The Small Business Tax Help Blog

Posts Tagged ‘entrepreneurship’

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Question: I want to start a tax prep business?

I’m still in college but have a good basis for filing tax return. I wanted to start a small business on the side to generate some income to pay for my outrageous student loans. I was wondering if you can steer me in the right direction of how to build such an idea.

What are typical startup costs?
What are basic tools needed?
Can I work out of my basement?
How do I market?

Any information will do

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City to offer free business seminars

If you'd like to learn some basics about running a small business, the city of Las Vegas is planning another series of free seminars in February.

Small Business Basics : Registering a Car to a Business

Question: If govt aid can help bankers and train companies, why not the thousands of small petrol stations closing down?

It’s getting very hard indeed to buy petrol in rural areas, petrol stations closing down will mean country drivers being stranded. Considering that those businesses have for years been collecting tax on every gallon sold, isn’t it time now for government help?

Answer: Government aid is not being used for the East Coast rail line. The franchise is being taken back into state ownership and no companies are receiving money.
That is the way it should be for me. No petrol stations or any other business should get government funding - when they do everyone wants a piece of the action and everybody thinks they have a good case. there is not enough subsidising money to go around, leave it to free enterprise and market forces to sort it out.

Chamber center hosts training

LAKE IN THE HILLS – Sponsors of the Small Business Center at the Algonquin-Lake in the Hills Chamber of Commerce will conduct a tax and e-mail marketing training event at 9 a.m. Tuesday at the chamber office, 2114 W. Algonquin Road.

Shepard Smith-Thanks for Showing how 'Joe the Plumber' is Crazy & Dangerous!!!

Question: Do I have to pay unincorporated Business Tax?

I live in NYC, my friend who also is a freelancer and works from home , he said he never paid this tax before.
However, my acct’t filed this tax and it’s like 4% of my income which is a lot considering I’m already paying over 30% in federal and state. Please HELP!

Answer: You would need to file a NYC UBT tax return if your business meets either of the following criteria:

It has a total gross income of more than $75,000, prior to any deduction for the cost of goods sold or services performed; or
It has an unincorporated business taxable income of more than $35,000

Mayor Bloomberg Calls For More NYC Startups At TechCrunch Disrupt (update: transcript)

Today, TechCrunch Disrupt attendees were treated to a very special guest: New York City Mayor Michael Bloomberg. Bloomberg addressed the audience of entrepreneurs, urging them to make their way to New York City to start their next venture. As he put it, " When you want to start a business, you don't have any choice. This is where the best and the brightest are ." Mayor Bloomberg also announced ...

Comptroller Thompson on UBT reform

Question: Does anyone know a lender or investor that can help me with a start up loan with no resources and bad credit?

I do have my business plan. I got help with it from a member of SCORE from the SBA. I am trying to build a restaurant. Yes it is new. A building has come up for sale that would work to become established. I do not have the money to invest of my own. I need either a 100% start up loan or a combination of loans. A private investor or even a co-signer for future pay on considered investment. I don’t how this could be done. I have some ideas but getting a lender to them is another story. If I could come up with some money, I might be able to get the owner to carry a portion. The building is on a 21,166 Sq. Ft. Paved corner lot. The building is a free standing 3,028 Sq Ft. Structure built in 1973. Yearly taxes are $5,315.00. It is anchored. Price $415,000.00. I am trying to get a $500,000.00 loan to remodel, equip, stock and get the place open with operating capital and a very small cushion to start making repayment. I do have experience in this as well as Management exp. from previous.

Answer: I think your time would be best earning money and repairing credit for now. Not bank is going to finance you 100%, and a personal investor is going to want some collateral. Put yourself you their shoes, would you invest in a company the owner has not stake in himself? Especially a risky small business like a restaraunt?

I am in the same position as you are, and I have about 40K left to go before I can launch. Instead of wasting time trying to start now, spend the next couple months working as hard as you can to gain capital to invest. Not only will you have money to invest, potential investors will take your initaitive into consideration as well.

Prepare, Click, Send: Tax Filing Season Kicks Off Today

SAN DIEGO----Tax filing season officially opens today as the Internal Revenue Service begins accepting electronically filed tax returns. If recent trends continue, 2010 will be a record year as more people use their home computers to prepare their tax returns and file them electronically.

Even Investment Losses Can Save You Money