The Small Business Tax Help Blog

Question: I clean porto potties and want to open a business in that field who tax plan work best for me Obama or McCain?

I have been working and cleaning porto potties for 15 years and Joe the Plumber got me fired up to open my own business

Answer: McCain does. Under Obama, if your business makes more than 250k a year, you’ll be mandated to supply health insurance under penalty of fine, and you’ll pay an extra 5-25% in taxes depending upon how much over 250k a year you make.

Congress Should Take Up $90 Billion Bank Tax, Frank Says

U.S. Representative Barney Frank , an architect of the financial-overhaul bill lawmakers sent to President Barack Obama yesterday, said he wants Congress this year to take up the White House plan for a $90 billion bank tax to recoup government bailout funds.

Obama Explains His Tax Cut Plans To Plumbing Business Owner

Question: Missing EIN Number on W2?

I received my W2 and the (b) portion (the EIN) is missing on the form. Is there are database online that I can search to get my employer EIN number?

Answer: I guess you will be filing by mail. Try going back to the payer and point out to them that they made a mistake.

Small Business SEO: 10 Ways to Optimize an Online Newsroom

We’ve got 10 marketing strategies to help you turn your small business newsroom into a dynamic portal for your industry. And yes, that’s a good thing.

Client-side image metadata search with jQuery

Question: I’m a Canadian requiring USA EIN#, corp, and a bank account. Please help.?

I need to incorporate a business in USA, get a EIN #, create a bank account under the corporate name, and have a bank account manager deposit incoming payment checks.

I used a service before… it was anonymous incorporation type of thing. it can’t be trusted.

i am a canadian citizen with tax ID. I would like to incorporate myself somehow. (I live in S.Korea, but hoping to do this online.)

please tell me where to go. thank you infinetly.

Answer: you need to apply for it through the Internal Revenue Service, you can do it online :

http://www.irs.gov/businesses/small/article/0,,id=102767,00.html

11 Essential Online Resources for Consultants

This post originally appeared on the American Express OPEN Forum, where Mashable regularly contributes articles about leveraging social media and technology in small business.

Lentesessie 8 – Fakkel brigade – 12 Mei 2009 – 101 barz

Question: How can I estimate my tax Refund for 2009-2010?

I live in WA Im going to claim 4, we will make 35,000 this year and I am married with 2 kids. I do not own a home. I did not buy a car. I pay for daycare. 1236 since October 1st.
My husband has been deployed to Iraq since March 2009, they have only taken 68.29 out in taxes from him. They have taken 520 from me.
Any idea ion if can guess what my tax refund may be or will i have to pay back? Any chance someone can give me a somewhat simple explanation of how to calculate this?

Answer: His combat pay won’t be taxed, but you can claim it or not claim it when calculating EIC, whichever way gives you more.

You shouldn’t have to pay and should end up with something for EIC and something for the additional child tax credit assuming you file a joint return.

Tax-wise, Steinbrenner picked a great year to die

Born on the Fourth of July, George Steinbrenner left the world stage with a great sense of timing too. By dying in 2010, the billionaire and long-time New York Yankees owner’s wealth avoids the federal estate tax, likely saving his heirs enough money to field an entire team of Alex Rodriguezes.

Estimated Tax for Individuals

Question: Small Business Tax Preparation?

I started a small business this year. I don’t expect I will make a big profit, if any at all, so I don’t know if I can afford an accountant. I have been keeping my major receipts but have not been keeping my smaller charges (<$25). Is that OK as long as I keep my register up to date? If I got audited would a register be acceptable or would I need to have every single receipt?

Answer: You are okay.

As long as you have a good set of books (register), you would be fine. In case of an audit, the IRS (or the department of revenue in your state) is not going after $5 dollars of supplies, for example.

Do keep receipts/invoices for major expenditures; those would be targeted first.

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