The Small Business Tax Help Blog

Posts Tagged ‘business tax advisory’

Vancouver seeks new lodging tax committee member

The City of Vancouver is seeking applicants to fill a vacancy on the Lodging Tax Advisory Committee. The committee is a sevenmember body that makes recommendations to the Vancouver City Council regarding expenditures of the city’s lodging tax revenue.

Doing Business in India

Question: Need to find an answer to tax,social security,and being a ltd co?

I will be a self employed morgage advisor In July.
I am also a self emp counsellor which brings me in some income.I also write which todate i do foc but that will not always be the case.The social security bit comes in becauseI am also a single parent job centre advisor that the optimum salary would be £150.00per week to earn more will be financially detrimental, (tax credits childcare
etc) Being self emp obviously means that i cannot guarantee that my income will not from time to time go over the £150.00pw threshold. However if i am allowed to operate as a Ltd Co then i have certain degree of control i.e.when money is less than £150.00pw I pay myself out of reserves, when money goes over the £150.00pw then as a salaried empoyee i pay myself £150.00pw and surplus goes to reserve. Also i want to obtain insurances eg life cover phi out of business costs not net income, i have contacted a/c cos but they are always vague. Can i operate in this way without loosing benefits?

Answer: Two things here:

Firstly you can operate your business like this, paying yiuseld a salary and retaining the rest within the business account and deducting business expenses

Secind thing is about the figure you have quoted, you have not mentioned which benefits you are interested in, but I will assume Tax Credits and Housing/Council Tax benefit as 150 per week would barr you fromeverything else. As you don't give any details etc of how many children you have an exact forecast is difficult, however, 7800 p.a. seems very low in comparision of what your earning potential could be.

May I suggest that you get a proper (ie in writing) Income forecast 'better off' calculation from the Jobcentre plus or even better from an independant advice centre like Citzens Advice who would be able to give you a clearer picture of how to maximise your income.

Sales tax collections and retail see slight lift at end of the year

November sales tax collections in the city increased near 1.3 percent from the same month in 2008, according to figures released by the state comptroller. The city collected $4.09 million in November.

small Business Tax Advice -p1 -Ben Loggins