The Tax Preparation Blog

Archive for the ‘Tax Professionals’ Category

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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

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) $2.47 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: A question for working actors or tax professionals…?

Hi there,

My wife has recently started professional work as a paid actress. Is there a governing rule as to how much of each paycheck she should be setting aside for end of the year taxes? Is there a flat percentage that is considered ’safe’? Any information would be appreciated.
*Edit* Thank you Judy. If you come back and read this edit – can you explain quarterly payments? I’ve always worked a corporate 9 to 5, so I just do annual taxes like most people.

Will being a paid actrress mean she has to fill out quarterly paperwork for the state or the fed? She has a ‘normal’ job, the acting is just on top. And it’s not a lot, but it’s well over the $600 annual minimum to not have to file.

Answer: as you know, if you break a law there is a consequence.

in your case, the consequence of not making quarterly payments would only be a penalty and some interest.

i personally know some people who just file at “tax time” and pay the extra amount to the state and the irs. they do this because they prefer to have the capital on hand as opposed to sending it in every three months. the irs has not told them to stop this practice probably because they always save enough and pay the total due.

however, you may want to pay quarterly. if you have no clue as to what to do, just go to your local tax preparer shop. they can do this in a jiffy!!! otherwise, go to www.irs.gov and search “form 1040-es” and the correct forms will come up.

JK Lasser’s New Rules for Estate and Tax Planning (J.K. Lasser) $10.58 A complete guide to planning an estate under today’s tax rules When it comes to your estate-no matter how big or small it may be-you shouldn’t leave anything to chance. Proper planning is necessary to protect both your assets and your heirs. Experts Stewart Welch III, Harold Apolinsky, and Craig Stephens know this better than anyone else, and in the Third Edition of J.K. Lasser’s New Rules for …

Pros & Cons of LLCs: How to Shape a Limited Liability Company (LLC), Understand Its Rules, Prepare Tax Returns & Fend Off Con Artists (Series 200: Investors & Businesses) $12.99 Expressing the legal limitations and realities of how Limited Liability Companies (LLCs) are formed and how they operate, this tax guide seamlessly blends jargon-free writing with concise, expert explanations. From the hybridized origins of the LLC designation to the modern day difficulties brought on by con artists, this guidebook covers every need-to-know aspect of this unique and flexible entit…

Private Foundations: Tax Law and Compliance 2011 Cumulative Supplement (Wiley Nonprofit Law, Finance and Management Series) $75.29 …

Local rules an obstacle to home wind energy

In the summer of 2007, New Hampshire Public Radio ran a story titled “Local Zoning Laws Hinder Wind Power.” (NHPR, 06/27/2007) A year later, the Associated Press reported “Bill Supporting Residential Wind Turbines in NH Passes.” (A.P., 08/01/2008)

Roth IRA: The New Rules (Part 1 of 2)

Question: Now that we know that the Arctic ice is recovering, can we stop wasting more tax dollars on so-called AGW?

Wouldn’t the money be better spent on programs to instill a sense of professional integrity/honesty in pro-warming “scientists”…. ie. Mann, Jones, Hansen….. etc.

“Arctic Ice Volume Has Increased 25% Since May, 2008″

“In 2008, less than half of the ice (47%) was greater than two metres thick. Now, more than 75% of the ice is greater than two metres thick. In 2008, 18% of the ice was more than three metres thick. This year that number has increased to 28%. There has been nearly across the board ice thickening since 2008.”

http://wattsupwiththat.com/2010/05/29/arctic-ice-volume-has-increased-25-since-may-2008/

http://www7320.nrlssc.navy.mil/pips2/archive/pips2_thick/2010/pips2_thick.2010052700.gif

http://www7320.nrlssc.navy.mil/pips2/archive/pips2_thick/2008/pips2_thick.2008052700.gif

Winton/Earl:

Aren’t the results in the so-called “study” that both of you refer to based on ‘whale bone evaluations’?

Answer: We should stop wasting money on AGW no matter what the arctic sea ice is doing. There was not Ice at the north pole in 1958 and no body was concerned then so why are we concerned now.

Accounting firms: ranked by number of professionals in the San Fernando Valley.(The List)(Illustration): An article from: San Fernando Valley Business Journal $5.95 This digital document is an article from San Fernando Valley Business Journal, published by CBJ, L.P. on September 29, 2003. The length of the article is 3118 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 Deta…

Accounting firms: ranked by number of accounting professionals in L.A. County.(The List)(Company rankings): An article from: Los Angeles Business Journal $5.95 This digital document is an article from Los Angeles Business Journal, published by Thomson Gale on March 6, 2006. The length of the article is 4153 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 DetailsTitle: …

Accounting firms: ranked by number of accounting professional in L.A. County.(The List): An article from: Los Angeles Business Journal $5.95 This digital document is an article from Los Angeles Business Journal, published by CBJ, L.P. on March 14, 2005. The length of the article is 3892 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 DetailsTitle: Ac…

Indonesia To Place Tax Officers In Overseas Embassies,

As part of the government’s drive to increase budgetary revenue, its Tax Director General, Mochammad Tjiptardjo, has disclosed a plan to place tax officials in Indonesia’s embassies in selected countries.

Tax on Short Sale, Loan Modification and Foreclosure – Mortgage Forgiveness Debt Relief Act