The Tax Questions Blog

Archive for September, 2009

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Question: is a speed dating service taxable by the state??

Answer: if it made money then it is.

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Avoiding a Legacy Nightmare You might not be worried about night time monsters hiding under the bed but you should be concerned with the many ways poor planning can turn your estate into a barren, nightmare landscape for your loved ones. Avoiding a Legacy Nightmare helps you start an internal conversation about what your legacy means to you and what you want it to accomplish. More than that, it’s a simple guide to help you...

Tax treatment of employer-provided outplacement services.: An article from: The Tax Adviser $5.95 This digital document is an article from The Tax Adviser, published by American Institute of CPA's on December 1, 1992. The length of the article is 773 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.From the supplier: ...

JIM FLYNN: From deathbed, estate tax will rise again in 2011

For high-net-worth individuals who take their estate planning seriously, 2010 is an important year. That’s because this is the year they need to die in order to avoid paying an estate tax. The story here goes back to 2001, when Congress, after much...

MeltDown #174 EMERGENCY ECONOMIC STABILIZATION

Question: sales tax for used cars in north carolina?

What is the tax charged for a used car in north carolina?

Answer: North Carolina Sales tax for a vehicle purchase is 3% of the taxable amount. The definition of the taxable amount is the amount of the purchase price of the vehicle less any trade-in credit. So for example:

If you were purchasing a $10,000 vehicle with no trade you would have 3% sales tax on $10,000 or $300. If you had a trade that is worth $3000 that you are using toward the purchase then the the taxable amount would be $7,000 and the tax would total $210.

Hope this helps.

Ken

Marijuana supporters ready for likely vote in November

OAKLAND — Richard Lee, California’s best known marijuana entrepreneur, says he knew he was onto something back in 2007 when he took out an ad in an East Bay alternative newspaper asking people to contact him if they had an interest in learning about California’s medical marijuana industry.“The phone rang off the hook immediately,” he said. “Within three or four days we had 100 people on a list ...

Sales Tax for Infrastructure?

Question: Living in Ontario Tax Claim in Quebec; Housing rebate?

I work in Quebec: I am paying for a room in Quebec during the week half of which is being paid by my employer. I was planning to file in Ontario. How does this work and how should it be claimed?

Answer: On an Ontario return, you cannot claim the rent credit for rent paid in any other province. It's only for rent or property tax paid in Ontario.

If you are living in Québec, you should be filing a Québec return. Is that where your permanent residence is, or do you commute from Ontario to Québec on a weekly basis? If it's the second situation, then you actually would still be a resident of Ontario.

Québec is the only province where you have to file a separate provincial income tax return. Ontario taxes are calculated on the same return as the Federal taxes. If you're working in Québec, your employer will give you a RL-1 slip showing the amount of Québec income tax withheld. You will need this in order to file your regular return properly.

Economy big issue: Barwick

The economy and bringing jobs back to St. Thomas are key issues when it comes to this year's municipal election campaign, says incumbent Mayor Cliff Barwick.[...]

Tax Advice for Entering the Workforce - Tax preparation Canada

A Social Security Owner's Manual, 2013 Edition: Your Guide To Social Security Retirement, Dependent's, and Survivor's Benefits $11.37 A guide to the Social Security system for retirees, future retirees and advisors of retirees. All the essential information about the Social Security system is in one small place....

PassKey EA Review, Complete: Individuals, Businesses and Representation: IRS Enrolled Agent Exam Study Guide, 2013-2014 Edition $140.74 Learn how to become an enrolled agent with PassKey's comprehensive EA Review study program, newly revised and thoroughly updated for tax year 2012. The numerous sample questions and answers at the end of each chapter prepare you for the EA exam offered during the May 1, 2013 to February 28, 2014 testing window. This is an in-depth study guide for all three parts of the IRS enrolled agent exam. Us...

PassKey EA Review Workbook: Six Complete Enrolled Agent Practice Exams 2013-2014 Edition $51.92 Use this book to prepare yourself for the EA exam offered during the May 1, 2013 to February 28, 2014 testing window. This workbook includes two full exams for each of the three parts of the EA exam: Individuals, Businesses, and Representation. All the answers are clearly explained in the answer section in the back of the book. Using the Prometric exam format, you can test yourself on the foll...

To love, honor, cherish and pay taxes

Q: My fiancé and I were planning to get married Dec.11, 2010. We both earn about $140,000 a year, and with the new proposed tax laws, we are having second thoughts.

Question: Are dispostion costs taxable for capital gains?

Im having trouble with a homework problem. We bought at asset for 5,000 and sold it two year later for 10,000; with disposition costs of 1,000. If the profit on the asset (say land) is treated as a capital gain....what is the taxable income for the transaction. I think it is 10,000- the cost- the disposition; but im not sure eaxaclty how to treat this. Please help

Answer: Disposition cost is deducted from sale price

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All About Asset Allocation, Second Edition $10.51 WHEN IT COMES TO INVESTING FOR YOUR FUTURE, THERE'S ONLY ONE SURE BET—ASSET ALLOCATION THE EASY WAY TO GET STARTED Everything You Need to Know About How To: Implement a smart asset allocation strategy Diversify your investments with stocks, bonds, real estate, and other classes Change your allocation and lock in gains Trying to outwit the market is a bad gamble. If you're serious about investing...

The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns (Little Books. Big Profits) $12.02 Investing is all about common sense. Owning a diversified portfolio of stocks and holding it for the long term is a winner’s game. Trying to beat the stock market is theoretically a zero-sum game (for every winner, there must be a loser), but after the substantial costs of investing are deducted, it becomes a loser’s game. Common sense tells us—and history confirms—that the simplest and mo...

Money fund assets rose to $3.294T in latest week

Total money market mutual fund assets rose by $21.73 billion to $3.294 trillion for the week, the Investment Company Institute said Thursday.

7 Year Asset Transfer