small business need to file taxes no matter how much money it made, if any money was made at all?

how would someone file taxes that ownes a small business (on the side type of business only 3 hours a week that made very little) and works for another employer (day job)

Answer: Call the IRS. They’ll be happy to discuss the matter.

Uganda Plans Amending Income Tax Law To Tax Oil Revenue

Uganda Plans Amending Income Tax Law To Tax Oil Revenue

Tax Deduction Tips for Businesses : Filing Taxes with Capital Gains

Question: How much Taxes do I owe?? My total 2009 income was $97,000 I paid $20,000 in taxes -?

I have 3 kids all below 17 and a non working wife. Paid $2,500 in house taxes, contributed only $2,000 to my 401K. I have a bad debt of $6,000 for a business that went dead this year and I am not quite sure how to write that off yet! Will I be in the 15% bracket or the 25%?? What is my estimated return and what are the rules for the bad debt??
Additional Details – the state is Missouri
FEDERAL W/H $ 10,040.88
FEDERAL MED/EE $ 1,157.33
FEDERAL OASDI/EE $ 4,948.59
Missouri W/H $ 3,601.00
The business went dead in 2009.
I only claimed 1 exemption all year round.

Answer: There is a tax calculator on turbo tax.com and they got my return dead on. Try it out, good luck!!

To Fix Mortgages, Rein In Borrowers

One way to untie the knotted American mortgage market might be to stiffen the rules on home loans.

4-15-2009 Kingsport, TN Tea Party Tax Protest (PART 1)

Big profits for smugglers of Tamil migrants: Toews

Public Safety Minister Vic Toews says that the nearly 500 Sri Lankan migrants who came to Canada last Friday aboard a rusty cargo ship paid as much as $50,000 apiece for the trip.

2010 Canadian Economy in Turmoil

Question: Why did my federal withholding decrease?

I’m doing my taxes this year, and when I’m done I realize I owe federal $2,500. Last year I owed only about $500. In reviewing both my wife’s and my W-2’s, I found that the federal withholding was significantly less for both of us than it was last year. Anybody know why that would be? Both my wife and I has similar incomes as the year before, well under $250,000. Does that mean I now have to calculate a penalty?
Same salary, didn’t change the w-4’s. Wierd, huh?

Answer: Because of the stimulus, last year beginning in April less taxes were being taken out of everybodys paychecks. Should have only added up to $400 per person, but if you had multiple jobs it could have been happening to every paycheck. That was a big fault in the program. Also, did you do anything with your W4’s? And yes, you’ll have to pay an underpayment of tax penalty. Won’t be too much though (definitely under $100).

And yes, you will pay a penalty. The second answerer doesn’t seem to think so but you will, because you didn’t pay enough taxes through out the year. Thats how it works. It goes on the second page of your form 1040.

Related Information

1.1.1. Income Tax Rate. The general statutory corporate income tax rate for entities incorporated in Argentina including branches or permanent establishments of foreign companies is 35%.

Former IRS Agent Acquitted of Tax Crimes