The Small Business Tax Help Blog

Posts Tagged ‘tax’

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Question: who in Canada is required to register for the goods and services tax ?

this question relates specifically to small business registrants whose income is earned through commission income or acting as a sales agent.

Answer: You have to register for GST/HST when you no longer qualify as a small supplier because your total worldwide taxable supplies of goods and services exceed the small supplier limit of $30,000 in a single calendar quarter or in four consecutive calendar quarters.

You have to register for GST/HST if you are a taxi or limousine operator whose fares are regulated by federal or provincial laws, even if your revenues do not exceed $30,000.

If you are a charity, see Mandatory registration for charities. If you are a public service body, see Mandatory registration for public service bodies. Also if you are a non-resident business, see Mandatory registration for non-resident business on the website below:

Brampton Tax Preparer Guilty of Tax Fraud Scheme

BRAMPTON, ONTARIO–(Marketwire – July 15, 2010) – On June 29, 2010, Leslie George Walker, of Brampton, pled guilty in Ontario Court of Justice in Brampton to one count of fraud over $5,000. A date for sentencing has yet to be set. Walker owned and operated a tax preparation business in his home under the name Walker’s Income Taxes. A Canada Revenue Agency (CRA) investigation, that included a …

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Question: Can anyone tell me the EIN of the State of FL Agency for Workforce Innovation?

Answer: They are not private! Its supposed to be a matter of public record since they are not an individual.
You can call IRS at 800-829-4933 and they will give it to you.

Taking stock / The Soviet tractors barrel on

The residents of northern Israel remember Soviet tanks all too well, thanks to the wars with the Syrians. Our memories of Soviet tractors are less immediate. Israel’s farmers naturally preferred to buy American, German, French or British heavy machinery.

NEW YORK STATE OF MIND

Question: Moving an S Corporation from Florida to New York. Should I register as a foreign corporation or dissolve it?

I am moving from Florida to New York and have an S corporation with 1 employee (myself). The company was incorporated in Florida a few years back. The company has yet to make any profit, but that will change as of Jan 1, 2010. Should I register to do business as a foreign corporation in NY or dissolve the corporation altogether? I believe there is a tax free reorganization option as well. Just trying to see what makes the most sense financially (and tax wise), as Florida has traditionally been business friendly.

Answer: First, find out what the consequences are of registering a Florida corporation as a foreign corporation in NY. Knowing New York, there is sure to be some tax implication.

Medicare corruption gusher worsens

Among South Florida’s fearless Medicare rip-offs — and there are thousands — is the story of Guillermo Denis Gonzalez.

Gov. Crist Explains Business Tax Break

Question: Is the US Federal Tax ID (EIN) to be used as a VAT No for import/export? Different?

Answer: The United States does not impose a VAT (value added tax). The following customs publication states
“The U.S. Customs Service does not require an importer to have a license or permit. Other agencies may require a permit, license, or other certification, depending on what is being imported. Customs entry forms do ask for your importer number. This is either your IRS business registration number, or if your business is not registered with the IRS or you do not have a business, your social security number.”

Die besten Nordamerika Aktienfonds

Die Fondsmanager der besten Nordamerika Aktienfonds haben exklusiv für e-fundresearch 5 Fragen zur konjunkturellen Entwicklung in den USA, den Gewichtungen in ihren Fonds, den Fundamentaldaten und den Performance- und Risikokennzahlen beantwortet.

FeinSearch.com – EIN Search, Tax id search, Federal Tax ID, EIN Lookup, Find EIN

Question: Tax Question: U.S resident, self employed working for foreign company?

I live in the U.S (natural citizen) and will work out of my home in the U.S. as an independent contractor working on a project for a company in Canada.

How do I pay taxes? Like normal to the U.S. or do I pay Canadian taxes too? Everything I’ve googled returns things about canadians living and working here.

Any help appreciated.

Answer: Well you are working in the US and the Canadian company should sent you a 1099 or W4 – don’t know how you are compensated at year end. You taxes are due to the US since you reside and work in the US.

Grainger Reports Second Quarter 2010 Earnings Per Share of $1.73, Including $0.08 Contribution from Unusual Item

Grainger today reported results for the second quarter and six months ended June 30, 2010. Â Second quarter sales of $1.8Â billion increased 16 percent versus the 2009 second quarter. Â Both quarters had the same number of selling days . Â Net earnings for the quarter increased 40Â percent to $129 million versus $92 million in 2009. Â Earnings per share increased 43Â percent to $1.73 versus $1 …

Tax Talk – Paul DioGuardi on…” Audit? Why Me?”