The Tax Questions Blog

Posts Tagged ‘tax’

Question: how long are we required to keep receipts etc for business tax purposes?

Tired of boxes of receipts ect. how long does the irs require
me to keep my business records?

Answer: If you never filed, there is no time limit on that year. IRS has 3 years to audit you from the date the return is filed in a civil matter. If it is filed late, 3 years from the date filed.

For the Criminal Investigation Division it is longer. Very rarely does IRS CID become involved with regular folks. They stick to drug dealers, fraudsters, and tax protest kooks.

I'd say 4 years is plenty safe on filed returns, but 7 if you are a real worry wart.

100 Days, 100 Nights $9.65 All products are BRAND NEW and factory sealed. Fast shipping and 100% Satisfaction Guaranteed....

Ooma Core VoIP Phone System $249.99 In a volatile economy, there's one utility you can save with the aid of VOIP technology - your phone service costs. Smart and stylish, the ooma Hub and ooma Scout partner with your high-speed Internet and your existing home phones to deliver free home phone service. Your one-time purchase eliminates monthly bills for U.S. calling and delivers extremely low rates for international calls. Your one-t...

ooma Hub - VoIP Phone Device with No Monthly Phone Service Bills $399.95 The spring-loaded dock flexes to accommodate all dockable iPod models; compatible with iPod classic (3G, 4G, 5G, 5.5G, 6G), iPod touch (1G, 2G), iPod nano (1G, 2G, 3G, 4G), iPhone (1G, 3G), and iPod mini...

Help with Tax Bill - Business Link

Question: What should be the take home pay per month on an £18000 & £12000 salary for the tax code 502L + NI deductions?

5* to anyone who can give a breakdown of the pay aswell, thanks

Answer: Try the website below:

From what you've give, a £18k + £12k annual income (I assume that this is for one person with 2 jobs, totalling £30k?) would give you a monthly take home pay of £1,834.77 a month:

£2,500 gross, of which £418.33 tax free and £2,081.67 taxable.

£436.47 tax paid, £228.76 NI paid, totalling £665.23 total deductions.

The Legacy Of Prop 13

Question: How do you apply online for an IRS job when I have a degree in arts and social work?

I am trying to applyonline for an IRS position. I heard from a friend of a friend that IRS was hiring degreed applicants for customer service positions. I am having trouble finding the site. Thanks

Answer: http://www.jobs.irs.gov/home.html

How to Apply

http://www.jobs.irs.gov/apply.html

Bailed-Out General Electrics - Generating $14 Billions in Profits, Paying $0 in Taxes

Question: Why does zappos charge no sales tax for the same item as Sunglass hut?

when i try to check out at sunglass hut it charges sales tax, and at zappos it doesn't for the same pair of glasses... why is this?

and on zappos in small print it even says "we only charge sales tax for ky, nv, ... and a few other states... how can they do this?

Answer: Online stores must charge sales tax if they have any sort of a facility in the area in which you live. They must do that. It's the law.

Apple iPad MC705LL/A (16GB, Wi-Fi, Black) NEWEST MODEL $499.00 Pick up the iPad and suddenly, it's clear. You're actually touching your photos, reading a book, playing the piano. Nothing comes between you and what you love. To make that hands-on experience even better, they made the fundamental elements of iPad better - the display, the camera, the wireless connection. All of which makes the third-generation iPad capable of so much more than you ever imagined...

Sage Peachtree Complete Accounting 2011 [OLD VERSION] $19.99 Sage Peachtree Complete Accounting 2011 helps you work more easily and efficiently with robust core accounting and added features like job costing time and billing in-depth inventory capabilities and analysis tools. Its multi-user option* helps improve productivity while providing screen-level security and a clear audit trail. Save time with simplified dashboards management centers integration wit...

Apple MacBook Pro MC721LL/A 15.4-Inch Laptop (OLD VERSION) $1,599.00 Introducing the new 15.4-inch MacBook Pro. The state-of-the-art quad-core Intel i7 processor delivers up to 2x faster performance (over the previous generation of MacBook Pro). New Thunderbolt technology lets you connect high-performance peripherals and high-resolution displays to a single port, and transfer files at lightning speeds. And with the new built-in FaceTime HD camera, you can make ast...

Why Amazon is winning online retail and should fold on this silly sales tax fight

Rather than fighting it out on a state-by-state basis, Amazon needs to man-up and do what’s right. Our IT jobs are at stake.

Finding Sales Tax

Question: Taxes or Bankruptcy first.?

I am broke, unemployed, and have not payed taxes for years. I have been using a Sub-chapter-S corporation to receive money for IT services since about 2005. I am currently enrolled in college so that I can maybe get my life on track. I receive 5-10 collection notices a week and have been ducking the repo guy on my car for over a year now.

Things just got bad, then worse, now nightmare. If I have any hope of emerging from college with a fresh start, what do I do? Bankruptcy costs money, tax attorneys cost money. I dont even have copies of the bank records and switch banks so often I dont even know who to call to get those records. I also heard that if I go through bankruptcy I will no longer be able to get any money for college.

Who do I call first? Or do I just fake my own death, seriously, its that bad.

Answer: Turn the car in:
The bankruptcy court has a payment plan that you can pay for filing bankruptcy within 90 days of your case. File all tax returns as soon as possible to avoid further penalties. File the bankruptcy yourself. The forms are available online and file your own tax returns. The Subchapter S corporation income is a pass through entity income that is reported on your regular tax return. Go to www.taxact.com and prepare your own tax return. You should also prepare an 1120-S for the subchapter S corporation. I would personally switch over to an LLC rather than a Subchapter S. But that is your funeral.

The Two-Income Trap: Why Middle-Class Parents are Going Broke $6.12 Book Description Publication Date: August 17, 2004 In this revolutionary exposé, Harvard Law School bankruptcy expert Elizabeth Warren and financial consultant Amelia Tyagi show that today's middle-class parents are increasingly trapped by financial meltdowns. Astonishingly, sending mothers to work has made families more vulnerable to financial disaster than ever before. Today's two-income family...

Distress Investing: Principles and Technique (Wiley Finance) $36.80 Praise for Distress Investing"Marty Whitman has distilled decades of distressed investing experience into a text that is a must-read for everyone interested in the field, whether a student or a professional investor."—Wilbur L. Ross, Chairman and CEO, WL Ross & Co. LLC"Distress Investing: Principles and Technique represents a detailed and unique perspective on an arcane arena of investment th...

Public Dollars, Private Stadiums: The Battle over Building Sports Stadiums $17.00 "This revealing, dead-on investigation of the modern-day sports stadium boondoggle, and its often-devastating impact on American cities, is an essential read for anyone, sports fan or not, who wants to avoid getting fleeced."-Steve Lopez, Los Angeles Times columnist and former columnist for The Philadelphia Inquirer and Time magazine "Public Dollars, Private Stadiums helps us understand the pol...

Makers, Takers And Wealth Transfer In The Modern Welfare State

Democratic politics is a sordid, mob-driven business.  The great mass of mankind is neither smart nor dumb, good nor bad, but subject to influence.  When it thinks it can vote itself someone else’s money, it rushes to the ballot box as though to an overturned beer truck.Over the century and a half since the invention of modern, social welfare democracy, politicians have learned how to game the ...

Minnesota Divorce Lawyer,Attorney Legal Services,Lawyers Personal Injury,Criminal Defense Attorneys,Counsel,Mediator,Counselor,Power of Attorney,Immigration,Bankruptcy,Tax Law Office,Notary,Notaire,Attorney General,Medical Malpractice,Brain Injury