The Tax Preparation Blog

Posts Tagged ‘business’

Question: Should tax payers provide services to illegal immigrants?

http://www.latimes.com/news/local/la-me-illegal10-2009jul10,0,3398621.story

California state welfare officials estimate that cutting off payments to illegal immigrants for their U.S.-born children could save about $640 million annually if it survives legal challenges.

California has roughly 2.7 million illegal residents, according to an April 2009 report from the authoritative Pew Hispanic Center, accounting for about 7% of the state’s population. State officials estimate that they add between $4 billion and $6 billion in costs, primarily for prisons and jails, schools and emergency rooms. Beyond those services, the illegal population adds to the overall cost of other parts of local government, from police and fire protection etc.

This is just for California. What does it cost every state?

Answer: Absolutely, a shuttle service right back across the boarder into Mexico. God bless.

Free tax filing

United Way program provides no-cost tax help and filing

bentley custom golf cart

Question: Tax return? how much should i expect back this year?

If I made $12,375 and about $2000 was taken out for taxes how much should I expect on my tax refund this year? Ill be claiming my daughter this year. I’m a single parent and have full custody of my daughter. I don’t own any houses or cars.

Answer: The $2000 taken out include ss/mc withholding ($950), neither of which is refundable.

Tax accountant talks Dayton’s proposed tax increases

Michael Schaffer, a certified public accountant, discussed how the proposed tax increases would impact Minnesotans during an interview with All Things Considered on Wednesday.

Tax Tips: Do I Have To File a Tax Return? (ASL, Captions & Voice Over)

Here is What to do If You Are Missing a W-2

IRS Tax Tip 2011-28, February 09, 2011 Before you file your 2010 tax return, you should make sure you have all the needed documents including all your Forms W-2. You should receive a Form W-2, Wage and Tax Statement, from each of your employers. Employers have until January 31, 2011 to send you a 2010 Form W-2 earnings statement.

Question: Line 363 Canada Employment Amount Federal Tax Sch. 1?

okay i should probably repeat grade 7 but i’m not getting how this helps me. in the guide it states that the non refundable tax credits reduces your federal tax but if the total of these credits is more than my federal tax i will not get a refund for the difference. if i hadn’t entered the amount of $1,019 on line 363, i would be getting WAY more of a refund. as it stands, i now owe, as it’s more than the federal tax i paid. also, if you entered an income of over $1,019 (and like who wouldn’t…) on line 101 of the return, then you enter the maximum ($1,019) on line 363 of the federal tax schedule? sorry if i sound dumb, but this is the first time i’ve done my own taxes. somebody tell me how this helps me out, this line 363 amount, thanks!!
actually, i checked it over and it was just my calculater display that screwed up and missed a number….so yes, with the $1,019 included, i saved $150, wooohooo! now i only have to pay $6 instead of …. well you do the grade 5 math, lol

Answer: >>if i hadn’t entered the amount of $1,019 on line 363, i would be getting
>>WAY more of a refund

This is impossible.

Either a Non-Refundable Tax Credit reduces your taxes by 15% of the line amount (in this case 15% x $1019) (see line 38 of Schedule 1), or they are more than the total tax liability, in which case they do nothing since line 23 can’t be negative.

It’s actually grade 5.

QuickBooks Pro 2012 $131.00 For the business that is upand runningProductInformation QuickBooks Pro 2012 lets you organize your business finances all in oneplace so you can quickly find the information that you need. Easily create invoices and track your sales and expenses -and get reliable records at tax time.  QuickBooks Pro 2012 canbe set up in minutes and is easy to learn and use.  Save timeand get or…

QuickBooks for Mac 2012 $129.50 Easily manage your businessProductInformationQuickBooks for Mac 2012 is small business accounting that lets youorganize your finances all in once place so you can quickly find whatyou need.  Easily create invoices and track your businesssales and expenses – and get reliable records for tax time. QuickBooks for Mac 2012 is set up in minutes and is easy tolearn and use along with looking a…

QuickBooks Premier Contractor 2012 $249.99 New to QuickBooks? Find out why QuickBooks is the #1 best selling small business accounting software¹. Organize your finances all in one place with accounting software tailored to your business Document and track change orders Instantly turn estimates into invoices and POs, bill clients by job phase Invoice multiple customer at once with Batch Invoicing Manage your jobs with ease using the Job C…

---

Taxman’s website source of TFSA confusion

OTTAWA – A single, ill-chosen word on the Canada Revenue Agency website appears to have compounded confusion about a popular tax shelter that left 72,000 people with unexpected tax notices last year.

The Ultimate Revenue Canada Taxpayers Survival Guide | Tax Help | Tax Protection

Question: Should i go for online registration with Indian Income tax site… does it develop any kind of complecations?

i am not awere how to do it…. does it help me…..if yes and how? i have a fixed salary and no other source of in come

Answer: no complications at all. if you are sure about your income and tax calculations, then log on to www.incometaxindiaefiling.gov.in, then go through the steps as stated in the site. no problem at all.

Hometown Happenings 0212-13

Community happenings…

4/8 Income Taxes – Govt Deception Revealed – Robert Arthur Menard