7 Keys to Deducting it All » anyone

Q&A: Does anyone know how to file taxes when working 1 part-time job and also owning a small business?

Sat, 14 Apr 2012 12:54:37 +0000

Question by : Does anyone know how to file taxes when working 1 part-time job and also owning a small business? Filing taxes doing one or the other isn’t that complicated, but how would you file taxes when you have … Continue reading →

Can anyone tell me about paying taxes on a small business, forms to file, and how to obtain a tax table?

Fri, 23 Mar 2012 03:03:19 +0000

Question by tbone: Can anyone tell me about paying taxes on a small business, forms to file, and how to obtain a tax table?

Best answer:

Answer by wartz
A better idea than coming here to find out what forms you need: If you don’t already know, you should call a bookkeeping service immediately and let it help you with the books. Many people start businesses because they know how to do the work but not how to run the office. They end up in bankruptcy very quickly. Avoid being one of them.

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Q&A: Would anyone here know the average business small business total tax bill as a percent of revenue?

Thu, 16 Feb 2012 21:58:46 +0000

Question by Purge DC!: Would anyone here know the average business small business total tax bill as a percent of revenue?
Would anyone here to know a rough ballpark figure for the total tax bill for an average small business if you considered all taxes the business has to pay as a percent of revenue?

Would you know what that percentage would be if you included income taxes employees paid?

Best answer:

Answer by Susie T
I only know that corporate income tax rates are up to 35%, which Republicans are always complaining about; but the ACTUAL rate paid is about 11% of income. This is from the 1040 tax booklet the IRS sends out each year. The amount paid by corporations has consistently gone down over the years, and the amount paid by individuals has gone up.

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has anyone started a small business to avoid taxes on other income?

Mon, 08 Aug 2011 19:41:50 +0000

Question by jojo: has anyone started a small business to avoid taxes on other income?
just wondering if anyone has started a small business just to get the deductions. i was hit hard by the tax man last year and i would consider myself lower-middle class! i was thinking of starting AVON or something so that i could have some deductions for next year. thanks

Best answer:

Answer by v b
Your goal is what again?

You want to start a small business to get tax deductions? You do realize, of course, that the small business must make money or the IRS will reclassify it as a hobby and then limit the deductions to the income it brings in….

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Does anyone know how much H&R block will charge to file taxes for a VER SMALL business? Does anyone file?

Mon, 25 Jul 2011 09:57:25 +0000

Question by EvelynR: Does anyone know how much H&R block will charge to file taxes for a VER SMALL business? Does anyone file?
their own business taxes? What do you do?

Best answer:

Answer by numbercruncher
If you have a business, then you need a CPA.

I know it seems scary that they might be expensive, but they probably charge as much or less than H&R Block.

The side benefit is that you then get a good advisor for yuor business and personal decision making. H&R Block will complete the forms, but you really need to plan (failing to plan is planning to fail).

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Q&A: why would anyone listen to a democrat about small business taxes and benefits?

Tue, 12 Jul 2011 14:36:49 +0000

Question by elephant man: why would anyone listen to a democrat about small business taxes and benefits?

republicans are the oens who often were former business owners or worked i nthe private sector…and instead you are goign to listen to a bunch of lawyers….who are trained in manipulating anythign?????
pardon the typos..before someone crucifies me for it

Best answer:

Answer by Myragor
Because nearly anyone even a democrat has more knowledge of the subject than yourself.

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