The Small Business Tax Help Blog

Posts Tagged ‘money’

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Question: Excel Formatting Question…any experts?

I have been scouring the internet now for hours trying to figure something out. Okay, I am starting a home based business and I’m creating a spreadsheet to keep track of all of my expenses. I will be using Paypal as a means of collecting payment.

Paypal charges a flat $.30 per transaction and 2.9% of the total. I have a formula that works perfect to determine my Paypal fees. =(0.3+0.029*(E9+F9))

The only downside to my sheet is that $.30 shows up a million times down in each cell until I enter a total and it looks really tacky! I want the cell to be blank until I enter a total.

Any help? I’m not an excel professional so detailed responses would be greatly appreciated.

Answer: =IF(E9+F9 = 0, "", 0.3+0.029*(E9+F9))

If E9 + F9 = 0 then return "" (nothing) else return 0.3+0.029*(E9+F9)

Expensify Brings Transparency to Employee Spending Trends With Expense Reports Analytics

At today's FinovateSpring conference, Expensify announced the addition of a complete, free analytics package to better track, analyze and understand employee spending trends. Expensify analytics gives managers and bookkeepers a clearer picture of company expenditures.

Veterinary Business Briefing - budget planning tool

Question: Starting a business from home?

Some people say that your council tax rates will be affected is this true?

I live in Manchester, UK

Also if anyone has any advice on starting up a business(I have already been trading since Feb 08 on ebay – car parts etc) as im not sure if its worth it because of the HM RC and other associated tax etc.

Please help! Thanks!

Answer: Business helper the http://www.businesslink.gov.uk/ gives advice on how to get things going for any UK business.

You said you've trading on eBay and its not doing you any good? Well why not set up your own website, or offline business trading car parts. whilst getting help from businesslink.gov.uk.

Diageo's Tax Threat

High taxes could drive UK PLC not to drink but rather the nearest airport.

IoD: Capital Gains Tax and Supplementary Business Rate

Question: If my independent contractors fail to 1099 Misc me for rent they have paid me wil I get in trouble ?

They pay me chair rent and should issue me 1099 misc come tax time, but they never do. Am I in trouble or are they…or both. I can’t force them to 1099 me…? I am an LLC/Partnership.
I issue the independent contractors receipts…

Answer: From your side the 1099's don't matter, and it would be unusual if they did give you a 1099. With or without them, you must report the income from the chair rent on YOUR schedule C - they'll report the expense on theirs.

Pleasanton Oks New General Plan, Livermore Begins Planning for BART

The second half of 2009 continued to see the state budget impact local programs and services. After seven years, Pleasanton approved its new general plan. Pleasanton continued to deal with lawsuits. A Court of Appeal validated the Oak Grove referendum effort.

October 19 - 10 People WIN Today's Shirt from MBO Partners

Raising and managing money: Tips for your small business

Week 5: Deal with Money. Money is at the heart of every business, and understanding money (how to raise it, account for it, and manage it) is critical to business success.

Tax Doctor October 17, 2009

Question: I started a business in 2006, I had business expenses, but haven’t sold anything . Can I defer my deductions?

I started a business in 2006, I had business expenses, but haven’t sold anything . Can I defer my deductions until the 2007 tax year when I will have business income? My business is a used car dealership. I have spent about $3,000 on supplies, training and other expenses. I have spent $4,000 on inventory (2 cars I purchased in Dec 2006). I haven’t sold anything to count as business income in 2006. Can I take these deductions this year, or do I defer them for the 2007 tax year (If that is allowed)? [I'm refering to Federal Income Tax.]

Another question: I have a Fed EIN number for my business, I haven’t yet filled for LLC, but will do this in the next week. Do I file 2 separate tax forms for my personal income and my business income?

Answer: Your business had a loss - it can offset other income you might have. You need an accountant

Little Known Tax Deductions Could Get You Extra Money

You may not see filing your taxes so much as a chore this year, but more of a reward. That's because there are new deductions that can put extra money in your pocket.

Tax Deduction Tips & Advice : How to Take Federal Income Tax Deductions