The Small Business Tax Help Blog

Posts Tagged ‘tools’

Question: Can i give my subcontractor a company credit card for any of my business expenses?

Can i give my subcontractor a credit card to pay for my business expenses? Or would doing this clasifiy him as an employee?

Answer: He could still be a subcontractor. The IRS has rules to disallow some people if you treat them like an employee.
As long as you don’t do things like schedule his time or having him work exclusively for you, allowing him a company credit card shouldn’t matter.

Measuring Business Income 2-Adjusting JE Assets & Expenses

Question: 2009 tax amendment: wrong form?

I have a S-corporation. In my individual tax return, I reported income form business on line 12 and included schedule C. Now, I figured out, I should report it on line 17 and include schedule E. I recently received an e-mail from IRS for self-Employment Tax Liability. But, since I am employed in the S-corp and pay myself salary I don’t report any self-employment tax. So, Now how I can amend 2009 tax return or how to correct the mistakes. Thanks.

Answer: Did you file a return for the S-corp, or just put everything on your personal return? If you didn’t file for the s-corp, you need more help than the short answers on this forum can provide, see a CPA or enrolled agent. If you filed properly for the s-corp, you’d have gotten a K-1 from the s-corp showing you what to put where on your personal return, and could use that info to do a corrected personal return.

Ignore Tro’s wrong answer, as usual.

Ben. Re Quiggin, is there a

In reply to The Carbon Tax We Had To Have : Ben. Re Quiggin, is there a misunderstanding here? My point is that the much derided economist class have been considered only progressive insofar as they became non-economists and wore a political mantle, but this is and always has been unfair. Maybe the bad press will disappear as the Greens and others embrace what Garnaut, Stern, Stiglitz and others …

Self Employment — from the Kiplinger Family Records Organizer

Question: Looking for a sample (filled in) taxi-cab service expense sheet to use as a guide..?

I’m working on a homework assignment and am looking for an expense report/spreadsheet that is already filled in to use as a guide. My assignment is for a taxicab service and am trying to find a website that may help me since I have no clue on what I would need to start up my sample new business..any help would be appreciated.
It would help a lot if I could find a page that has information on an actual businesses costs and such. I’m completely stuck…I have no clue what kind of numbers to even start entering

Answer: http://www.diyaccounting.co.uk/taxi/purchases.htm best place to go

Immunodiagnostic Sys – Final Results

Immunodiagnostic Sys – Final Results

ABUKAI Expenses – The quickest & easiest way to create expense reports

Question: help with filling out the fafsa?!?

i’m 16 and a senior in high school. i filled out the info about my parents taxes using 2009 forms but 2010 was my first year with a job, so when it asks me about my income tax for 2010 i have no idea because i haven’t filled out the tax form yet and because this is my first year i don’t even have 2009 forms as an estimate.
what do i do?! how can i calculate my income tax?
btw, my gross income for 2010 was about $2000

Answer: schools.medianewsonline.com – it has detailed info how to apply for financial aid and scholarships to get more cash.

Some property owners get another chance to appeal

Thousands of Mecklenburg property owners have until Thursday to file a second challenge to new tax values they received this spring.

TYT Hour – May 11th, 2010

Question: Would this be red flat to the IRS ? Question about business & personal.?

There was a time where i had to close my business checking account that my book keeper used to manage but it took about 10 months before I was able to open a new one. Within that 10 months I used my personal account to pay for all of the business expenses (and personal as well).

What’s the best thing to do in this case ?

Answer: You will need to be extra diligent in tracking your business expenses and income, and make sure you have some good records. If so, then the account is not a huge deal. It is recommended to keep things separate, but unless you are an attorney with a trust account or something similar you should be fine with good records.

Good luck.

Running out of print

Business Line By word: The pavement bookstores at Darya Ganj with the historic Delhi Gate in the backdrop. – Photo: V. V. Krishnan

Using QuickBooks for your Personal Finances