The Small Business Tax Help Blog

Posts Tagged ‘freelance’

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Question: What is the Internet tax law for sales and use for a small Texas business?

If I am renting equipment and shipping it to different states, How do I do this tax free? Where can I find the tax law and guidelines?

Answer: I agree with the first person.

Basically, so far, on the Internet, the precendent is to charge sales tax for sales delivered in Texas if your business is based in Texas. Supposedly, it is the responsibility of the seller, out of state, to pay their own state’s sales tax on their purchases from Texas.

What you also need to be aware of is that if you are a business is Texas and you purchase products out of Texas, say from California, and you get these products sales-tax-free, you are supposed to report it to Texas (and pay sales tax to Texas) for those purchases unless you resell the products and collect sales tax on your item then.

The organization that oversees Texas sales tax is The Comptroller of Public Accounts at http://www.window.state.tx.us/taxinfo/sales

Board decides on 4 percent tax rise, retains all school programs

The Springfield Township School Board adopted a final 2010-2011 budget of $45.4 million Tuesday that will raise property taxes next year by $179.95 for a home assessed at the township average of $165,095. Next year’s millage rate is 28.348.

First Time Home Buyer Tax Credit Program, FHA Mortgage, Fixed Interest Rate Loan

Question: what will happen to tax refund?

My boyfriend made 14,000 last year on a independent contractor with no withholdings, on his tax return he said that they withheld 1167. what will happen to him? will he get his tax return? i told him they might not send it, i just want him to see other advices

Answer: In about 12 to 18 months he’ll get a bill from the IRS for about $3,650 for the taxes that he actually owes plus the non-existent withholding. Tack on about an additional $1,000 or so for penalties and interest for late payment. The IRS may tack on another 20% if they want to play hardball on this one.

If he amends his return by April 15th and pays the $3,650 that should end the issue. If he doesn’t, it’s time to drop this dishonest loser.

Labour and Employment

Facing tighter budgets and historically high unemployment levels, employers have been steadily offering an increasing number of internship opportunities with their businesses.

AQT Basic Calculator M4. Printout “Personal Income” First Page.

Question: what tax forms do i have to fill out to hire someone to coach my sports class for 1 week in california?

I own a sports coaching business and am going away and need someone to teach my classes for a week. How do i pay them? i guess they will be hired as an independent contractor!

Answer: I agree with Josh.
However, before the payment you need to have the person complete a W9. It’s basically a statement that says the person understands they are an independent contractor and their tax id (SSN or Corporate ID)

POLITICAL HOT TOPICS: Friday, May 14, 2010

The CNN Washington Bureau’s morning speed read of the top stories making news from around the country and the world. WASHINGTON/POLITICAL For the latest political news: www.CNNPolitics.com CNN: Congressman to launch inquiry on how much oil is gushing into Gulf A U.S. congressman said he will launch a formal inquiry Friday into how much oil [...]

You vs. IRS part 1

Question: Line 363 Canada Employment Amount Federal Tax Sch. 1?

okay i should probably repeat grade 7 but i’m not getting how this helps me. in the guide it states that the non refundable tax credits reduces your federal tax but if the total of these credits is more than my federal tax i will not get a refund for the difference. if i hadn’t entered the amount of $1,019 on line 363, i would be getting WAY more of a refund. as it stands, i now owe, as it’s more than the federal tax i paid. also, if you entered an income of over $1,019 (and like who wouldn’t…) on line 101 of the return, then you enter the maximum ($1,019) on line 363 of the federal tax schedule? sorry if i sound dumb, but this is the first time i’ve done my own taxes. somebody tell me how this helps me out, this line 363 amount, thanks!!
actually, i checked it over and it was just my calculater display that screwed up and missed a number….so yes, with the $1,019 included, i saved $150, wooohooo! now i only have to pay $6 instead of …. well you do the grade 5 math, lol

Answer: >>if i hadn't entered the amount of $1,019 on line 363, i would be getting
>>WAY more of a refund

This is impossible.

Either a Non-Refundable Tax Credit reduces your taxes by 15% of the line amount (in this case 15% x $1019) (see line 38 of Schedule 1), or they are more than the total tax liability, in which case they do nothing since line 23 can't be negative.

It's actually grade 5.

U.S. Census Underway; Workers Needed Locally

On Monday, some Charleston residents started to receive their 2010 Census forms, nearly two weeks in advance of the rest of the nation.

John McCain: Town Hall 04/30/08

Question: Does anyone know what import tax I’ll have to pay when buying small amount of jewellrey off ebay?

I’m buying from the USA, only cheap (about $5 each), but I’m buying about 10 at a time. I’m in the UK.

Does anyone know what import tax I’ll have to pay, and if there is a minimum weight or cost that will help me avoid paying tax? I’m not a business, just addicted to gemstone jewellrey!

Answer: Import Duty and Excise Duty

All goods, new or used, imported into the EU from outside the EU are subject to Customs Duty (Import Duty or Import Tax) and VAT (Value Added Tax) according to their value and import tax classification. All goods imported into the UK from outside the EU must be declared to HM Customs & Excise and in most cases this includes goods bought over the Internet.
» HMRC Customs Procedures

Business : Cutting UK company tax costs 3.5 bln sterling

BRIGHTON, England - Cutting British taxes on company profits would cost 3.5 billion pounds ($5.3 billion) each year, but it can be paid for by scrapping some Business Tax reliefs, the opposition Conservatives said on Sunday.

Colin: A new kind of Superhero