The Small Business Tax Help Blog

Posts Tagged ‘organization’

Parex Resources Announces Closing of Llanos Basin Acquisition

CALGARY, ALBERTA–(Marketwire – June 29, 2011) -

Question: Can I use receipts that are dated be for my incorporation of my business?

I have been saving receipts since this year for my business. however, I have not inc. it yet but will in the next few weeks. Can I use this receipts for tax purposes come next tax season?
I will incorporate an LLC!

Answer: You can use those receipts for your PERSONAL income tax return, but not for the corporation’s return. See your incorporation attorney for further advice.

Former cop avoids jail by repaying tax receipts he pocketed

Johnnie A. Fritz Jr., a former Buffalo police officer and car dealer, today was spared a jail term and granted a conditional discharge after prosecutors confirmed he had come up with the nearly $13,000 in sales tax receipts he owed the state.

FASCISM: Tax System Of, By, & For Mega Corporations Against Small Business And People

Question: How do i file taxes for a Non Profit (but not 501c) business?

I run an animal rescue. I am licensed through the state, and have a business account with a Tax ID.
Through the State Secretary Office, i filed for NonProfit status, which i have. However, since it is a small animal rescue with little funds coming in, there was no point in filing tax exempt. So, i am NonProfit status, but NOT tax exempt.

I have no idea how to file taxes when it comes time to. Do i just file regular Business Taxes? Or is there a certain way i should file since i am Non-Profit status? (no money left over at the end of the year)

Answer: It varies depending on the state and circumstances. Consult a qualified expert. Even if you prefer to do your own taxes, hire help this one time to teach you how to do things the right way, so you can safely do it yourself afterward.

North Jersey property taxes rising, again

The typical North Jersey homeowner will pay about $375 more in property taxes over the next year ” and will get less for the money in many cases, as communities scale back services.

File Your Quarterly Taxes and Keep Your Business in Good Standing! @joevenuto

Question: Small Business Tax Preparation?

I started a small business this year. I don’t expect I will make a big profit, if any at all, so I don’t know if I can afford an accountant. I have been keeping my major receipts but have not been keeping my smaller charges (<$25). Is that OK as long as I keep my register up to date? If I got audited would a register be acceptable or would I need to have every single receipt?

Answer: You are okay.

As long as you have a good set of books (register), you would be fine. In case of an audit, the IRS (or the department of revenue in your state) is not going after $5 dollars of supplies, for example.

Do keep receipts/invoices for major expenditures; those would be targeted first.

Sponsored By:

LEGAL NOTICE The St. Johns River Water Management District (District) gives notice of receipt of the following permit application(s): Individual ERP Permit Applications Three Rivers Timber, LLC, 4315 Pablo Oaks Court, Suite 1, Jacksonville, FL 32224, application # 4-089-105897-2.

Tarpon bring their employees tax efficient payroll solution

Bringing in a professional Orange County office organizer can do wonders for your business, home, or home office but these days businesses and individuals don’t always have the resources to hire such a person. As organization is one of the key elements to success, it’s important to stay as organized as possible so that your day and your business run efficiently as possible. If you’ve become disorganized and are unable to bring in a professional to help you tidy up, don’t fret, there are several things you can do to regain control of things and stay organized thereafter.

Organize Your Business Records – Keeping your business records in good order should be priority number one when you’re looking to organize a business. Try and create a filling system that keeps track of sales, clients, and even prospective clients. When these records are kept in good order they are easily accessible to company representatives which in turn means they’ll be capable of better serving clients as well as those who’ve yet to come on board with your company.

Choose One Filing System – When you need to access records and other important business documents you want immediate access as to be as efficient as possible. Utilizing multiple filing systems creates chaos and often requires the individual looking for documentation to spend an exorbitant amount of time scouring through different systems to find what they need. This can be detrimental to client relations and result in loss of cliental.

Handle Everything One Time – In business efficiency is of the utmost importance. Moving records, documents, and paper into multiple stacks is a waste of time, causes confusion, and can result in misplaced or forgotten documentation. Create different areas for every type of documentation you might have and place the appropriate documentation in the appropriate area so that you know what’s important, what needs immediate attention, what doesn’t, and what things can wait. Doing so will allow you to operate a well-organized business, something your clients will greatly appreciate.

Measure before You Shop – It’s easy to get carried away when shopping for your business but it’s best to take things slow and determine not only what the needs of your business are but what your office or work space is capable of accommodating as well. Measure shelf and cabinet space, as well as drawer space in order to determine what items and/or technology can be place or applied to your workspace. Rushing out and hastily purchasing items without measuring your office can result in time consuming returns, and time spent away from your business it time and money lost.

Separate Business from Personal – This is a great tip for those who operate a business out of their home. Every effort should be made to create separate spaces for work projects and personal projects. This will enable you to stay focused on the tasks at hand and get your work done. It’s also a great idea to keep separate filing systems in place so that come tax season there is no confusion between personal and business records.

The more organized you and your business are the better your chances are of success. Many businesses that become stay disorganized stay that way and eventually close their doors. It’s virtually impossible to operate a business that’s in total or even partial disorder. You may not have the financial resources to hire an Orange County professional office organizer but if you follow the aforementioned tips you’ll have an edge over those that don’t and you’ll find things run much smoother on a day to day basis.

Recall leader takes out petitions

Recall organizer Humberto Lopez officially took out petitions Wednesday against Mayor Bob Walkup and Councilwomen Regina Romero and Karin Uhlich, characterizing Tucson as a community “in crisis.”

I Won Sandy Botkin’s Tax Strategies Course!