The Tax Preparation Blog

Archive for the ‘Tax Charts’ Category

Question: copy of retail sales tax?

I own a business and sale retail beauty supplies ‘m looking for a 7.75% tax chart

Answer: Try your local Chamber of Commerce.

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Question: Question about Income Tax and Penalties?

My husband’s employer stopped taxing federal income taxes out of his paychecks a few months into 2009. When he inquired about it, they stated they were using a new chart because of the supposed stimulus that was to be thru paychecks. Well, now it’s tax time and he owes. We file seperately and have to due to a very old debt that takes any return of his, but usually he breaks pretty close to even at tax time. We owe $460 this year. While my return will have enough to pay this, my questions are:
1. I have heard of the underpayment penalty… will he be charged this if we pay on time, or has he already been charged this. If so, is there any way around it for this year?
2. I figured up that if they had held out as little as $10 more a paycheck, he would have broke about even ($10 x 52= $520). Is that correct, and is there a way to have them do this?
Thanks for any help!

Answer: You won’t owe any penalty for underwithholding – that doesn’t kick in until the amount owed on the return is $1000.

Yes you can request extra money to be taken out by filing a new W-4 with the extra amount on line 6. If he has “married” on his W-4 he should change it to “married, but withhold at the higher single rate” – if he does that, they’ll take out more, and that would probably fix the problem without requesting the extra to be taken out. Either way should work.

This is a Backgrounder On Health Care

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Federal Income Withholding Tax Tables for 2009, 2010

18,070.75

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Question: States Sales Tax?

I live in Canada, and am starting an e-commerce business. What I am looking for is some sort of chart that will let me know how much sales tax to charge to each state. Does anyone know. Searching the web is not always that easy.

Answer: why would you charge state sales tax since your business is based outside of the usa.
I would think you would merely have to charge a canadian tax.
Stuff from canada seems to be more expensive anyway…if you charge tax also you might have a hard time finding an audience.

I guess the bottom line would be to check with an attorney that specializes in commerce to be sure that you are required to charge state sales taxes

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Introduction to HST for Ontario and British Columbia

Question: IRS Tax Credit: State CA? How much credit for being married and claiming your wife as a dependent?

I have been all over the IRS website and I can not find how much more one would receive if they were to get married and claim his wife as a dependent for the whole year of 2007 since she did not work at all? Its it a percentage? Is it flat amount? Is it based on husbands pay? Any one with the best info to help me out?? Thank you but please don’t say look up the website of IRS..I have been on it for an hour and can’t find any infomormation…OOh and chart if possible of what amount each deductable is would be great as well. Thanks again!
No Its doesn’t have to do with GETTING Married..I already am and have been..This is just a general question…I am courious to understand the IRS more. Thats all!

Answer: When file married jointly instead of filing single, you and your spouse get more standard deduction and exemption deduction on your federal tax return.

For 2006, you are entitled to $ 10,300 standard deduction and $ 6,600 exemption to reduce your adjusted gross income. On the other hand, you would only get $ 5,150 standard deduction and $ 3,300 personal exemption if you file as a single.

Regarding the tax rate, it depends on your taxable income. I hope this answers your question.

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The Spill Tax