The Tax Preparation Blog

Archive for December, 2005

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Question: Please provide the depreciation chart (2008-2009)as per income tax in india?

Answer: go to income tax department website

TurboTax Home & Business Federal + e-File + State 2010 – [Old Version] $8.15 Designed for sole proprietors, self-employed, consultants, 1099 contractors, and single-owner LLCs. Expanded interview walks you through entering business income and expenses to help you maximize business and personal deductions, home office deductions, depreciation and more. Create W-2 and 1099-MISC forms for your employees and contractors. The Intuit TurboTax Home & Business Tax Year 2010 Softwa…

QuickBooks for Mac 2012 $129.50 Easily manage your businessProductInformationQuickBooks for Mac 2012 is small business accounting that lets youorganize your finances all in once place so you can quickly find whatyou need.  Easily create invoices and track your businesssales and expenses – and get reliable records for tax time. QuickBooks for Mac 2012 is set up in minutes and is easy tolearn and use along with looking a…

TurboTax Home & Business Federal + E-file + State 2011 $74.95 This tax software features the EasyStep® Interview for a step by step guide to efficient calculations in deductions, investment sales history and other tax-related issues. Ideal to use if you are a sole-proprietor, consultant, 1099 contractor, self-employed or a single-owner of LLCs; this software features ItsDeductible®, Audit Risk Meter® and Cost Basis Lookup to help accurately calcu…

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Focus: A look back at politics in 2009

CLEVELAND — 2009 was a landmark year in Ohio and for local politics.

Former IRS Agent and Ron Paul say Federal Income tax is illegal

TurboTax Home & Business Federal + e-File + State 2010 – [Old Version] $8.15 Designed for sole proprietors, self-employed, consultants, 1099 contractors, and single-owner LLCs. Expanded interview walks you through entering business income and expenses to help you maximize business and personal deductions, home office deductions, depreciation and more. Create W-2 and 1099-MISC forms for your employees and contractors. The Intuit TurboTax Home & Business Tax Year 2010 Softwa…

TurboTax Home & Business Federal + State + Federal efile 2009 $42.89 TURBOTAX HOME & BUSINESS WITH…

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Taxpayers Prevail on Use of Fixed Dollar Formula Valuation Clauses

Taxpayers have prevailed in two cases where the amount given to a charity was to be determined by reference to asset values as finally determined for estate or gift tax purposes.

2 Million Protest Washington DC 2009

Question: Im a divorced guy, and earned about $15,000 in Quebec, Canada last year. What tax exemptions exist for me ?

What are the criterias for reducing income tax ? What is a tax write-off ? Is my estimation that on $ 15,000. of declared income in Canada, I would have to pay around $ 2000 income tax ? I don’t own a home yet, and live mostly in my truck when the weather is warm enough to save on rent and attempt to save toward a cabin.. Is there a way to be creative with one’s taxes ? Besides personal criteria for tax exemption, how much can I donate to charity or to an individual doing charitable work ? Can I write off any percentage of what I would pay in income tax toward my 20 yr old son’s college or univeristy education ? I am almost constantly driving and traveling when I do sales work.. Are there bills or receipts I am supposed to keep during the year that are helpful toward tax exemptions ? My commercial art business is not yet officially registered. To qualiify for tax exemption, is there an advantage to having your business registered or is it ta disadvantage ?

Answer: You can donate up to 75% of your net income. The non-refundable tax credit is 15.25% of the first $200 that you donate and 29% of the rest.

If your 20 year old son attended post-secondary education and received a T2202a for the tuition, HE has to claim it first if he has income to apply it against regardless of who paid for it. If there is any left after he claims his maximum, he can choose either to transfer it to you or to carry it forward until the next year.

You are self-employed. Sorry, I don’t have much experience with small business. It would be difficult to determine which percentage of your vehicle is used primarily for work and which part for personal…

You may need to speak to a tax professional or accountant to see what exactly you would qualify for as you get your business up and running.

The Two-Income Trap: Why Middle-Class Parents are Going Broke $6.12 Book Description Publication Date: August 17, 2004 In this revolutionary exposé, Harvard Law School bankruptcy expert Elizabeth Warren and financial consultant Amelia Tyagi show that today’s middle-class parents are increasingly trapped by financial meltdowns. Astonishingly, sending mothers to work has made families more vulnerable to financial disaster than ever before. Today’s two-income family…

QuickBooks for Mac 2012 $129.50 Easily manage your businessProductInformationQuickBooks for Mac 2012 is small business accounting that lets youorganize your finances all in once place so you can quickly find whatyou need.  Easily create invoices and track your businesssales and expenses – and get reliable records for tax time. QuickBooks for Mac 2012 is set up in minutes and is easy tolearn and use along with looking a…

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N.S. premier says daunting task ahead as NDP gov’t deals with fiscal mess

HALIFAX, N.S. – A scant six months after his historic election win, Atlantic Canada’s first NDP premier says he faces a “daunting task ahead” as he grapples with a faltering economy, potential labour unrest and a province that is more than a half billion dollars in the red.

CHAPTER FOUR: McCain on McCain: FNC 10/19/08