The Small Business Tax Help Blog

Posts Tagged ‘tax’

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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: How will Cap and trade affect you financially and where does the money go?

What’s Your Household’s Cap-and-Trade Tax Burden?

Tax Foundation Calculator Helps Individuals Estimate Annual Household Costs of a Proposed U.S. Cap-and-Trade System

Washington, DC, June 4, 2009 – Americans can now estimate how much a U.S. cap-and-trade system would cost their individual households annually with the Tax Foundation’s new Household Cap-and-Trade Burden Calculator. The calculator can be found at http://www.taxfoundation.org/capandtrade.
copy and paste the link into your search engine and follow the link. Cap and trade calculator.
Hey Mike O…..

My question is clear. When you religion infringes on my rights and takes money out of my pocket (when the science of global warming is suspect) my concern is how it effects me. If you want to discuss the factors other than the financial impact then post your own question. I do have to do anything you request.

Answer: Mine is $1,803.00 a year

This link might be better

http://www.taxfoundation.org/capandtrade

Portsmouth’s tax rate spikes 32 cents

PORTSMOUTH — The city on Wednesday set its tax rate at $17.41 per $1,000 of property valuation, thereby ensuring a taxpayer with a $300,000 home would pay $5,223 in property taxes.

Solar Panel Installation Time-Lapse – City of Allen MCPAR Building

Why even the bosses are at war

Huge disparities in the private sector allow FTSE-100 chief executives astronomic pay rises while leaving most small-business directors to endure pay freezes — or even cuts.

UK Spending Cuts

Question: NC Tax Withholding weekly.Help need to fill out form today?

What per cent of your gross income do you with hold from your weekly pay check.on Federal, it already has 10 per cent with held.I am filling out a form.I am married and husband is on SS.Don’t want to have to pay in at the end of the year.Went to IRS.Gov and it was to confussing for my feeble brain.
Thanks Terri, but im sending in a paper for unemployment insurance.Have to send in papers and let them know how much % of NC Tax for weekly gross I want withheld each week.They already have 10 per cent or Federal already check.

Answer: If weekly income is less than $961.54, use $48.08 for each allowance claimed. If $961.54 or more, use $38.46.

If the wage in excess of The income tax to be
allowance amount is: withheld shall be:
Of such From Over- But not over- wage Product
-0-$ 57.69 …………. -0-
$ 57.69 $ 262.02 …………. 6% less $ 3.46
$ 262.02 $1,019.23 ………….7% less $ 6.08
$1,019.23 $1,980.77 ………….7.75% less $13.73
$ 1,980.77 or more………………………….8% less $18.68

For example if you receive $1,000 weekly salary you reduce that amount by $48.08 to $951.92. Next take 7% of that ($951.92 X 7% = $66.63) reduced by $6.08 or a total withholding of $60.55

FACTA Further Erodes Taxpayer Protections Afforded by the Statute of Limitations

The Foreign Account Tax Compliance Act (FACTA) makes three significant changes; the last of which is

Recovery: Making Work Pay – General – June 09

Question: When you calculate how much to withhold for 2007 do you count Social Security as federal tax?

Answer: Social Security and Medicare are taxes at a fixed rate that you have no control over. They are not part of federal income tax.

Social Security and Medicare are not deductible and would not enter into any decision on how much tax to withhold. That is based on marital status, exemptions, deductions, and your tax bracket.

Extendicare REIT Announces 2010 Third Quarter Results

Quarterly Results Include Reserve Adjustment

How to Avoid an IRS Tax Audit : How to Avoid IRS Audit Flags