The Tax Preparation Blog

Archive for the ‘Tax Accounting’ Category

Question: what is the professional tax rates in andhra pradesh?

why i am ask this quesion is resently AP chife Minister Mr.Y.S.Rajashakar Reddy has taken new decetion on this issue.

Answer: http://www.blonnet.com/2007/12/16/stories/2007121650980500.htm

http://www.citehr.com/professional-tax-andhra-pradesh-vt39139.html

INDUSTRY & ECONOMY

INFRASTRUCTURE: IRDA examining plea for easing investment norms Infrastructure funding not at the cost of investors, says Hari Narayan.

Question: Where can I file for a “Doing Business As” form (DBA)?

Hey guy,

I have no business license, and I don’t have a Tax ID, but I heard I can still file for a DBA form. My aim is to at least have a professional business name I can use when I fill out forms for affiliates, and other such business matters. I’m from NYC, where can I fill out a DBA form? And if I’m wrong about what I’ve said, please correct me.

Thanks.

Answer: In NY, dba certs are filed with the County Clerk’s office.

Restaurant Openings, Sustainable Planning

New Restaurants Chip Matthews, owner of the nightclub Fire, wants to bring spice to downtown every day of the week.

NYC Tax Dollars at Work…

Question: TDS on Professional Fee?

Hi
I am recruitment consultant. when i raise the bill to my client, they send in the cheques after deducting the TDS. I hv few questions abt this :
1. How can i take care of this at the end of the years,
2.Are there any tax deduction slabs in professional fee as well like income.
3. Also, do i need to show the proof of expensies done on business while filling the return?

It wud be helpful if smone cud address to these queries.
Thanks in Advance.
—

Answer: if your yearly bill to a client is more 20000 in a financial year than client is responsible to deduct tax on the payment .the rate of tax is 10 % basic rate plus surcharge10%on basic rate(if applicable) and cess 3% on (basic +surcharge).

1.tds is adjustable against your tax liability to which income relates on which tax has been deducted.if you have nil tax liability than tds will be refunded to you.
2. there is no tax slabs for tds on professional fee .
3. yes you should have resonable evidence for expenses you have done ,moreover if your gross receipts are more than 120000 than you are liable to maintain proper books of accounts and if your gross receipts are more than 10 lacs than your books should also be audited u/s 44ab

you can download free tds calculator from the link given below

http://simpletaxindia.blogspot.com/2007/10/free-tds-calculator-fy2007-08-excel.html

Ethical Problems in Federal Tax Practice (Casebook Series) $39.50 Ethical Problems in Federal Tax Practice, Fourth Edition, is the ideal tool for introducing students to the ethical considerations relating to tax practice and how one should deal with them in a professionally responsible way. This engaging casebook provides students with lucid explanations of all the rules and regulations that apply to lawyers who practice in the area of taxation and demonstrates…

Marketing for Cpas, Accountants, and Tax Professionals (Haworth Marketing Resources) $55.50 The contributing authors to Marketing for CPAs, Accountants, and Tax Professionals combine their expertise into a reference manual for today’s accountant. Presented in four sections, the book covers all areas pertinent to effective marketing for accounting firms in the 90s and beyond: The Marketing Process Are Accountants Responding to the Challenge of Change? Marketing by CPA Firms: Room …

J.K. Lasser’s Taxes Made Easy for Your Home-Based Business: The Ultimate Tax Handbook for Self-Employed Professional, Consultants, and Freelancers (Jk … Made Easy for Your Home Based Business) $2.41 Detailed coverage of home-office tax laws and IRS rules Comprehensive information on deductible expenses Keep your records up to IRS standards Sample tax forms for easy filing Tax/Personal Finance THE ULTIMATE TAX GUIDE FOR THE ULTIMATE WORKPLACE! The desire for independence, the rise in personal wealth, and, most significantly, the impact of the Internet have dramatically increased the numb…

JK Harris & Company Warns Taxpayers about the Consequences of a Federal Tax Lien

According to the National Taxpayer Advocate’s semiannual report released in July, federal tax liens are up 475% since 1999.

Tax Consultant

Question: what is the accounting code of secondary and higher secondary education cess for central excise,service tax?

what is the accounting code of secondary and higher secondary education cess for central excise,service tax
and custom and it is effective from which date

Answer: Accounting Code for Education Cess on all taxable services : 00440298

DDT confirms that the new 1% Secondary and Higher Education Cess on Service Tax will be effective only after the enactment of the Finance Bill.

it is effective from 1st June 2007

Timely-mailed equals timely-filed.: An article from: The National Public Accountant $5.95 This digital document is an article from The National Public Accountant, published by National Society of Public Accountants on January 1, 1992. The length of the article is 2548 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web b…

MACRS depreciation for property placed in service in short tax years. (modified accelerated cost recovery system): An article from: The Tax Adviser $5.95 This digital document is an article from The Tax Adviser, published by American Institute of CPA’s on October 1, 1992. The length of the article is 2254 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.From the supplier: …

Tax debt not discharged in bankruptcy when service prepares returns.: An article from: The Tax Adviser $5.95 This digital document is an article from The Tax Adviser, published by American Institute of CPA’s on December 1, 2003. The length of the article is 1062 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.Citation DetailsTi…

Fitch Rates Lakeland, FL’s Non Ad Valorem Revs ‘AA-’; Outlook Stable

NEW YORK–(BUSINESS WIRE)–Fitch Ratings has assigned an ‘AA-’ rating to Lakeland, Florida’s (the city) non ad valorem revenue bonds: –Up to $62.2 million, series 2010A tax-exempt; –$12.8 million, series 2010B taxable; –Up to $20.2 million, series 2010C taxable Build America Bonds (BABS). The bonds are expected to sell via negotiation in September. In addition, Fitch assigns the following …

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