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As a small business owner, why does it cost me more in taxes for my employees than it does for salaries?

Wed, 31 Oct 2012 15:39:57 +0000

Question by ladyl54: As a small business owner, why does it cost me more in taxes for my employees than it does for salaries?
Due to this situation, expansion of our business to a profitable level is next to impossible. The tax man gets all the money while we do all the work. We’d really like to keep a few more dollars so we could hire more employees and enjoy.

Best answer:

Answer by Wayne Z
It doesn’t.

You are greatly mistaken.

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I run a small business, can I deduct the cost of a recently purchased house on my taxes?

Thu, 22 Dec 2011 21:22:43 +0000

Question by jeepsusa82: I run a small business, can I deduct the cost of a recently purchased house on my taxes?
Last semester I took a real estate class at the local college and the teacher discussed some people buying real estate as an investment and for a tax deduction. I run a small business unrelated to real estate but recently purchased a $ 40K home as a project/fixer-upper. I am unsure whether I will live in it after it is done or sell it. I currently live with my parents. Both the home and I are in Illinois and I paid cash for the house.

Best answer:

Answer by reggae superstar
There are a ton of deductions you can use from an investment property. All of the improvements and closing costs for example. There are also many more deductions available to the small business owner. See a reputable tax preparer and they will be well worth the expense.

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How much on average does it cost to have your small business (7 employees) taxes done?

Thu, 29 Sep 2011 01:08:32 +0000

Question by lindsay_kinzie: How much on average does it cost to have your small business (7 employees) taxes done?
We are trying to find a place to do our taxes for our business and I have no clue what is even a good price. Is it in the thousands, hundreds, or what?

Best answer:

Answer by spicertax
Probably $ 500 and up. Get an estimate from a CPA before hiring him.

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Q&A: what is the average cost for having a small business taxes prepared?

Sun, 05 Jun 2011 19:16:17 +0000

Question by Deanna C: what is the average cost for having a small business taxes prepared?
Small business 6 employees, L.L.C. wondering what the average cost of having my small business taxes prepared by a professional would be

Best answer:

Answer by tro
6 employees? you have someone in house do the payroll and all or is this part of what you need done?
how are you operating, a corp, a partnership or sole proprietor?
the corp is a 1120, the partnership is 1065 and the relevant state tax forms, sole proprietor is easiest, Sch C with a 1040
plan on plenty

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