Money Snatchers

malhari h asked: Also if i have home loan also i am paying rent as i am living some where else is both can have benifit from income tax

Sizzle asked: I was offered a long term (3-5 years) contract position through an agency. I’m currently salary and the position is hourly only, so this is new for me. The agency who placed me, told me if I become an S-Corporation, my hourly rate will be $9/hr more since they will not [...]

Ms A asked: I plan on opening a business and not sure what to file under. I was told that certain corporation get tax breaks, if so which ones and how?

castlehillwizard asked: In view of the fact that EU countries, their residents and their corporations, are now investing a proportion of GDP to fight climate change whilst the World’s largest economy still fails to face up to the challenge would they not be justified in such a move?

rko99 asked: I’m starting a small business where I’ll be the single owner of an LLC with no employees. I’ve been trying to decide if it’s best to keep my LLC as a sole proprietor or fill out the forms so that I am considered a corporation. The government treats individual llc’s as a sole [...]

naturalway42 asked: A corporation makes $250K / year. Its expenses are $50K.
=> Net profit of 250 – 50 = $200K.
The corporation intends to buy real estate in future and needs to save money so if the corporation buys shares of other corporations (like yahoo, google, walmart) for $200K.
Does that mean the corporation nets to zero [...]

Gator125 asked: I started a S Corporation in 2006 and put in $900 to start the business. At the end of year my corporation showed a loss of $300. My questions are….
1. I will be filing a loss on my s corporation return (s-1120) of $300, which is fine. But can [...]

Erik K asked: I am a 100% owner and sole employee/principal of an S-Corporation that was converted from a C-Corporation on 1/1/2006.
For 2006, I have paid myself $32k in W-2 income and have made Owner Distributions (not W-2 payroll) of $49k. As of 12/31/06, there is approximately $20k remaining as Profit (and in cash) [...]