Posted on June 4, 2009 by admin
crm_dvd9 asked: If a U.S. corporation has business income in Canada, what gets reported on the tax return as far as income on schedule 1, line 1? Is it total income (from U.S. and Canada) or is it just Canada income?
Continue ReadingPosted on June 1, 2009 by admin
CARGUI99 asked: Should I form a partnership, C corporation or S corporation ? Tax purpose, Tax advantages
Continue ReadingPosted on May 21, 2009 by admin
dsert_fox asked: If you own an S Corporation in Nevada and you receive all the checks and payments in Nevada. Do still get taxed in California? Do you have to be a Nevada resident? Or do you just get taxed Federal, because you earned everything in Nevada and Nevada does not have a State Income [...]
Continue ReadingPosted on May 18, 2009 by admin
TSF asked: My wife and I are the sole owners of a S-Corporation that had no activity during 2007 except for like $10 in interest income. Do I need to file a tax return for 2007? If so what forms do I need to fill out? Thanks.
Continue ReadingPosted on May 16, 2009 by admin
cheetahalways17 asked: When I buy items on the internet for my business, I often do not pay the sales tax. What is the correct way to handle the use tax? Do I increase the purchase price by the state’s sale tax, deduct it, and then pay it to the state on my personal return? In [...]
Continue ReadingPosted on April 29, 2009 by admin
cheryann asked: I pay myself a salary each week from my weekly gross earnings and want to make sure that I am holding back enough to cover taxes. I am currently pay myself 2/3 of the gross each week and put the other 1/3 into an account for tax purposes. I am an independant clinical [...]
Continue ReadingPosted on April 27, 2009 by admin
gokesemail asked: As the sole proprietor my corporation is finally growing but I know I will owe enormous taxes if I dont take advantage of deductions available to S corporations. I would appreciate any suggestions. Thank you.
Continue ReadingPosted on April 9, 2009 by admin
depreciation asked: I have to prepair this for my tax class and I have some trouble with the calculations. for example line 13 asks for wages. I have been given the wages for the employees, but i looked at a project done by someone last semester and they have a different #, but not based [...]
Continue ReadingPosted on April 1, 2009 by admin
Mrs S asked: My husband started a small construction business (an S Corporation) with his father and cousin and the accountant said we need to wait to file our personal taxes until we get some paper back from the gov’t (from the businesses taxes). We’ve already gotten the W-2′s (they pay themselves hourly like they’re [...]
Continue ReadingPosted on March 24, 2009 by admin
Aimee B asked: I started a California S Corporation in May 2008. I am taking the automatic extension to September 2009. Since my S Corp was only a partial year, I didn’t have to pay the minimum tax of $800 for 2008. Do I have to send in the 2009 minimum by April 15, 2009? [...]
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