The Tax Preparation Blog

Archive for the ‘Paying Taxes’ Category

Question: rights of income tax payer during search – survey in india?

Answer: Bharath, can you elaborate on your question pls…

Cheers,
Anand

http://anandvijayakumar.blogspot.com

mail me at anandvijayakumar@ymail.com if you need any more details.

Have a long-term perspective

At eight per cent, returns from infrastructure bonds are decent. But liquidity is an issue.

Incometax

Budget 2011: Chancellor George Osborne’s speech in full

Chancellor George Osborne says Budget 2011 is “about reforming the nation’s economy, so that we have enduring growth and jobs in the future.” Here’s his speech in full:

Swindon 1-3 Leeds, 13/9/08 – 2-1, It’s Your Keeper’s Fault

Question: form 1040 ES vouchers?

I’m trying to fill out the 2008 1040ES form given this info:
2007Federal AGI: 237,000
2007 Federal Income Tax Liability: 41,500
Anticipated 2009 withholding: 30,000

I’m given a list of estimated tax payments for 4/15/08, 9/15/08, and 1/15/09.
How would I fill out the first voucher that is due 4/15/09? How would I figure my amount of estimated tax I’m paying?
Okay, I mean the 2009 ES

Answer: The hard way involves estimating what the 2009 tax liability will be. If you know that amount, multiply by 90%, subtract $30,000 (the anticipated withholding), and divide the amount that is left by 4. If you do not know the 2009 tax liability, then take the 2008 tax liability, subtract $30,000 (the anticipated withholding), and divide the amount that is left by 4.

Small retailers join online shopping war

THE National Retail Association has added small retailers’ voices to the call for a GST on online sales as the retail sales war heats up.

Ron Paul on the Public School System

Electronic Payments

Question: What exactly are Tax Schedules? Help Please!?

My college needs a signed copy of my parents 2008 Federal Income taxes, along with W2s and any other schedules… What are these schedules? Are they like property taxes, mortgage interest payments, real estate taxes, bank statements, or the 1099-G form? These that I just listed are what my parents have in their 2008 Taxes file, that’s why I listed them. (I suppose I could ask my parents, but they’re gone right now and want to send these back asap). Thanks.

Answer: The college doesn’t need all that. If your parent’s taxes are complete, then just make a copy of the entire thing- the tax return- all your needed schedules will be in there. If they say they also need a copy of any W-2s, go ahead and make a copy of those as well.

Hope that helps. :0)

Tax Cutters Set Up Tomorrow’s Fiscal Crisis: Simon Johnson

President Barack Obama is receiving congratulations for moving to the center on the tax agreement with Republicans last week.

Geithner’s New York FED bank told AIG to hide payments to Goldman Sachs. GEITHNER MUST GO!