The Tax Preparation Blog

Archive for September, 2009

Question: How did you select your tax professional?

If you are using a tax professional for preparation this year, how did you select such person? Thanks.

p.s you can also indicate if you are now using one.

Answer: Yes I am using one. He’s a CPA and he’s my father in law

Biz Week Calendar: 01/12/2010

Seminar on Website Basics offered by NorthSky Nonprofit Network; 10 a.m.-noon at Northwestern Michigan College’s University Center; speaker is Andy Wolber, executive director of Michigan N-Power.

Bookkeeping, Payroll & Tax Services by Professionals

Question: I am purchasing a car from California, but live in Ohio…?

The dealer said, in order to avoid paying California Sales Tax, I would have to ship my car to Ohio. Does anyone know why, or if there is a way around it?

Answer: No way around it the dealer has to prove to the state of Calif. it sold out of state. The shipping co invoice shows that so hes not liable for the tax. Then you pay the sales tax in Ohio when you register it.

Highlights from the Fed’s latest economic survey

Highlights from the Federal Reserve’s survey of economic conditions nationwide.

VARRIO LIFE STYLE ON THE CENTRAL COAST CALI 831

IRS to begin regulating tax return preparers

New IRS regulations will be put into place for tax return preparers.

State of the Income Tax Preparers Marketing Union January 21

Question: Can I still deduct state & local taxes like I have the past couple years? We have no state income tax in FL.?

The past couple years I know I’ve been able to deduct a certain amount of taxes on a Schedule A (Itemized Deductions) line 5 for State and Local Income Taxes. If you don’t have all your receipts they gave you a certain amount (from a table) based off your income.

I’ve gone through my taxes online this year and I’m not finding where this same deduction is available? Has this item expired? Or am I missing something? Anyone done their Federal Income taxes for 2007 found this to be true? Thanks!

(Obviously we don’t pay state income tax in FL.)
PS – I’m using H&R Block TaxCut…and I’ve gone through it several times and it’s not coming up! I used this product last year and it worked fine. This year I’m starting to worry!

Answer: It’s the sales tax deduction. It’s alive and well having been extended for one year. Here’s the link to the 2007 calculator to get the table amount for you.

http://apps.irs.gov/app/stdc/stdc.html;STDCSESSIONID=lyj3HwJFjJ6ThrJ238kv5fgh6LRpmlvc35RrcwNYjyx5BfJJNV8b!2087028831!-707767978

Reinventing Airport Boulevard

Can ‘form-based zoning’ transform a suburban drag into walkable neighborhoods?

Federal Land Acquisition Agenda & Murder Exposed – Economic Crisis 2009

Question: Do I need an EIN or Tax ID # for my online website if the only money I make is from selling ad space?

I do not sell any products or services. The only income the site makes is from offering ad space. I guess you could consider that a service but it is not the sites main purpose.

Answer: Hi –

There are 6 questions that the IRS has posted at it’s website in regards to this issue. If you answer “no” to all of them, you don’t need a Federal Tax ID # (EIN). Here are the questions: http://www.irs.gov/businesses/small/article/0,,id=97872,00.html

M66, 67 tax campaigns out in full force Saturday, Sunday

 SALEM, Ore. (AP) — Since Thanksgiving week, Oregon’s airwaves have been flooded with TV ads from both sides in the battle over tax increases the Legislature imposed on corporations and higher-income earners.    Now it’s Oregon voters’ turn to have their say, with local election offices beginning to ship 2 million mail ballots to households this weekend for a Jan. 26 referendum election on the …

AD AJ TAX SERVICE.