The Small Business Wiz » United States

what are common overlooked tax deductions on a home business?

Small Business Dude — Sun, 15 Feb 2009 02:49:03 +0000

If you have an independent business from home what are the tax deductions you can receive?

Effie

Can I claim expenses on my taxes on a home business that is not a licensed business?

Small Business Dude — Fri, 13 Feb 2009 00:30:07 +0000

I started a home based photography business this year but I have not filed any paperwork, such as DBA, LLC or sole proprietor. Can I still claim income and expenses on my taxes?

Sherron

how to file taxes for a Home business with a loss?

Small Business Dude — Thu, 12 Feb 2009 00:33:28 +0000

I have a small home business that I had a loss on this year. It is my first year having a business and was wondering if i could just file a 1040 ez since I had a loss.

Tasia

Is Turbo Tax Home and Business worth the extra money for me?

Small Business Dude — Sun, 18 Jan 2009 18:04:27 +0000

I have my own business (sole proprietor). It generates less than $10k per year and has no employees. I utilize deductions for home office, vehicle expenses and general office product expenses but that is about it. Is it worth buying the Turbo Tax Home Business or can I get away with buying the Deluxe version?

Lisabeth

Can I deduct phone bills when I have home business?

Small Business Dude — Fri, 16 Jan 2009 00:07:07 +0000

I am planning to home phone line for my home but I have home based business. Can I still deduct part of my business phone calls? I am a sole proprietor but what if I incorporate as S corporation? Can I still deduct my part of my home phones for business use?

Doris

Which is the best tax program if you ran a failed home business this year?

Small Business Dude — Wed, 07 Jan 2009 15:38:14 +0000

I have to declare a loss for the home business, but have all my receipts and stuff for the business. Which is the most comprehensive program that will help me the most? THanks in advance!

Sharmaine

How do I report a small business that doesn’t tax to the IRS?

Small Business Dude — Sun, 28 Dec 2008 05:57:43 +0000

There is this small business near my house that pays their employees under the table less than minimum wage. My brother worked there and he got injured on the job. They REFUSED TO PAY for anything, but it was their faulty ladder that gave out. After that, I threatened to sue, and they let him go. PLEASE HELP!

Laurette

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

Small Business Dude — Wed, 17 Dec 2008 18:25:33 +0000

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 (home based) irs laws.

Please, this is serious. Don’t respond if you don’t have a quality answer for me.

Emmaline

What is a good book on small business taxes?

Small Business Dude — Fri, 12 Dec 2008 19:00:30 +0000

I am looking for advice on how to best work my deductions and tax advantages as a small business owner.

Maryln

How do I file taxes for a small business I started this year?

Small Business Dude — Thu, 11 Dec 2008 16:05:23 +0000

I have a small business set up as a general partnership and we have 2 employees. We are not using any kind of 3rd party administrator for payroll or tax reporting services. We are just keeping tight records of our income, business expenses and payroll. Can we file taxes for this busines at the end of the year along with our personal filings or should we be doing something different? Also, we have not been withholding any taxes from our employees payroll as we plan to issue them a 1099 at year end. Does this sound ok?

Shawana