The Small Business Tax Help Blog

Posts Tagged ‘money’

If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!

Question: What percentage of top 2% earners that want their crazy tax cuts to continue are actual small business owners?

50? 10? .5?

Answer: We all want our “crazy tax cuts” to be extended.

Corporate Tax Cut BS Exposed

Question: How can I sort dates using excel formulas?

I’m trying to create a expense report for my small eBay business. Where I enter each item , date purchased in numeric form (11/07/09) Then the cost say $7.00. My problem is I want it to summaries on a separate tab the month and cost. So if I enter a item on my expense sheet and the date column is 11/07/09 and the purchase price is say 7.00 on a separate tab it will enter the purchase price in the November column and keep adding all purchases for that month. So basically what ever date i input for in numeric form on my expense sheet it will update on another tab that months expenses. so I have one box with a month and underneath it a running tally of that months expense.

Thanks so much

Answer: I would recommend you make a Pivot Table. This is what they are designed to do.

For this example, in A1 put “Date”, in B1 put “Price”, and in C1 put “Month”. It’s important to have column labels for the data when you make a pivot table.

1st: On your expense sheet, you want to create a column that has just the month of the date. This will make the Pivot Table much easier to build. If your dates are in column A and the prices are in column B, put this in C2 and copy it down column C
=TEXT(A1, “mmmm”)
This will put the month of the date from column A in column C.

Now select columns A to C

Select from the menu Data Pivot Table or Chart Report
Pivot Table wizard:
Step 1 of 3:
-Microsoft Excel List
-Pivot Table
Next

Step 2 of 3
-Range: Sheet1!$A:$C
Next

Step 3 of 3
-Existing Worksheet: Sheet1!$A:$C
Click the “Layout” button
-Drag “Price” to the Data area
-Double-click on “Count of Price”
–Select “Sum” and OK on the “PivotTable Field” dialog.
–”Count of Price” should now be “Sum of Price”
-Drag “Month” to the Column area
(-Optional: drag “Date” to the Row area if you want to list each item for each month.)
- – OK

Click Finish on the Pivot Table wizard.

Pivot Table formatting adjustments:
- Click the “Month” drop-down and un-check the “blank” checkbox
- Right-click anywhere on the Pivot Table and select Table Options
- – Un-check the “Grand totals for rows” checkbox
- – OK

Done

Note: when you add more data to the expense sheet, you will have to right-click on the pivot Table and select Refresh Data for the new entries to be included.

lynda.com: Excel 2007: Creating Business Budgets

Question: Small Business Owner – Tax Filing?

I started a business at the end of 2006 in which I purchased a few thousand dollars of equipment and supplies. I didn’t provide any services or collect any money until 07′….can I write off some of my business expenses on my return for 06′ even though I didn’t actually provide any services until 07′?

Answer: You have to capitalize those costs.

Capitalize means you combine those costs into an asset called “Organization Costs” and you amortize those costs over fifteen years (180 months). You capitalize because you have no revenue to take these expenses against in full this year.

If your startup costs are under $50,000, the law does allow you to write off $5,000 and then amortize the rest over 180 months, or 15 years.

The H&R Block guys are not necessarily the best. I audited many returns and assessed a lot of tax on H&R Block returns. . .

Minimize Taxes by Maximizing Expenses- Business Tax Reduction Tips

Question: Am I paying the right amount of Tax an NI?

I earn £18,000 per year and I am in full time employment, Mon-Fri, 8:30-5:30. I get a payslip every month for around £1,145.00 after Tax and NI. I have no loans, or any other outgoings that might be deducted from this figure, so can someone please tell me if I am getting the right amount, as I have checked online and I have worked it out that I should in fact be getting around £1,180. My tax code is 527L.

Can anyone help to confirm the correct figure as the calculators I have used on the web all give a higher sum than the one I actually get?

Also, can I officially apply to the government, and have them check my tax and NI?

Answer: I am wondering why your code number is so low. Do you have benefits in employment, or have you a restriction for a previous underpayment?
Either look at www.listentotaxman, or call at a tax enquiry centre, taking your payslips with you.

Everything From Food To Corporations Is Heading For The Great Reset

Since the Status Quo is unsustainable, there will be a Great Reset. The timing and nature of that Reset is up to us. Yesterday I laid out why the Status Quo is financially unsustainable in The Promises That Cannot Be Kept . The unavoidable consequence of that is the the nation will experience a Great Reset in which the promises of the Savior State are relinquished, either voluntarily or …

How to Calculate Canadian Payroll Tax Deductions – Guide

Question: This is my politcal question for tonight. Why is our president suggesting an economic stimulus package for….

businesses that might include tax cuts? On Thursday he was touting how well the economy was doing and by today he’s admitting to the possibility of a recession. He want’s to put more money in the hands of people that will spend it where it will do the most good, so he says. I ask why doesn’t he give it to those of us on social security, whom he hasn’t given a fair shake in all the years he’s been in office. Last years inflation rate was 4.5%, We got a 2.3% increase. Give us our fair cost of living raise and we’ll spend the money where it’ll do us the most good, such as food, heating our homes this winter and paying our medical expenses. We’ll keep the money in circulation. What say you all?

Answer: I agree with you as to where the money SHOULD go to – but King George cannot see beyond the end of his stetson! He is a lame duck president now, and is just trying to fill out his time but ATTEMPTING to do something worthwhile. In actual fact, he is further ruining this country by allowing more money to be printed (we really do not have any) – and this in turn WILL result in the biggest recession we have seen since 1985! Remember that one? CJ

State opposes proposed Cherry Valley water rate hike

CHERRY VALLEY — The Illinois attorney general’s office has intervened in a rate case in which subsidiaries of Utilities Inc. are proposing water rate increases to three Illinois communities, including one in Cherry Valley.

Loan repayment formuLa fha Loan rates today