Today Irina from the Internet is concerned. “My husband is self-employed and he hasn’t had any deductions taken out of his checks since the time he started his business.https://www.seehowcan.com/wp-content/languages/new/math-homework-help.html He claims that after he writes off his business expenses, he’ll get more than he owes. On top of that, he is telling me to claim […]
Category Archives: Business Expenses
Today Connie from New York asks, What does “Pass Through Tax” mean? Since TaxMama has never heard that expression, she will explain “Pass-Through Income (or Loss)” or “Pass-Through Entity”.https://www.grapplearts.com/wp-content/languages/new/best-rated-resume-writing-services.html
Today Dede from Michigan tells us. “I am a newly licensed family home day care provider. I am overwhelmed by this tax business! Where in the world do I begin? I haven’t paid any taxes from my earnings yet, because I just don’t know how to begin or whom to contact about what forms or […]
Today Alan from Texas says he is starting a partnership as a consulting business.buy valtrex online gilbertroaddental.com/wp-content/languages/new/generic/valtrex.html no prescription He asks, “I understand that estimated taxes will be made on the income that the business makes, but do I also have to pay personal tax on the salary that I pay myself from that income […]
Today Mark in Mississippi is still reeling.https://libertyjuice.com/wp-content/languages/new/bactroban.html Here’s why – The other day, I dropped twenty bucks into a 50-cent slot machine and I won $326,000.00! I suspect that over half will be taken for state and federal taxes. As a farmer, can I offset the taxes due by adding to my farming operation (i.purchase […]
Today Nick from Columbus, Georgia asks, “I live in Columbus, GA and work in Atlanta, GA. Since I work about 200 miles away from my residence, my company gives me a per diem. My question is, even though I get a per diem, can I claim my expenses as business expenses while I am in […]
Today Sherrie from Mc Minnville, OR asks, “As an author, tell me, what is the definition of “published”? Do newsletters or other publications besides books count? Do I have to have earned a certain amount of money with publications? Can I only take the write-offs if I have naturally purple hair and be born to […]
Today Julie from Mountain View, CA says, “I’m just launching a new business. After talking to an attorney, I decided I wanted to be an S-corp. I incorporated on May 12, 2005. When I read the instructions for Form 2553 (Election by a Small Business Corporation), it stated that unless I filed for an S-corp. […]