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school referendum passes what does it mean for business taxes?

admin — Sun, 21 Jun 2009 04:45:37 +0000

If I own a business in a certain school district and the property owners in that area decide to pass a school referendum to increase property taxes, what does that mean for me? Do I have to pay the same increase or do they tax me more? If different, how else can they get me?

It obviously depends on the tax area, but in general businesses pay the same property tax >rate< as homeowners. The big question usually is what value do they assign to your business. In other words, if your busuiness property is valued at $100,000 you would pay the same property tax amount as the owner of a home valued at $100,000 .

Tax settlement

admin — Thu, 18 Jun 2009 01:45:01 +0000

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Duration : 1 min 11 sec

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Does anyone know of any economists that praise Obama because he wants to raise corporate and business taxes?

admin — Sun, 14 Jun 2009 07:56:24 +0000

Can anyone provide a link to any economists that say raising corporate and business taxes will help a sluggish economy?
To poster "tonalc2": I begin to wonder how many of those economists in academia have actually run businesses, or if they've just been in university economics departments all their lives.

Here is a blog spot entitled economists for Obama.

http://econ4obama.blogspot.com/

If you don't feel like reading, here is a list

Economic policy advisors:
Jason Furman (director of economic policy) source bio
Austan Goolsbee (senior economic policy advisor), University of Chicago tax policy expert source Wikipedia website
Karen Kornbluh (policy director) source bio Wikipedia
David Cutler, Harvard health policy expert source Wikipedia website
Jeff Liebman, Harvard welfare expert source Wikipedia website
Michael Froman, Citigroup executive source bio
Daniel Tarullo, Georgetown law professor source bio
David Romer, Berkeley macroeconomist source website
Christina Romer, Berkeley economic historian source website
Richard Thaler, University of Chicago behavioral finance expert source Wikipedia
Robert Rubin, former Treasury Secretary source Wikipedia bio
Larry Summers, former Treasury Secretary source Wikipedia bio
Alan Blinder, former Vice-chairman of the Federal Reserve source Wikipedia bio website
Jared Bernstein, Economic Policy Institute labor economist source bio
James Galbraith, University of Texas macroeconomist source Wikipedia website
Paul Volcker, Chairman of the Federal Reserve 1979-1987 source Wikipedia
Laura Tyson, Berkeley international economist, Bill Clinton economic adviser source Wikipedia
Robert Reich, Berkeley public policy professor, former Secretary of Labor source Wikipedia weblog
Peter Henry, Stanford international economist source website
Gene Sperling, former White House economic adviser source Wikipedia

Other prominent economists who support Obama:
Brad Delong, Berkeley macroeconomist source Wikipedia website weblog
Joseph Stiglitz, 2001 Nobel laureate source Wikipedia
Edmund Phelps, 2006 Nobel laureate source Wikipedia
Ray Fair, Yale macroeconomist source Wikipedia
Dan McFadden, 2000 Nobel laureate source website
Robert Solow, 1987 Nobel laureate source Wikipedia

Prominent finance people who support Obama:
(not actually economists)
William Donaldson, Securities and Exchange Commission (SEC) Chair 2003-05 source Wikipedia
Arthur Levitt, SEC chair 1993-2001 source Wikipedia
David Ruder, SEC chair 1987-1989 source Wikipedia
Warren Buffet, investor, richest person in world source Wikipedia
Updated and revamped 6/9/08 to reflect new announcements and again on 6/28/08, 8/21/08, 8/22/08, and 9/7/08.

Love And Taxes

admin — Thu, 11 Jun 2009 23:02:04 +0000

Ahhh, Spring. When our utter desperation for companionship seems kind of cute.

Created by Party Central USA. Directed by Anya Garrett (anyagarrett.com). Edited by Mike Furth.

Duration : 4 min 43 sec

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i invested in a business in Canada but i live in the united states how would i pay my taxes?

admin — Sun, 07 Jun 2009 09:35:29 +0000

do i have to pay taxes in both country's or just business tax in Canada and income tax in the united states. how would my taxes be?

"Invested in a business" is pretty vague.

You definitely pay US taxes on everything.

If you bought stock, you would pay Canadian taxes on dividends and interest, but not capital gain.

If this is a partnership or sole proprietorship, you would file a return in both countries.

Sorry, you don't give us very much information here. Play again.

How do I file my small business taxes?

admin — Sun, 31 May 2009 05:28:19 +0000

Does anyone know how to file for your small business taxes? I started my own business last year and I have no workers it is only me but I do my own taxes from the free websites from the IRS site, Does anyone know how to file them or how I should file them?

You must use 1040 for your taxes and Schedule C self-employment. I don't know if filing your taxes will still be free or not.

Selling Your Business – Deal Structure and Taxes

admin — Wed, 27 May 2009 04:17:58 +0000

The purpose of this article is to demonstrate the importance of the tax impact in the sale of your business.

Duration : 6 min 37 sec

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Can you use your business lines of credit for your personal use and write it off on your business taxes?

admin — Fri, 22 May 2009 08:26:33 +0000

I have four business accounts:

Dell
Office Depot
Staples
Exxon

If I were to use my Exxon for half business and half personal, is that illegal? What are the stipulations on using your business credit for personal credit and writing the expenses off on your taxes? This will be the first year that I am doing real business. I just want to make sure I am doing everything right.
I have a legitimate business with a Tax ID Number and I do have one client so far. The only major purchases I have done is bought a new Dell computer for my home/office. Also, I have bought some office supplies but that's about it.

your home office has new, complex, laws. check with your accountant on how he/she wants you to document usage.
as for you business credit accts. you may use any/all you want for personal legally. it only becomes illegal when you try to claim them on your taxes-that's when IRS can come calling.
depending on your business type. these personal expenses could be calling on prospective clients, gas/mileage, office supplies, meals (with client), etc. just document everything. in many instances it is not how proper you are as how proper you appear. if it looks legit then IRS flags will not be raised. this leaves you with only the random audit.

Tax penalty

admin — Mon, 18 May 2009 11:42:07 +0000

Tax penalty from Power Tax Relief. http://www.Power-Tax.com offers IRS debt settlement and resolution, wage garnishment relief and bank levy help services. Reduce your IRS Tax Debt: Tax penalty. Visit http://www.Power-Tax.com today or call 800-700-6948 for more information about Tax penalty. irs tax debt relief, irs offer in compromise, tax offer in compromise, tax late fees, irs late fees, irs wage garnishment, back taxes, irs tax lien, income tax attorney, federal tax relief, tax debt relief, irs debt settlement

Duration : 1 min 12 sec

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Do I need to report local business taxes that were charged late?

admin — Wed, 13 May 2009 15:49:41 +0000

I live in Los Angeles. After filing my taxes for 2005 (I was self employed that year), I was sent a notice to pay income tax to the city because I was considered a business. I paid this bill in 2006 and closed the business account. Do I need to report this income tax I paid to LA in my 2006 federal and/or state taxes? And, if so where do I list it in the forms?

Since you paid the bill in 2006, you claim the deduction in 2006, not 2005.
Why? Because the majority of taxpayers are on the "cash basis". Income is
reported in the year, when received, and deductions are reported in the year, when paid.

Where to put it? Interesting question. You closed your business account in 2005, which I am assuming was a Schedule C. You have an option. You can
report it as a Schedule C expense in 2006, call it "Licenses and Taxes", show of course zero as income and claim it as a Schedule C net loss.

Or, you can report it on Line 21 "Other Income". Show "Statement Attached"
on LIne 21 and in the amount column show the amount in brackets ( ).
Attach a statement in the back of the return that you filed as a Schedule C
last year and since then you closed the bank account, and then you had to pay an additional bill.