The Tax Questions Blog

Archive for March, 2010

Flexible Solutions Announces Full Year, 2009 Financial Results

VICTORIA, British Columbia----FLEXIBLE SOLUTIONS INTERNATIONAL, INC. , a developer and manufacturer of biodegradable and environmentally safe, water and energy conservation technology, as well as anti-scalant and crop nutrient enhancement products, today announces financial results for the full year ended Dec. 31, 2009.

meltdown #227 EMERGENCY ECONOMIC STABILIZATION

Question: How long do you need to keep business records (US)?

How long should you keep business records for?

One business closed in 2005 -- do I need to keep those records?

A second business has been operating since 1999. Do I need to keep records that are 10 years old?

This is for US taxes and the IRS, by the way.

Thank you--
I found the answer here:

http://www.irs.gov/businesses/small/article/0,,id=98513,00.html

Anything from 3 years for most things to 7 years if you are claiming a deduction from a bad debt.

http://www.irs.gov/businesses/small/

article/0,,id=98513,00.html

Answer: If for tax purpose it three year

Beware the complicated and costly AMT

This parallel tax system snares lots of unsuspecting filers. Here are the warning signs.

Personal Financial Planning Tips : How to Keep Proper Records for Donations

Question: Should churches continue to be tax exempt?

Their tax exemption is based on their staying out of politics, but they all get into politics anyway, so would it be reasonable to just tax them like any other money making business? What is gained from leaving them tax exempt? The state governments and city governments urgently need money, the churches seem awash in cash, like the Mormons spending $25 million to destroy gay peoples' marriages in California. Is it time to tax the churches, or should they continue to get a free ride from the rest of us tax payers?

Answer: It's sad that a whole group must be penalized based upon what a few are doing wrong. I am not religious, but I do understand the value that some churches bring to the community; I think that charity organizations should not be taxed.

But what the Mormons did was not charity and the numbers are somewhat sickening. $25 million could have been used for better things than poking their nose in other's business. And to suggest that religion can "stay out of" politics is asinine. Religion has a huge influence on culture and people; culture and people have a huge influence on the Governmnet. There is one degree of seperation and that is the people. As a result, religion cannot stay out of the government.

And there are some that treat their church/religion as a business - **cough cough** Televangalists.

Federal manufacturers' excise tax purchases made by cities are exempt (Report / League of California Municipalities) ...

Downtown New York Towers Empty as Best Office Market Falters

March 30 (Bloomberg) -- Downtown Manhattan, where demand for office space began to surge three years after the 9/11 terrorist attacks, is about to lose its spot as the best- performing U.S.

NWO Mafia Building Deep Underground Cities Using Our Tax Money Preparing For 2012

Question: Are relocation allowances taxable?

Answer: Yes, any money your receive, no matter the source or what it is called is taxable and must be reported to IRS.
However it may also be allowed to be deductable expense, you must confer with a tax expert on this matter, remember the company is required to notify IRS of this payment to you so Do Not Try To Hide It from IRS. Good Luck

Over withheld FICA for long-term taxable travel or relocation reimbursements for 2001 package (SuDoc T 22.2/15:11752) ...

PRT Announces Results for Year Ended December 31, 2009

VICTORIA, BRITISH COLUMBIA--(Marketwire - 03/24/10) - PRT Forest Regeneration Income Fund (TSX: PRT.UN - News ) (the "Fund") today announced results for its fourth quarter and year ended December 31, 2009. The Fund's annual financial report is enclosed as part of this release. For the year ended December 31, 2009, the Fund reported operating earnings of $2,555,000 and net losses of $1,829,000 ...

Question: Capital One Payoff Negotiation?

I have two Capital One credit cards with a total debt of $1128.48. I need to purchase a car soon and have to get my debt paid down very quickly to so. How do I ask for a payoff when I speak to a Capital One rep – can I ask anyone who is a Customer Rep, or should I speak to someone specifically? Also, is it true that 1099’s only apply if the amount you save is over $600?
(Before you comment, paying off my current debt is more important to my car loan lender than my credit score)
Thanks, L
I am behind, paying a small amount biweekly.

Answer: The balance shown on your credit card statement IS your payoff effective as of the billing date of the statement. You'll have to pay a few extra bucks of interest that accrues from the billing date to the date they post your last payment. You'll see that upon receipt of your next statement.

Dog Heaven $10.19 In Newbery Medalist Cynthia Rylant's classic bestseller, the author comforts readers young and old who have lost a dog. Recommended highly by pet lovers around the world, Dog Heaven not only comforts but also brings a tear to anyone who is devoted to a pet. From expansive fields where dogs can run and run to delicious biscuits no dog can resist, Rylant paints a warm and affectionate picture of the...

Please Understand Me: Character and Temperament Types $5.80 Does your spouse's need to alphabetically organize books on the shelves puzzle you? Do your boss's tsunami-like moods leave you exasperated? Do your child's constant questions make you batty? If you've ever wanted to change your mate, your coworkers, or a family member, then "Put down your chisel," advise David Keirsey and Marilyn Bates in this book of personality types. We are different for...

Asheville area readers speak out on health care reform bill

The Citizen-Times asked readers Monday for their opinions on the health care reform bill that passed the U.S. House. In less than a day, we received more than 150 e-mails from supporters and opponents of reform.

Taxes on Short Sale, Loan Modification & Mortgage Foreclosure 6 Nov08 Recourse vs Non-Recourse