The Small Business Tax Help Blog

Posts Tagged ‘smallbusiness’

Question: How to change from accounting and become an investment advisor?

HI,

I have been in accounting for 2 and a half years now, and I do public accounting, so I see a lot of clients like dentists, doctors, CEO’s & lots of small business owners when it comes to personal tax season. Due to the recession, I got laid off from the firm and joined another firm, which the working condition is quite horrible. Meanwhile, I want to become an investment advisor with companies that they call themselves XXX capital partners. I have no idea how to write a cover letter and resume for an Investment Advisor position, because all of my resumes are very accounting oriented. I believe the position could be sale oriented. I am to the point that I choose unemployment than stay at my current accounting firm.

PS. I will be getting an accounting designation and become a professional accountant in December 2009.

I appreciate all guidance in advance.

Answer: For CANADA Only:
Canada Overhauls Its Dealer and Adviser Registration/Exemption Rules

http://www.uslaw.com/library/Corporate_&_Securities_Law/Canada_Overhauls_Dealer_Adviser_RegistrationExemption_Rules.php?item=80707

Register in Canada

http://www.securities-administrators.ca/

For USA Only:

http://answers.yahoo.com/question/index?qid=20090517195043AA7IAtY&r=w#BaN_M2D0AnhGUqjJm65y

You prob want to become an RIA – Registered Investment Advisor – RIA (USA)

http://www.investopedia.com/terms/r/ria.asp

How To Register as an Investment Adviser (SEC) (USA)

http://www.sec.gov/divisions/investment/iaregulation/regia.htm

“Business Tax CPA” Need IRS Assistance With Business Tax?

Question: If I get a Tax ID number, will creditors be able to track me down for owed money?

I have looked at the Tax ID number (Federal Tax ID) form online, and it asks for the Social Security Number. Will vendors that I owe money, still be able to find me, if I put the Tax ID number on for example my new bank account?

Thanks!

Answer: what reason are you requesting a tax id #, are you in business for yourself, and paying employees, or have you formed a corp, a partnership or LLC?
if not you have no reason for one, your SS# is sufficient
if you owe money they will find you one way or another, with or without a number, any number

Healdsburg Literary Guild part 2

Question: Help starting a Massage Therapy business?

I’ve had my license in massage therapy for over three years and Im thinking of starting my own business. Very small at first, I will be renting a room from an already established hair and nail salon in a small town. I will be paying all my own taxes, and was wondering if anyone else that has done this can give advise? Likes specific forms I have to file for taxes and such. I have done my research, but Im so worried I will miss something and get in trouble with the IRS or the state of Ohio. I get confused on things like, how to pay estimated taxes, when I haven’t even made any money yet? Do I have to have the board of health check out just my room I will be renting, things like that. Any advise would be appreciated. Also I don’t have the money to hire an accountant to set things up for me, so that’s not an option. =)

Answer: Don’t sweat it. Just start educating yourself beforehand. I do my own taxes online. Just need your ss number for self employment. Save every receipt for everything. Everything you use for business just about is tax deductible. Contact your city to see if they have any business regulations. I wouldn’t think they would have to inspect it.
Feel free to contact me with any questions.

http://www.benefits-of-massage-therapy.com

President heads west to sell his deficit plan

On West Coast tour, president to visit Facebook for live online chat this week

Sen. Brown Fights for Workers and Small Business Tax Relief

Question: IT/Contractor small Business Tax calculations?

I want to register with the IRS as an independent IT contractor of sorts? I would essentially have to get an EIN as my few little clients require it for auditing purposes. My question is, if I intend to make less than 10k with this small business venture, what can I expect in relation to how much I’ll be taxed?

Also any suggestions to help me out as a start this venture would be awesome. Thanks in advance!

Answer: If that’s your only income, and you are not a dependent, your income tax will be very low, around $105 on $10,000. If you have other income, your income tax will depend on your total income for the year, filing status, and deductions.

If you are a dependent, then your income tax would be more like $455.

In either case, you’d owe self employment tax, for social security and medicare, of around $1413.

This assumes a net income of $10,000 after any associated allowable expenses have been deducted.

L.A. Tax Attorney Dennis Brager Announces Big “Win” in a Case Against the IRS

LOS ANGELES, CA–(Marketwire – 01/18/11) – Los Angeles Tax Attorney Dennis Brager announced today a victory in a three year case against the IRS represented by his firm, Brager Tax Law Group , A P.C . In an unusual turn of events, the United States Tax Court ordered the IRS to pay over $20,000 in tax lawyers fees to his client, a medical transcription company, after a six-year battle over …

IRS Resources for Small Business Owners

Question: where can I get a payroll tax deduction guide for Ill?

I’m starting a small business & need a payroll tax guide to pay salaries. I remember having a book when I did payroll at another job. I need to know where I can purchase one for the state of Illinois.

Answer: www.iltax.com

Wonkbook: Assessing FinReg; Goldman suit settled; oil gusher stopped

Good day for the Obama administration yesterday: FinReg found final approval in the Senate (hope you’re ready to start talking Basel III, now), Goldman Sachs settled the SEC’s civil suit against it for a lot of money and a statement of “regret,” and BP has successfully stopped the oil well from leaking three months after it started.

Economic Survival Guide- Small Business Stimulus Capital Presentation