 How do we get our income under $250k ? |
Is the question being asked by millions of small business owners.
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maybe if I just let one employee go?... |
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 Tax Return: Single woman, no dependents. Will I get a tax refund? |
| I know this is probably a complicated formula, but if someone could give me a general idea, I'd be grateful. In 2006 I made (gross) $18,424. I paid 1,648 in federal taxes. I'm single, no ... |
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 Should tax on gas be higher in the US? |
Please could you also say why you think yes or no. And if yes, what should the extra tax revenue be spent on, or which taxes should be cut to make up for it. thanks
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US ... |
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 I don't have taxable income, but i have a mortgage, how do i get a refund on the interest i pay i'm a d.a.v. |
| i'm a disabled veteran and on social security, can i file taxes on non taxable income and get a refund on interest i pay on my mortgage?... |
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 Who qualifies for a stimulus act 2008 refund? |
is there a certain age group, income amnt limit and / or minimum, that you have to be in to get it and when are they starting to send the checks?
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is there a certain ... |
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 Economic stimulus payments? |
| My last two numbers are 03 and I still haven't revceived my payment. Has anyone else?... |
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 Resident of Canada - 2006 Fiscal year Tax Return question. I din't file my 2005 Tax Return? Penalties? |
| I was travelling through Asia during 2005 and failed to file my Tax Return with Revenue Canada. I had no income for 2005. In 2006 I came home and started working, so now I am looking to file my 2006 T... |
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 Do self-employed odd-jobbers have to pay taxes? |
| Say you were a dog-walker or solo interior decorator, paid in cash by your clients. How would you go about finding out if and how the IRS expects to be paid?... |
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 Tax rebate??? |
| If you file with Turbo tax and have the refund put in your checking account will you be issued a check for the rebate or direct deposited? Turbo tax has it deposited in their account then they take ... |
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 Really need some advice on Capital Gains Tax on the sale of a second property, can you help?? |
| Before I married my wife she lived in her own little house that she brought fora humble £97000 in 2001. She moved in with me in 2003 but didn't want to sell the house incase things didn't ... |
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 Where is my stimulus check- used direct deposit ssn# 92 and nothing yet. i should of received it by may!? |
| im wondering if im the only one whos stimulus check is wayyyyy behind! its june 30th and I have not yet received it, I filed early and used direct deposit- the scheduled payment should of been ... |
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 What is your opinion of raising taxes on ........? |
what do you think about raising taxes on cigaretts, alcohol, and luxury items? are you pro or con and why?
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you keep mentioning sin taxes
what do you mean?... |
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*♥Mrs. Morrow♥* | Do I need a Tax ID number? I'm SELF EMPLOYED, HELP!!!? |
I'm starting my web design business, but don't know how to get a tax id number or what forms to fill out or anything. I am the only person working, no employees or anything, just me! Does that effect how I need to file or whatever? I have no idea what to do.
I build web pages for individuals and small businesses.
Please someone tell me what I need to do. |
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rdp
 |
As a sole proprietor you only need a federal ID number if you have employees or need to file an excise tax return. There are other "odd" times that require you to have a federal number... but they are very infrequent. You can follow this link to the IRS to see if any of them apply http://www.irs.gov/businesses/small/article/0,,id=97872,00.html
As has been mentioned, your social security number is your federal id number if you are a sole proprietor with no employees.
You need to keep good record of your income and expenses. Again, if you are a sole proprietor you will report these on Schedule C when you file your personal income tax. If you are making a lot of money, you might also consider seeing a tax professional to help you prepare estimated taxes. Paying estimated taxes may avoid penalties for underpayment of taxes due to the increased revenue. |
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SmartAleck
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you use your social security number. that is your tax id. also, go find a CPA. it is well worth the money to have them handle your taxes for you, and they can advise you on these types of questions, and they will also tell you if you should LLC and help you get liability insurance (which you need!). |
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STEVEN F
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You have a tax ID number. It is also know as a Social Security number. If you hire employees at a later date, you will need an Employer Identification number. |
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Judy1
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You'd use your social security number as your tax id.
Keep very good records of your income, and any associated expenses. It would be a good idea to have a CPA prepare your taxes for the first year, so yu can see how it's done. You'll report your income and associated expenses on a schedule C, then fill out a schedule SE to calculate your self-employment tax (social security and medicare). The numbers from the bottom of these schedules will transfer to a form 1040 to calculate your income tax.
You should file a form 1040ES quarterly, and send in the estimated taxes on the income you earned that quarter. |
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Peter H
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Is your business a sole propriety? or a LLC or C-Corp .
If it is a Sole Propriety, then your ssn will be your fed tax id number. One of the others, I think you will need EIN number.
If you are talking about sales tax, contact your department of revenue. |
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jargent100
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You need a federal EIN. You can apply for one online at the link below.
You may also need a state version of the EIN, but the federal one comes first.
Other than that, there's very little else you need, though you should probably talk to an accountant or a lawyer too. |
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WeLoan.Us
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to open up a corporation that is how you get a tax id #...depending on what state you are in there are different websites.I would just type in open a corp. on yahoo search |
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robert w
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visit IRS.gov web site
do get a tax number for your 'biz' so you don't have your SS # all over the web.
get ID theft insurance also. |
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