The Small Business Tax Help Blog

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All Dates for this Event:

MARTIN LUTHER KING JR. PRORAM: The Minot YWCA is sponsoring a “Martin Luther King Jr. Day Celebration of Life and Volunteer Fair” Jan. 18. Refreshments and a volunteer fair will be at 6 p.m., with the Celebration of Life, including music, dance and an inspirational presentation, at 7 p.m., in Minot State University’s Ann Nicole Nelson Hall. Call 838-1812 for more information.

Session 6: Starting Costs

Question: How do i figure out how much i’m getting for Earned Income credit?

I’m trying to do my taxes myself-Well its an Amended return and i’m trying to see how much i’ll get for my EIC. How do i figure it out or is there a chart or something i can look at? if someone could get back to me right away i would appreciate it!! thank you!!

Answer: http://www.irs.gov/pub/irs-pdf/p596.pdf
Page 44-52.
Find your AGI and match it up with your filing status and theres your number.

Robert Peston

What bonus questions would you ask bankers?

Do you need tax help? Do you need help with the IRS or state and need someone to save you? Or is tax season coming around and you didn’t like the job your last tax preparer did? Maybe you just don’t have time to do it yourself anymore, or this is your first time? How would you go about to find the perfect tax professional?

First we must consider what the “perfect tax preparer” is. What do you want? Everybody wants at least three things from a tax professional:

Of course, in this economy, most people don’t have money to spare! That means that most likely, you want a fourth thing from that tax professional. But of course, you want your dealing with that professional to be pleasant–as unpleasant as taxes are. I know. When I got that first paycheck…”WHAT??? I lost 10% of my paycheck in withholdings to the IRS?” So lets add to our list:

How do you find that “perfect tax professional”-The Perfect Tax Professional is honest and fits the guidelines above. Here are some tips.

Now that you know what you want, its time to search, It’s well worth it to get a trustworthy tax professional that you can use for years to come. You must decide whether you want to use a big tax company, or a small one. Small tax companies can; but not always are; more personal and less expensive. They may not be as reliable or quick as a larger entity however. If you happen to have tax professionals available locally, check them out first. There is nothing quite like that same-town feel.

Since you want your tax problems solved right, quickly and confidentially, you need to find an experienced and trustworthy profession or firm. Because you want a pleasant and personal, after you find several professionals with good client testimonials and 10+ years of experience: visit or call them up and inquire about their services. If they or their staff seems friendly and knowledgeable, mark them as your potential preparer. Talk to their clients, if possible, and see what sources recommend them.

If you’re looking for someone online, look at their web page. If it has blatant advertisements, or exaggerated self-promotion, move on. If the tax professional has a video they did themselves, watch it so you can get an idea who is behind the email or phone. It’s common sense! Ask yourself “Does this company look like one I want to deal with, one who may fit the bill above?”. Of course you probably want to check out their prices as well. If the prices aren’t listed contact them and ask.

You can also use free tools like Macafee site advisor (check site report) to check what the web page is linked to. If the web page is directly linked to all kinds of other tax sites, one company or person probably owns them all. Move on. Don’t trust companies that link to bad or dishonest sites either.

I commend you on your wise decision to help yourself and save yourself trial and hardship in the future.

Recent Tax News

County reopens its grant program to help small businesses

location Miami-Dade CountydnewsNORTH MIAMI-DADE It’s that time again to apply for the Mom and Pop Small-Business Grant Program, which assists small ventures with less than seven employees by giving them up to $5,000.

Ranking Member Sam Graves (R-MO) speaks on House Floor about the estate tax and small business

Question: Help! can you please tell this in a police station, this might be an scam coz I received an email that I won..

but they’re asking for my credit card number….

Click here to play FreeLotto now:

http://www.freelotto.com/offer.asp?offer=90270&FID=98e836547618

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Answer: NO legitimate lottery would ask for your credit card number. Surely you"re intelligent enough to know that, aren"t you?
This is a SCAM!

Hunter classes slated for Northwest Montana

Spring Hunter Education Classes have been scheduled for some communities in northwest Montana.

Question: 1099 Tax question, vs business?

I own a business and is making decent money, but I find myself with a lot of free time. There’s is this good internet company looking for employees ( sellers ) as a 1099 on a commission bases, my question is this. If I decide to work from them on a part time bases, and make less then a few hundred dollars a month , Do I still have to file taxes on that income? Will my 1099 effect my Business Taxes?

Answer: You are required to report all monies that you make on your tax return whether or not you receive a 1099. If you make more than $400 the company should issue you a 1099 and it is reported to the IRS.

How to pick a tax preparer: Steps to take to protect yourself

If you ask your barber for a trim and end up with a buzz cut, your hair will grow back in a few months. But if an inept tax preparer makes a hash out of your tax return, the repercussions could haunt you for years.

Small Business Owner Questions 8% payroll tax