The Tax Preparation Blog

Archive for December, 2008

Question: Are business owners liable for independent consultants taxes?

I’m own my own business and would like to have independent sales rep / consultants to help promote my business. They would get anywhere between 25% – 30% commission and personal discounts. And allowed to sell anywhere they wish – online, ebay, in person, home parties, etc.. As a business owner, what do I do about taxes? Do I file it for them? Or do they file it themselves? Where do I find the forms?

Answer: Independent contractors are responsible for their own taxes and filing. You are required to issue a 1099 for them at the end of the year, by 1/31. You also need to file that information with the IRS.

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Texas candidates pay top dollar for ammo about the opposition

Opposition research will play a big part in many Texas races.

Online Tax Consultant South Bend 574-234-9702

Over half (58 percent) of the UK’s landlords are feeling more confident about the buy-to-let market in December 2009, than they did last month, according to the latest poll[1] from Upad.co.uk.

Comments made by those respondents feeling more confident included:

For the 42 percent who are feeling less confident, statements included:

Commenting on Upad’s Rental Confidence Index findings, James Davis, company founder and CEO, said: “It’s positive to see that landlords are – for the main part – feeling more confident about the buy-to-let market.

“2009 was a challenging year for the private rental sector – mortgages became scarce, and the shortfalls of amateur landlords were exposed.

“This is our first Rental Confidence Index, and we intend to run them on a monthly basis – polling more than 10,000 landlords. Through them, we can gauge an overview of market optimism. And, I firmly believe that confidence levels will continue to increase throughout 2010.”

Upad.co.uk launched in October 2008, enabling landlords to advertise each property for a one-off cost of £59. The service then became available to the 1.5 million landlords across the UK in May 2009.

-Ends-

Notes to editors

About Upad.co.uk:

Upad.co.uk is the UK’s largest online lettings agent, with more than 250,000 rental properties.

The site provides landlords with the largest online property distribution platform, ensuring extensive exposure for their properties. And, it maximises tenant leads for landlords, minimising unnecessary void periods by offering a comprehensive tenant-find service. Landlords pay a one-off fee of £59 per listing.

Upad.co.uk is free for renters to use, and helps them find their ideal property quickly and easily. It enables online searches that are interactive and intuitive, to produce relevant properties.

Launched in October 2008 under the banner ‘reinventing renting’, the company’s innovative approach is aimed at filling a gap in the property rental market.

City sales and use tax revenues down

MONTROSE — City sales and use tax collections were 11.7 percent lower through November than they were a year earlier, but the budget is on track because it allowed for a 12 percent revenue drop.

How to Calculate Federal Income Taxes Online 2009, 2010.mov

Question: How bad is the US economy?

This is what I know from being a California State Insurance Auditor all of the AAA rated securities are the ones that are turning out to be like the Junk Bonds of the eighties but this time the crisis goes to the root of financial institutions and the government cannot continue to bail out messes because eventually the government would have to tax, The only good new I have been hearing is increased exports, but again how bad is it and is it just going to get worse?
All meaning a majority

Answer: Next is retail stores. This is just like black Monday in 1987 (under Reagan). Deregulation of the Banking Market in 1987 cause the down fall of the economy and Deregulation in 2002 cause this.

Rep’s economics ideology doesn’t work.

ALAC to release third annual State of Tobacco Control report card for California

American Lung Association in California (ALAC) will join civic leaders, medical professionals and local residents to release its third annual State of Tobacco Control report card for cities and counties throughout the state of California.

Urban Sprawl

Question: AVOID income and corporation tax?

I live and work in the U.K and i have an LLC in Delaware

The reason for creating the LLC in the U.K is to avoid paying corporation tax,
Delaware has no sale tax and because online business services are tax free (we have an online business).

Now that doesnt mean that i avoid income tax ..hmm our business bank accounts is in Germany

we have personal bank accounts in the U.K and portugal..

As I understand it and correct me if i am wrong.

I only need to pay income tax for the country that i am working in( i already do for my full time job in the uk) .. so if i transfer money from my business bank account in Germany to my personal uk account i have to declare this money and pay income tax for them …

What happens if i deposit this money to my account in Portugal (not resident of this country ) and then withdraw them form portugal.. i guess i don’t have to pay income tax to the uk .. is that correct ?

Answer: You are within European Union. You do not have to pay tax at all if you know the law. I mean the true law, not what any banker or so called tax return specialist tells you.

If you want to learn what your rights really are and that you do not need any credit ratings or any of that nonsense, contact me at my GMAIL address listed in my profile I will forward direct contacts in UK to you.

IRS touts free online tax filing

The Internal Revenue Service encouraged taxpayers on Friday to use its free online programs to file tax returns electronically. The method would assure filers get the tax breaks they deserve and, if eligible, get a return in as few as 10 days, said David Williams, the agency’s director of electronic tax administration.

Payroll On Your iPhone

Union anger prompts review of insurance tax

WASHINGTON — Health care negotiators are looking at options for easing a proposed health insurance tax that has angered organized labor, including the possibility of a new levy on the investment earnings of upper-income people.

State Senator John Millner discusses the FY 2010 Illinois budget and income tax increase