The Small Business Tax Help Blog

Tim Ash – every page is a landing-page – SES Chicago 2008

Question: CA tax return 540, line 38…Real Estate Withholding. Form 593-B and 594. Can anyone explain.?

since my mother pays taxes on properties, does line 38 apply?
[She did not sell any real estate]

Answer: No, it only relates to sales of real estate.

More info:

http://www.sfaa.org/0710schultz.html

Analysis: Recent California newspaper editorials

Aug. 4

Tax Tips & Information : About W4 Tax Withholding Forms

Question: ACCOUNTING HELP..A General Ledger for month 1 to 31st march is being made?

where do dese go

6.Depreciation. A standard depreciation amount of $350.00 for Equipment, Furniture & Fittings and Motor Vehicle is applied each month so that the monthly and year-to-date profit figures are more accurate. This amount is posted as a Debit to Depreciation Expense and a Credit to Accumulated Depreciation.
7.Cash At Bank. A download of the bank statement showed that all cash receipts and payments had been processed. One item not yet accounted for was Bank Charges of $28.00. GST is not charged on this item.
8.The owner, James Hing, drew out $1000 in March from the business for personal expenses.
9.Entries for Depreciation and Drawings are made through the General Journal and worksheet.

END OF MONTH ADJUSTMENTS or DURING THE MONTH and CLOSING

for more details on the assignment go2

http://dayalaman.250free.com/ICCAcctAssignment_a06.htm

Answer: 6) Debit the Depreciation expense by $350 and credit the Accumulated depreciation also by $350.
7)Credit the cash at bank account by $28.
Debit the drawings account by $1000

(Personal Finance Budgeting) – GET YOUR FREE SOFTWARE HERE

FeinSearch.com – Identify & Verify consumers and Business as well as OFAC / PEP Clearing, EIN Search

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