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 IRS still hasn't processed my 1040X yet?!?
I submitted my 1040X on April 5th. Delivery Confirmation said it was delivered on April 8th. I paid the taxes I owed the next day online.

My tax preparer said it's taking so long ...


 Do I have to tell the IRS when I receive e-mail saying I won something, even if I think it is a scam?
I often return e-mails saying that I have won things, such as foreign lotteries. Most of these are obviously scams.

The IRS says that I must report anything I won and may be required to ...


 Is the 'Make Work Pay' tax credit apart of the $8000 tax credit or separate?
I just purchased a home May 2010 for $220K. I'm single and filed my taxes in Feb and received a small refund. I'm in the process of filling out the 1040x form but whenever I get to the ...


 Notice of assessment?
I lost my notice of assessment letter. Is it possible to get one from a CRA office?...


 If I filed a K-1 Form with a loss, why does my tax software tell me that I still owe taxes?
I DJ, so I file a 1099-MISC every year.

This year, my net profit was $6914, and the calculated taxes I owe came out to $-579.

I also participated in an S-Corporation in which I ...


 I have an unemployment questions for the state of Kentucky. I am getting laid off from my job?
from my job at the end of July. That is certain. My question(s) are...if the company that is coming in and taking over offers me a job, do I have to take it? Or can i still file my unemployment ...


 How much money is taken out of paychecks from taxes in Rhode Island?
If you make $7.40 an hour.
Additional Details
im 16 years ...


 May i know from someone what are the timings os Stock Market?
...


 I need help filling out form 982 for tax year 2008. I am insolvent by $12,000 and received a 1099-c for $2,503?
I don't understand what I need to put in Part II. PLease please ...


 I just opened my business and received a EFTPS form which gives me the pin number to activiate?
the EFTPS. This is the federal tax payment syatem. Do all business owners HAVE to do it??...


 what is the tax at best buy?
like, im saving 50 dollars to buy a camera at best buy, which is 50 dollars. but i know thats not the exact price. the tax is included. so how much percent of the price do they add?

...


 How to pay taxes on Stock.?
How do you pay taxes on stock? And when? I'll just give you my particular example. I have recently bought 100 shares in a company on an online brokerage. I plan to reinvest the stocks dividend ...


 Is it possible to have the IRS delete a form that you filed this year?
I filed Form 2555-EZ (Foreign Income Exclusion form) with my 1040 this year.

I now want the IRS to delete Form 2555-EZ. Is this possible for the IRS to remove? (I will, of course, file an ...


 Can you deduct all college costs?
Can you wite off the entire tuition that was paid out over the course of the year? I thought I remembered when doing her taxes that they capped it at 4k and then with some sort of formula it ended ...


 Err.. Am I eligible for unemployment?
Okay so I took a private in home care job in February. I've just been being paid in personal checks however, not under the table as I and my employer obviously will declare the wages. I don'...


 Income support/carers allowance?
what will happen with the new budget 2010?...


 Canada income tax. Tradesperson tool allowance.?
can my tool receipts from 2009 be used on my 2010 tax return?...


 What does "Your initial claim has been processed. Please file your biweekly claims as instructed" mean?
I filed for unemployment three weeks ago. As I checked on the status of my claim online, I didnt get any reply on status. Then that came up. Does that mean I am approved?...


 Tax free allowances 2010/11,are they putting it up this year cos it don't look like it?
It was £6,475.00 for 2009/10 and on the government site still's the same for 2010/11...........is this correct......something else the government keeps quiet about so we actually pay more taxes?...


 inheritance question?
If an individual is the beneficiary of stocks totaling 460,000 will s/he have to pay taxes (either inheritance or estate) upon receipt of the money after the family member dies?
thanks!
A...



Marcene C
We got a license for a small business but that is as far as we got. Do we owe taxes?
We renewed the license for a couple of years, but nothing has been done or nothing materialized. Do we need to file a tax return on this small business if there has been nothing done but to revew the license?
                     
 




tro
Rating
you file Sch C and anything related to the business
once you open the doors and ready for business you are viable business
the expenses you incurred prior to open would be amortized over 5 yrs(except a special allowance up to $5000) and any expenses you incurred when the business opened, the license would be a legitimate expense


Gerardo D, EA
Rating
Business license is a city tax. it is an expense for schedule C. Be careful with Sch C because if you do NOT make a profit 2 out 5 yrs, the IRS might think you have a hobby.


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