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Archive for the 'United States' Category

If I have a small home-based business and I have not filed any taxes in 3 years, what are the penalties?

Saturday, December 19th, 2009

moopoo55 asked: Let’s say that I’ve calculated most of the 2003 year and have concluded that I didn’t owe any taxes for 2003 and 2004 but instead am due a refund.
I’m working to get a good accountant but find that most don’t know about tax shelters, estates, or any of the small business [...]

Ending a home based business – what are the tax implications?

Monday, November 16th, 2009

Eric M asked: I’ve been writing off my home based business for the last few years. If I stop using that portion of my home solely for my business, how do I indicate that on my taxes?
Additionally, does anyone know of any resources that indicate what the implications are of stopping a home based business [...]

W4 for two jobs and home based business?

Thursday, February 26th, 2009

Mexempt asked: I have a home based business and two full time jobs. Someone told me I should claim 9 exemptions on my W4’s for my jobs, because I have a business. Is this legal? If so what kind of exemptions could I claim?Do you like Tattoo’s ?

Can i take deductions for a home based business beyond the revenue i brought in?

Monday, February 16th, 2009

mwright555 asked: I under withheld in my regular full time job and owe alot in taxes…i have a part time home based business that i spent alot more on than i made, can i use deductions to offset the revenue as well as lower my gross income from my regular job? I read u can [...]

Home-based Business. What if I have next to nothing coming in for how much I am deducting in taxes?

Saturday, January 17th, 2009

rothchristian asked: I am looking into setting up a home based Business as a part time thing. I have a day job and I would like to do this music endeavor on the side. I want this to be legitimate but I know I will be making very little money and writing off a [...]

Home based business for someone with tax background?

Sunday, January 11th, 2009

Ann N asked: I have an accounting degree, specifically in taxes and looking for a home based business that fits my back ground. Any ideas?Image Host