The Small Business Tax Help Blog

Posts Tagged ‘small’

Question: Why are 31 House Democrats telling Nancy to shove it, when she says to let Bush Tax Cuts expire?

Is the left imploding?

http://articles.cnn.com/2010-09-16/politics/democrats.obama.taxes_1_tax-cuts-small-businesses-and-families-cuts-for-middle-class?_s=PM:POLITICS

Answer: They have figured out that goose stepping with Nancy and Barry is going to cost them their jobs and now realize that “We the people” is more than a phrase on an old piece of paper.

Huntsman visits Bay area, believes record will win GOP voters

Jon Huntsman, former Utah governor and ambassador to China, makes his first visit to the Tampa area.

Truth Watch Small Business! Interview CEO vs Obama Part_1

Question: What kind of tax write offs can i do if i started a home based business ?

Im looking to start a small home based business. I am a single mother with two small girls. I lost my job as a semi truck driver in the oilfield in may, and would like to start something i can do at home, so i can stay with my children.

I’ve heard that you can claim a certain portion of your house, and are there other things you can claim on your taxes when having your own business ?? like advertising ?? or materials i need to buy to operate my business ??

Money is so tight, so any way that i can save a buck or two would really help ! ANY info is really appreciated !! Thank you !!

Answer: You can write off gas for your car( a percentage), a percentage of food costs(lunches at work for you/workers), i think about 20-40% of your rent or mortgage if you set up a home office. Basically there are too many to list. It’s great though…save EVERY receipt for EVERYTHING you buy, and submit each and every receipt. The tax people will go through them and use what they can…even if they only use a quarter of the receipts you set yourself up for a good return.

Three Online Tax Resources for Small-Business Owners

Looking for ways to make Tax Day a little less painful? These websites might have what you need.

Small Business Tax Deductions

Question: Is a third runway for Heathrow a necessary evil?

http://www.guardian.co.uk/uk/video/2009/jan/15/heathrow-airport
Should Heathrow have a new runway when we are concerned about climate change, or should we let the business (and taxes) it would generate go to another European country?

Answer: The people in this interview are woefully misinformed.
I’m not really sure what the point of this clip was, except maybe to drive home that most people are happy to form opinions about things without really researching them.

Read here:

http://news.bbc.co.uk/1/hi/uk_politics/7831462.stm

“The government’s own green advisers, the Sustainable Development Commission, recently called for an independent commission to examine uncertainties on aviation and climate before any major expansion.

SDC commissioner Hugh Raven said on Thursday: “Pressing ahead with the expansion of Heathrow now is highly irresponsible.” ”

More condemnation:

http://www.londoncouncils.gov.uk/media/current/pressdetail.htm?pk=647

And alternatives to Heathrow:

http://www.businessgreen.com/business-green/news/2226736/boris-island-airport-provide

http://www.politics.co.uk/opinion-formers/press-releases/unemployment/transport/pcs-anger-over-third-runway-decision-$1261089$364840.htm

Manifiestos could see changes by Legislature

McALLEN — Signs announcing “Se Hacen Manifiestos” adorn the storefronts of downtown merchants who sell fashionable clothing, perfume and jewelry.

John Key Speech – Economic reforms for NZ business

Question: Starting my own Graphic Design Freelancing business what changes when I do my taxes? Ontario Canada?

I’m starting up my own small business from home as a Graphic Designer freelancing. I’m trying to figure out what to keep as tax right offs. I know I can have office supplies and such as a right off but is there a list someone can give me of things? Plus, do I have to register my business in order for Revenue Canada to recognize it? Thanks!

Answer: Look here for taxes on self-employment:

http://www.cra-arc.gc.ca/tx/bsnss/tpcs/slprtnr/menu-eng.html

Look here for deductible items:

http://www.cra-arc.gc.ca/tx/bsnss/tpcs/slprtnr/bsnssxpnss/menu-eng.html

Look here for GST registration:

http://www.cra-arc.gc.ca/tx/bsnss/tpcs/gst-tps/menu-eng.html

Small Business Remains Cautious in Spite of Improving Compensation Metrics According to Administaff Survey

Small business owners’ expectations of an economic rebound have been pushed out until the second half of 2011, in spite of improving indicators within their own businesses, according to the most recent Business Confidence Survey released today by Administaff (NYSE:ASF), a leading provider of human resources services for small and medium-sized businesses.

Tax Law Expert Robert Wood Small Business Tax Law

Question: Is Obama Lying when he says he’ll remove the Capital Gains tax off Small Business?

I was unaware that small business paid capital gains taxes.

http://www.topix.com/news/2008-presidential-election/2008/09/obama-tax-cuts-for-the-middle-class

Answer: Obama’s plan to raise taxes on the very people, small businessmen and women, who are providing about 80% of the new jobs our economy is producing. Obama’s response last night was to say that “I will eliminate capital gains taxes for the small businesses and start-ups that will create the high-wage, high-tech jobs of tomorrow.”

Obama said he was going to eliminate capital gains taxes. These small businessmen generally don’t pay capital gains taxes. They pay income taxes. Obama’s plan is to raise the income taxes on these entrepreneurs. Telling the American people that he will cut their capital gains taxes is simply a charade; a charade the uneducated will buy.
You can here him say it here:

You can read it from his site here:

http://www.barackobama.com/taxes/

“Eliminate capital gains taxes for small businesses, cut corporate taxes for firms that invest and create jobs in the United States, and provide tax credits to reduce the cost of healthcare and to reward investments in innovation.”

A capital gains tax (abbreviated: CGT) is a tax charged on capital gains, the profit realized on the sale of a non-inventory asset that was purchased at a lower price. The most common capital gains are realized from the sale of stocks, bonds, precious metals and property.

In the United States, individuals and corporations pay income tax on the net total of all their capital gains just as they do on other sorts of income, but the tax rate for individuals is lower on “long-term capital gains,”

So, you see, lowering CGT for a small biz like mine… won’t do me one damn bit of good. I don’t pay CGT and I’ve been in business since 1/1/03!

Bank of England Rate-Setter Fears New UK Recession

Bank of England rate-setter fears UK could fall back into recession Bank of England – Recession – Business – Financial Services – Banking Services

Barack Obama on Small Business Loans: Toledo, Ohio