Tax FAQ
 

Obama Supporters - Do You Really Believe An Increase In Business Tax Today Will Help?

Question by amalone | Posted in Elections

How?

In a booming time, I may go alone with higher business tax.

Where will Obama get the $$$ to give to the people making under 250K if he does not tax businesses?
Why do businesses outsource jobs?
So we tax them to fall upon them stay home?
Richard, I agree with you there. So in that case, I will love to hear Obama saying something about fixing those loopholes as a substitute for of taxes!

Answer: Businesses don't pay taxes. A business is not a feeling, it's an abstraction. People pay the taxes. Either employees get paid less, or customers get charged more, or investors don't hightail it as much money.

Whether we know it or not, most of us are investors in companies. Retirement accounts and pensions contribute in companies. Our cash in the bank is loaned to companies. Even our insurance policies are investments in businesses. Capitulate those profits and it does hit us
 
 

Do I Have To Pay Unincorporated Business Tax?

Question by carZero | Posted in United States

I subsist 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 return which is a lot considering I'm already paying over 30% in federal and state. Please HELP!

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

It has a total gross gains 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 receipts of more than $35,000

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Turbo Tax Help Or Any Other Software For Business?

Question by | Posted in Software

I'm using all my points today, I have a million questions it seems like today.

For those that have second-hand Turbo Tax, will this allow me to File my business taxes or just regular 9-5 taxes? Do you comprehend of any software similar that might work for business? I a just trying to avoid very large account fees. It's a very naked business so I just need something to allow me to plug in numbers.

If you have any suggestions, I would like to have your notion of the

Answer: Try TaxAct

I have narrowed down my choices to Turbotax and Taxact for filing taxes for my businesses. I'm lately going to have run each one and see what saves more money.

http://bit.ly/fnNli4

I hope that helps, and if you do it before I do let me cognizant of which one saved you more moolah.

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How Can I File My Business Tax (s-corp) On My Own?

Question by Sung C | Posted in United States

I am infuriating to save money this year by doing my own company tax. It is a small S-corporation in GA. Is there a software I can use to portfolio? When I look at turbo tax, it doesn't list corporation as one of the possible choices. Any help would be appreciated. Thanks.

Answer: Basically, what I did, ( I have an LLC) is e-fill out, on www.irs.gov,
and the site it transfers you to will let you fill in blank by blank (invest in a printing calculator) your added up profits and etc. gives you one click windows to forms and directions, so you can be told things, go through
them carefully, part by part, and even adds the totals up for you on each form you have to fill out. Basically, this is what anyone you hire is present to do, minus the 400 dollar fee. PLUS

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What Is A Business Tax Receipt?

Question by R P | Posted in Small Business

I prerequisite to open a small home based business. I am not sure where to start. I looked online at the tax accumulator's office and they mention a business tax receipt? Is this my first step? Any help will be greatly appreciated.

Answer: that depends on where you end. Check on your government web pages for starting a business .steps to take when starting a business. This is for starting a business in Canada but it gives you an goal of what you need.
http://canadabusiness.gc.ca/gol/cbec/sit e.nsf/en/bg00328.html

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