The Small Business Tax Help Blog

Posts Tagged ‘work’

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Question: What expenses can I deduct?

What small business expenses I occureed last year can I deduct?
For example, meals with clients, marketting, office supplies, etc. what other categories would you suggest? I need to deduct a lot

Answer: Any travel expenses, advertising, wages (if any) paid out, any license fees, insurance (if business related), postage, office supplies, refunds paid to client, Contributions,legal and accounting fees. You can depreciate any equipment that you bought this year. You can also take a deduction for any health insurance that you paid out for yourself. Did you have a home office used exclusively for business? If so, you can take a percentage of utility bills, mortgage/rent payments, etc.

Business entertainment deductions: fun but complex

Taking a client out for lunch is one of the most basic business activities there is. And it's one that can run a small business owner afoul of the IRS.

Chinese Glasses: Chinese Ideas Of Contracts

In the current financial situation of America the companies are looking forward to the bailout packages sanctioned by the American government. People have currently lost jobs and living off their savings. The next set of people who have jobs have faced job cuts and are unable to make their ends meet.

Due to a major cash crunch people resorted to credit card spending to run their day to day expenses. This lead to a major piling of debts as people kept on spending with minimum payments towards their cards. The American government finally intervened to put an end to the debt stressed life of people. The intervention was in the form of

1. Stimulus money
2. Tax cuts
3. Personal Grants for financially affected people.

The stimulus money brought back the liquidity in the market. Institutions wrote off debts and settled loans at very low rate of interest. Tax cut again increased the money flow which gave extra capital in the hands of businessmen to invest into the market and create more employment opportunities. Personal grants were given to people who were highly affected financially. They could use the money for any use they had even to pay back their loans.
If we summarize the affect of the fiscal package of the economy it was to increase the liquidity and employment opportunities for people. In both cases the chances of people paying back the debt to the creditors became high.

Due to the receipt of the bailout money the institutions became aggressive towards settlement towards lower rates. This is the right time for any debtors to completely come out of the debt situation by settling the debts.

If you want to get out of debt and hire a debt settlement company for debt negotiation then I have an important piece of advice. Do not go directly to a particular debt settlement company but rather first go to a debt relief network who is affiliated with several legitimate debt companies. In order to be in the debt relief network, the debt settlement companies must prove a track record of successfully negotiating and eliminating debt. They must also pass an ethical standards test. Going through a debt relief network will ensure that the debt company you are provided with is a legitimate and respected company. This is the most efficient way in finding the best debt settlement companies and increasing your chances of eliminating your debt.

FreeDebtSettlementAdvice.com is one of the largest and most respected debt relief networks on the marketplace today. To find a debt settlement company through FreeDebtSettlementAdvice.com

AP: Road Projects Haven’t Helped Employment

President Obama’s $787 billion stimulus plan was intended to help the economy through tax cuts and job creation. One particular area of job creation was construction jobs to repair roads and bridges. But a new report from The Associated Press shows that spending in those areas has had no effect on local unemployment. AP investigative reporter Matt Apuzzo talks to Melissa Block about the report.

Payroll Tax Cut the Answer to Job Growth?

ID theft protection among new laws for 2010

January 11, 2010 A law expected to make it more difficult for identity thieves to strike and one that will allow independent cab drivers to gain workers’ compensation benefits are among the new state laws going into effect this year.

Question: Do I have to pay unincorporated Business Tax?

I live in NYC, my friend who also is a freelancer and works from home , he said he never paid this tax before.
However, my acct’t filed this tax and it’s like 4% of my income which is a lot considering I’m already paying over 30% in federal and state. Please HELP!

Answer: You would need to file a NYC UBT tax return if your business meets either of the following criteria:

It has a total gross income of more than $75,000, prior to any deduction for the cost of goods sold or services performed; or
It has an unincorporated business taxable income of more than $35,000

Mayor Bloomberg Calls For More NYC Startups At TechCrunch Disrupt (update: transcript)

Today, TechCrunch Disrupt attendees were treated to a very special guest: New York City Mayor Michael Bloomberg. Bloomberg addressed the audience of entrepreneurs, urging them to make their way to New York City to start their next venture. As he put it, " When you want to start a business, you don't have any choice. This is where the best and the brightest are ." Mayor Bloomberg also announced ...

Comptroller Thompson on UBT reform