The Small Business Tax Help Blog

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Question: Can illness under funeral expense cover be written by a company with a non-life license?

If a company deals with non-life business, can it write a funeral expense policy?
Can child education policies and credit policies be underwriten by non-life companies?

Answer: No.

There are two basic types of licenses – property & casualty, and life/accident/health.

Illness goes under life/accident/health. Property casualty is fire & liability type coverages.

Child education policies aren’t really INSURANCE, they’re an INVESTMENT type, that needs yet a third license to sell.

And “credit” policies are misleading – there IS a property/casualty “credit” insurance, but it’s for very large businessess, when one of their creditors goes bankrupt and sticks them for the line of credit they had. MOST of the time, “credit” is a type of disability coverage, or life coverage, which would be life/accident/health.

Exclusive: Congressional Travel Spikes, Despite Vows of Austerity

With America’s economy in the gutter, lawmakers pledge to cut back—except, apparently, when it comes to fancy trips around the globe at the expense of taxpayers and special interests. Laura Colarusso reports on the troubling spike in congressional travel.

Recovery: Education Credits – Parents

Question: Incorporating in United States.?

Hi,
Ours is an outsourcing consulting firm. registered in UK and India.
I want to incorporate my company in US now, without visiting United States. have been searching internet from 5-6 months but i guess its kind of impossible for any non-resident alien or an overseas clients.

These are the services i am looking for
Company Formation (preferably LLC)
EIN
Business Checking A/c
Virtual Office with mail forwarding.

I dont want to spend much my budget for all these is not more than $500. (I spent $400 for UK company and it has all these services)

IS THERE ANY ONE WHO IS LISTENING AND CAN HELP?

Answer: Try the state of Deleware.

http://www.delaware.gov/egov/portal.nsf/portal/Business

Good luck.

Bank of America News Portal Now Available From Leading News Service

Major News Aggregator Puts Sites on Bank of America WASHINGTON, May 26, 2011 /PRNewswire/ — Finding news about Bank of America is now a lot easier. EIN News has been a world leader in industry news for the last 15 years. Now its network includes a specialized news portal covering Bank of America. The Internet news aggregation industry is becoming more specialized. David Rothstein , CEO of EIN …

Search for companies on LinkedIn

Question: What can you get away with deducting from income taxes in california?

I just got an email from Apple saying that if I buy a computer from them before dec 31 I can deduct it from my business income tax. How does this work? Does anyone have any information on this? I’m in CA.

Answer: If you are actually running a business and use the computer exclusively for business purposes it’s a legitimate business expense. However computer equipment is “listed equipment” and must be capitalized and depreciated over time. You don’t get to write off the entire cost in one year.

Brown releases revised budget plan with $6.6-billion windfall

Increased revenue from taxes on the wealthy would be used for schools and Business Tax credits. Brown says some tax hikes are still needed to wipe out the state’s red ink, but GOP lawmakers disagree. State revenue has rocketed to a projected $6.6 billion beyond expectations, a windfall that Gov. Jerry Brown wants to use to stabilize education spending and help repair California’s battered …

California Taxes and Regulates Businesses Into Going to Nevada

Question: are the employer tax of payroll taxes considered a deductable expense from gross income?

I am filing a 1120-s for my first year of business, I have gone to H&R Block to have them file for me, but the person I spoke with seamed more in the dark than I was. So instead of paying them to fill in the blanks of their computer program, I bought the software and plan on doing it myself. After reading the line about taxes, I am not sure if employer taxes are in the same category as income taxes or not. If I can write it off, it will make the difference between owing and a refund.

Answer: Payroll Taxes are a deduction, but only the employer portion of Social Security and Medicare and Unemployment taxes. Withholding from employees is a liability to the business until paid, not an expense or deduction.

The Tax Man Cometh

Today is the tax deadline, and while some of you have already filed, others are looking for some last-minute tips.

CorpSystem® Income Tax and Workflow Solutions

Die besten globalen Aktienfonds

Die Fondsmanager der besten globalen Aktienfonds haben exklusiv fünf Fragen zu ihrem Makro-Ausblick, den wichtigsten Elementen in ihrem Investmentprozess, den Gewichtungen sowie den Anlagethemen und Risiko-Kennzahlen beantwortet.

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