The Small Business Tax Help Blog

Question: Will Arizona’s new immigration law have a positive or negative economic impact on the state?

Most patriots agree that the law was the right thing to do. However, whether it will have a positive or negative economic impact has not been determined. While getting rid of the illegals will lower the tax burden and cause more real Americans to move to Arizona, there are reports of large numbers of hotel cancellations, and that the cities of Los Angeles and Washington DC are no longer doing business and divesting from all Arizona based companies.

Do you think that the rule of law will stand or will liberal economic blackmail rule the day?

Answer: Stop and think for a moment, the present cost of supporting illegal immigrants on the State of Arizona is what everyone seems to be ignoring. Let’s start with schooling, both elementary and high school, the cost of maintaining the court system and the jails and prisons, not to mention the cost of hospitals and clinics. And let’s not forget how have the cities of Los Angeles and Washington D.C. help support the State of Arizona, I ask you? Let me ask you, you address the supposedly large number of hotel cancellations, would you want to go to Arizona right now under the present circumstances, I don’t think so, do you? And let me ask you how many booking were the cities of Washington D.C. and Los Angeles generating prior to the passing the new immigration law? I really don’t think there were that many, do you? And as for business, I really don’t think either city was doing very much business if any with Arizona, but do correct me if I’m wrong. I think the rule of law will prevail and I also think that honest businesses will start moving back to Arizona as well as Americans looking for a good place to live!

Raul A. Reyes: Supreme Court Misses the Mark on Legal Arizona Workers Act

Arizona’s law has not been shown to reduce illegal immigration. In 2008, the first year it was in effect, state income tax collection dropped 13%. But sales tax revenues on food and clothing remained fairly steady.

AZ_FILM_TAX_INCENTIVE_LG_V2.mov

XELO II plc – Notice

XELO II plc – Notice

House Session 2011-05-10 (20:12:34-21:14:00)

Question: does an ein # give new credit line?

if a person where to apply for an employer identification #, would this open a new line of credit that would not be effected by that persons ssn or personall credit rating?

Answer: Nope, that won’t help you. The EIN would just be added to your credit record as another identifier, that’s all.

If you are starting a business, the business would have its own credit rating. Since there are no records to begin with, the credit rating would be very low and you would have to personally guarantee any lines of credit extended to the business. At that point, your personal credit rating would come in to play.

Ignore the scamsters who tell you that it will help. They’re full of dog droppings.

Die besten Lateinamerika Aktienfonds

Die Fondsmanager der besten Lateinamerika Aktienfonds haben exklusiv fünf Fragen zu den Bewertungs-Kennzahlen, den wichtigsten Elementen im Investmentprozess, sowie den Gewichtungen, Performances und dem Marktpotenzial beantwortet.

Welcome To Business Credit Spot

Question: When to start paying income tax on self-employment?

Obvious answer is Jan 31st and July 31st!

But if i started self employment on July 2007 am i correct in saying that i return tax forms in 2008 and start paying in Jan 2009 and July 2009 for the tax year 2007-2008

Cheers!!!

Answer: 2008 tax return will be issued in April 2008
You have until 31 January 2009 to file this return
Tax on your income for Year ended 5 April 2008……..that is your income from whatever source from 6 April 2007 to July 2007 and your income from self employment from July 2007 to 5 April 2008………..is payable on 31 January 2009.
If this amounts to more than £500 then you also have to make payments of tax on account for the 2008/09 tax year.
The payments on account for 2008/09 assume that your tax bill for that year will be the same as that for the year to 5 April 2008.
The 1st payment on account for 2008/09 is also due for payment on 31 January 2009.
The 2nd payment on account is due on 31 July 2009.
As an example:
If your tax for the year to 5 April 2008 amounted to say £4,000 then the payments of tax due would be:-
On 31 Jan 2009……….2007/08 tax……£4,000
Plus 1st payt on a/c for 2008/09………£2,000
Total payable 31 Jan 2009………………£6,000
On 31 July 2009 you would have to pay your second payt on a/c for 2008/09……..another £2,000.
The payments on account for 2008/09 are of course taken off your tax bill for 2008/09 and only any remaining balance would have to be paid on 31 Jan 2010 (along with a 1st payt on account for 2009/10)
Hope this helps.

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A TR reader has brought this particular thread posted on the Singapore Expats Forum to our attention: http://forum.singaporeexpats.com/ftopic76786.html Apparently, an Indian national by the nick, skumars25, posted there on 25 Feb 2011 asking for advice: Dear friends, I have already worked in singapore with an employment pass for 3 years during 2001 to 2004. I have a …

Ottawa broke law in financing EI (Former Liberal Government)