 Tax Question? |
| My divorce was final in March of 2006. Still legally married on Dec 31, 2005, my now ex-husband took it upon himself to file without me as head of household and claimed our son on his return. The ... |
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 Can my Boyfriend claim me on his taxes? |
me and my boyfriend have live with each other for year and he has supported me through my last year of college, he is the only one on the lease can he still claim me and my school on his taxes
A... |
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 Should my wife and I file separately or jointly for 2008? |
| I made approximately 200K. She made approximatley 10K. We have two dependents. I am self-employed. She is a pre-school teacher.... |
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 I made around $2,000+ working, could I file for taxes? |
I worked since August 2008 and I generated $2,000+ and I was wondering if I could file for taxes.
Also I worked from 06-07 at a company and I can't remember what my gross was but I ... |
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 How to have my ex's back child support taken from his federal taxes in Ohio? |
| It's my ex's year to claim our son on his taxes. Hes several thousands of dollars behind on child support. Has been for several years now. I know that anything more than $500 behind, and ... |
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 How can I deduct medical expenses from my taxes? |
| I only made $3,600 dollars last year. I have $1,200 in medical bills (no insurance). So, is there some way I can get this money reimbursed? I had someone tell me to take the standard deduction (5,450)... |
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 Do I have to report my rent / utilities payments to IRS? |
| This year I'll be filing for the very first time a form 1099. Can I get so type of deduction for my rent payments that I made?... |
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 Can i get a tax return for driveing to work in the uk? |
| I have been told that i can get a tax return off the inland revenue in the U.K for driveing to work. My company pay me traveling allowance and i get tax free additions I have been told that I can ... |
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 Child care provider passed away? |
| Ok, so the woman caring for my children in 2008 passed away last summer, I paid about 3200 for the year for my 2 children, how am I going to claim this without her SS#, she did not have much family ... |
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 My father didn't file for income tax for fourteen years, now I have to take care of it. What do I do? |
| Way back in 1994 my father received a letter from the IRS. " "You may no longer have to file with the IRS " He evidently took this to mean he no longer needed to file his taxes each ... |
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 Can I file state and federal taxes without paying them right away? |
| I owe about 460 in taxes this year. 400 to federal and 60 to missouri. Can I file my taxes and wait to pay. if so what is the deadline to actually send in a check. Im hoping to catch a break and ... |
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 If you receive a prize from a tv show how much is taxed? |
| If you receive a prize from a tv show that is taxed along with airfare and lodging that totals about $2800 I know this is added to your income at the end of the year but how much is taxed on it state ... |
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 If i get paid 8 dollars an hour, then how much is taken out of that from taxes? |
Additional Details
i live in illinois and i am 16. does that help? i kind of want an exact ... |
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 Can my mom give me money, and write it off as a charitable contribution on her taxes? |
| I realize this question sounds stupid....but, I was told by a doctor's office that my Mom could give me money to pay for a surgery, that I cannot afford ($12,500, actually) and she would be able ... |
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 Can i claim my parents as my dependents? |
since they don't work, do they need to file any tax forms?
they are living with me and have no income, can i claim them?
in 2008, when they reach 62 and collect about 200-3... |
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sammyh3r3 | I started a business and now want to know the tax consequences? |
Do I file a separate tax return for the business? It’s a sole proprietorship.
Can I deduct startup costs?
Any more tax advice would be helpful. |
 |
 
SuzeY
|
You do need to file a separate schedule (Schedule C) that needs to be attached to your personal Form 1040. That said, the advice about finding a CPA is a good idea. I am a cpa, and I wish clients would come to me before they start the business instead of after they've been open for a few months. There's a huge administrative burden as a company owner. For instance, have you filed any paperwork with the Secretary of State for a business name? Also, are you planning on paying employees? If yes, you need to get a federal tax id number. Are you going to be selling to the public? If so, you need a sales and use tax number. Does your state allow you to be set up as an LLC? It might be worth considering if your business is at a risk of being sued. See what I mean? This is complicated stuff, and the best advice you're going to get is from a cpa. Try to get a referral from a friend, your dentist, anyone who owns a business. Usually, most cpas won't charge you for the initial consultation. After that, you'll be paying a good buck, but an accountant can be your business's best friend.
Good luck with your new venture! |
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NW_iq_140
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The tax consequences are as follows: IRS Regulation 123.456.789. q: how muvch money do you have? Send it all to us.
Seriously; the better questions is: Is a sole proprietorship right for you. As a sole proprietor you pay as an individual. Business expenses are deductible. subject ot certain limitations.
You should check with either a lawyer or CPA, but consider operating as a LLC or SUBChapter S Corp. Each has its own pros and cons. |
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ajd1bmf
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www.irs.gov |
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Judy1
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If you were incorporated, you'd file a separate return for the business, since incorporation basically establishes the business as an entity separate from yourself.
Since you're sole proprietor, you'd file Schedule C as part of your tax return, with the business information.
You'd be wise to talk to a tax professional (a CPA, not H&R Block) to find out just what you need to do, and what you can deduct. Their advice will probably be well worth the cost.
Good luck. |
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cruelf82001
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Like everyone else I say get a good CPA mines 750 a year includes weekly accounting monthly profit and loss statements and tax returns at year end and quarterlys. You are also required to pay 15% self employement tax and stuff you would never think of. |
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fcas80
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Suggest you hire an accountant and get expert advice, whose expense you can deduct from taxable income. |
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Scott K
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A sole proprietorship's income and expenses are presented on the IRS Form 1040, Schedule C. Start-up costs are not deductible. If I were you I would invest in some quality time with a local CPA, who can help you minimize your taxes. |
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the_closer11
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Seek a tax advisor. |
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ML
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Sole proprietorships are filed on your personal tax return. You can deduct certain start-up costs, but must depreciate capital items. Best advice I can give you is to find a good CPA - mine saved me a bundle. |
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