The Tax Preparation Blog

Posts Tagged ‘business’

Question: Tax Help: Refund Question?

I just checked the status of my return on IRS.gov, and it gives the following info:
We are sorry, we cannot provide any information about your refund. For more information, please continue.

Please read the following information related to your tax situation:
Tax Topic 152 – Refund Information
If you have questions or need additional information, please have the following on hand when you call:
A copy of this page.
A copy of your tax return.
The Social Security Number, Filing Status, and refund amount claimed on your return.
The date you filed electronically.
Please mention reference number 8002 to the IRS Customer Service Representative
Does anyone know what ref 8002 means? I call the IRS and they said that it would take about 3 weeks to process the return and that the website was spitting out these ref numbers…could that be right…I just want to know if I am getting audited or something.

Answer: They generally tell you if you’re being audited. But they may have pulled your return for a quick examination. 3 weeks isn’t too bad, keep checking online. The fastest way to get your refund is e-file with direct deposit into your bank account. You can try calling again, see if different answer.

The Main Street America Group Promotes Four to Executive Positions, Appoints Four New Officers

The Main Street America Group announced today that its board of directors has approved the officer-level promotions of Mike Lancashire to senior vice president, claims and integrated customer solutions; Tom Frazier to vice president, chief investment officer; Dick Schultz to vice president, chief accounting officer; and Cathy Parrish to assistant vice president, director, compensation and …

Liberty Tax Commercial

Question: CPA or CPA candidates help! Advanced accounting? or Auditing (Financial)?

Hi. I have a bachelor’s degree (not accounting or business-related major). Although I don’t have accounting major degree I took lots of accounting and business-related classes at Junior College and University after transfer.
I did look at my college transcripts and found out that I only have 3 units left to meet educational requirements (accounting 24 units, business-related 24 units). And I’m thinking about to take “Advanced accounting” or “Auditing (Financial)” class at an accredited education institute.

I took “Principle of accounting 1 and 2″, “Intermediate accounting”, “Federal Income tax”, “Cost Accounting”. And I’m eligible to take both Advanced accounting and Auditing class.
But I only want to take one of them due to money issue.

And then from next year I want to start review courses either Becker or Wiley.

Which class do you recommend me to take? Advanced accounting or Auditing?

Thanks

Answer: Auditing. It would help you in your CPA board exam. Take note that it involves both theory and practice. Also you need to have extensive knowledge in Financial Accounting. Auditing is purely analytical whereas Advance Accouting is more procedural.
I took both since I finished BS Accountancy. Auditing is one of the most difficult subject areas in my undergraduate years and also during board exam. But it’s worth it because I get to work in an Accounting firm years ago. Now I’m into Forensic Accounting. Much more interesting.

Dolby Labs: The Kings of Immersive Audio Selling at a Discount

By Bill Smith. INVESTMENT THESIS Read more » »

VITA Program

Question: where to get started??!!?

You see my husband and I started our construction business this year. We did ok but i’m really confused about filing our taxes. I know we have to issue 1099′s to our sub contractors, but i’m not sure how. Also, what do we do for our own taxes. I’m pretty new at this, and am prob. going to get a professional to handle it. But I would like to know what to expect. I dont want to be audited. My husband has an itin number and i have a tax id number for my business. Can you give me an idea of where i need to get started?

Answer: !st rule of business is file for and extension which will take you out to october of 2008. 2nd is get an accounting agency they are well worth it.

Union ‘thrilled’ by UI plan to help tax-stricken

URBANA – A graduate employees’ union is “thrilled” by the University of Illinois’ plan to help graduate assistants shoulder unexpected tax-withholding costs this semester. Graduate assistants due to have money withheld from their paychecks starting next week can get emergency grants from the university to cover the cost. read more

Tax Accountant Danville CA: (925) 361-2382

Jobless Claims Fall to 368K

Initial Claims for Unemployment Insurance were much better than the expected level of 400,000.

W4 Calculator Withholding for 2010, 2011

Question: How to calculate T.d.s.on amount including service tax?

If professional fees includes service tax, on which amount T.D.S. to be deducted: on gross amount or on amount excluding service tax?

Answer: to calculate TDS on your salary

calculate
your salary x 10.33 / 100 = your TDS deduction

Senate Tax Chair Says Tax Breaks Same As Spending

The Republican chairwoman of the state Senate Taxes Committee says she views tax breaks as state spending and says they should be reviewed to see if they should stay on the books.

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