About Taxes

If you're a sole proprietor, here's the lowdown on three small business tax deductions you can report on Schedule C. They all start with the letter "A". 1. Accountants. The fees you pay your accountant are generally tax-deductible on Schedule C, provided the fees are for services rendered on behalf of your business. So, if you pay an accountant to prepare your income tax return, that tax prep fee is deductible to the extent it applies to the forms required for your sole proprietorship, such as ...
Read the rest of this entry »

Starting a Business - (2 - 3) When we last met, I went over some of the need for licenses and permits, as well as how to locate which one are right for you. You may already have a plan and the form of your business entity set and if you do great, if not, I'd like to share a few things with you. Form of Entity? All offer advantageous to you when you start a business, however there are disadvantageous too. - Sole proprietorships are the most simple for a business owner. A sole proprietor does not ...
Read the rest of this entry »

Well, here we go again. It's that time of year - the time when your taxes are due. If this is your first time filing a tax return, or even if you're an old pro at it, you may want to consider using the e-tax option for this year. E-tax is an electronic lodgement system that is available through the Australian Taxation Office website http://www.ato.gov.au. The e-tax system is very easy to use and be downloaded simply by visiting the site. This user-friendly program has numerous benefits that ...
Read the rest of this entry »

Something about tax and its tradition Tax is termed as that part of income which an earner has to pay as a part of his liability towards the Government. The payable amount is decided by the Govt. depending upon the income earned. This is calculated annually and at the end of a financial year the return is filed. The tradition of tax payment is very old. Earlier it used to be some part of the total outcome a farmer got of his field. But as soon as money got introduced, it the ...
Read the rest of this entry »

Real estate taxes Similar to state income taxes, for Regular Tax purposes you are allowed a deduction for property taxes that you pay.  Under the AMT, however, you are allowed no deduction for property taxes.  This problem affects 94 percent of all folks stuck in the Alternative Minimum Tax, so it is something that you definitely need to look at.  This also represents one of the easiest AMT planning opportunities. Property tax assessment and billing cycles vary among the states, but the ...
Read the rest of this entry »

Many small businesses tend to procrastinate when it comes to filing for taxes. They behave in this manner for many different reasons. Some are uncomfortable in this unfamiliar territory, so they keep putting it off. Others, caught up in the daily operational issues of running a business, simply can't find the time to sit down to tackle the tax issue. But filing for taxes is no small matter. It is required by law, and there is a dateline for filing taxes. Therefore, small business owners should ...
Read the rest of this entry »

Why are there so many people due an income tax refund?Some folks say that it is simply because the Government wish to hold on to taxpayers hard earned money as long as they can. I doubt that, I think it is simply that they are not geared up enough to be able to correctly assess the tax in the first place and then again it just takes them far to long to generate a repayment.I rang the paye tax help line recently and the recorded introductory message advises that refunds are taking ...
Read the rest of this entry »

In the initial two parts of this article I talked about some of the steps necessary in starting a business; Licenses and Permits and the Form of Business Entity. I would like to conclude this article with a mention of the Accounting and Taxation needs of your business. Accounting / Bookkeeping The business entity concept provides that the accounting for a business or organization be kept separate from the personal affairs of its owner, or from any other business or organization. This means that ...
Read the rest of this entry »

Those of you who are new to the real estate development business, need to understand what each Design professional contributes to the development team and the specific services they are capable of delivering for you. Knowing what they do for you ... what you are paying for is vital. This is part of a series of articles I am writing for you to explain what each profession does in some detail. So far I have covered: . The Architect and Real Estate Development . The Structural Engineer and Real ...
Read the rest of this entry »

Terms of its extensive whistling face of global financial tsunami, the Chinese government decided to swim out of prudent and flexible "freestyle." To raise export tax rebate rate to stimulate exports, is the "mid-stream splashing into the water" and struggling to a plan. The Ministry of Commerce and various trade associations and was informed that a category contains more than exports, and tax items of export tax rebate adjustment proposal, submitted by the Ministry of ...
Read the rest of this entry »