The Small Business Tax Help Blog

Posts Tagged ‘reference’

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Mr. O’Keefe, you’re not a journalist

Humorist Sam Levenson wrote a lot about growing up in a New York tenement, where money was scarce, but stories were not.

Schandmaul – Walpurgisnacht

Question: If we are on the ‘Road to Socialism’ why do we have the 2nd highest Corporate Tax Rate?

People are saying Socialism works, countries like Sweden and The Netherlands are put forward as examples to prove that Socialism does indeed work.

If it does work why is their Corporate Tax rates in the lower 20% and we have 35%

Do they know something we don’t know already know and that is to increase productivity and spending is by lowering taxes not collecting them?

The corporate income tax rate for 2008 for taxable income less than €250,000 ($339,000) will be temporarily reduced to 20% with retroactive effect to January 1 2008.

http://www.internationaltaxreview.com/default.asp?Page=10&PUBID=35&ISS=25141&SID=713434

Sweden on Sept. 8 announced plans to cut the corporate tax rate from 28% to 26.3% in 2009 in a bid to improve the business climate.

Tax Cuts works, so why aren’t we doing it also?

Answer: Germany is cutting taxes to end their own recession.

The imperial federal government is doing this intentionally. And we, the under educated masses, just do not get it. This is the reason US schools rank with the third world in standardized testing. An educated populace is a threat to its government.

As long as they keep our economy in the toilet, they can continue to push their authoritarian agenda on us.

PIMCO Municipal Income Fund II Reports Results for the Fiscal Quarter and Six Months Ended November 30, 2009

NEW YORK----PIMCO Municipal Income Fund II , a closed-end management investment company which seeks to provide current income exempt from federal income tax, today announced its results for the fiscal quarter and six months ended November 30, 2009.

U.S. Has 2nd-Highest Corporate Tax Rate of Industrialized Nations

Advaxis Receives $278,978 in Non-Dilutive Tax Credit Sale

NORTH BRUNSWICK, N.J.—-Advaxis, Inc., , the live, attenuated Listeria monocytogenes vaccine company, has received $278,978 from the sale of its Fiscal Year 2008 net operating tax losses and research tax credits through the NJ Economic Development Authority pursuant to the rules, regulations and stipulations set forth by the NJ program.

New Laws For California Realtors and Real Estate Investors

Question: 1099 Tax question, vs business?

I own a business and is making decent money, but I find myself with a lot of free time. There’s is this good internet company looking for employees ( sellers ) as a 1099 on a commission bases, my question is this. If I decide to work from them on a part time bases, and make less then a few hundred dollars a month , Do I still have to file taxes on that income? Will my 1099 effect my Business Taxes?

Answer: You are required to report all monies that you make on your tax return whether or not you receive a 1099. If you make more than $400 the company should issue you a 1099 and it is reported to the IRS.

How to pick a tax preparer: Steps to take to protect yourself

If you ask your barber for a trim and end up with a buzz cut, your hair will grow back in a few months. But if an inept tax preparer makes a hash out of your tax return, the repercussions could haunt you for years.

Small Business Owner Questions 8% payroll tax

Question: When starting an LLC, should I list any cash as a capital contribution.?

I’m forming an LLC in New York to start a small business. I know adding cash as a capital contribution adds to the equity of the business (making it worth more on paper) but I want to know if there’s any other advantage (or disadvantage) to doing (or not doing it).

Also, the business will be something I’m doing on the side completely unrelated to my regular 9-to-5 job. Will there be a problem reporting business income/expenses since I’ll still have a “regular” job/salary?

Answer: Your cash contributions will be a capital contribution. There is no problem with having LLC income and salary income, but there are some rules applicable to the LLC.

If it is a single-member LLC, it is a 'disregarded entity', so you report it on Schedule C as part of Form 1040.

If you are not the sole owner of the LLC, then it is reported on Form 1065 and a Form K-1 goes to each owner who will then report it on page 2 of Schedule E.

Politician, sergeant battle for GOP's Winnebago County nod

ROCKFORD — Aaron Booker has 30 years in law enforcement under his belt. Randy Sturm’s forte is in finance and politics. Both men believe their respective backgrounds make them suitable to be the next Winnebago County sheriff.

How To Generate Free Leads