Open Tax Files
Question: How does a small business checking affect my tax filing if at all?
Hi, I have a small business, very small, I am a floral designer and event planner, I’m only doing about 8-15 weddings a year rite now, will grow in the future. I am DBA and have my tax ID number. I am hoping to open a new checking account to keep these funds apart from normal household funds, just to keep track.
If I open a small business account, does this affect how my taxes are filed? I live in Michigan if that helps.
Answer: the checking acct is irrelevant.Just make sure you claim all the income on a schedule C with your 1040
Five Best File Encryption Tools [Hive Five]
# hivefive File encryption is your best bet if you want to keep The Man, foreign spies, or your annoying roommates out of your files. Here’s a look at five of the most popular encryption tools Lifehacker readers use to lock down their files. More »
Mormon Genealogy & Family History
Divorce Tax Canada
Question: Can me and my partner file common law taxes even if i am not divorced from my previous relationship?in Canada?
I moved out of my still husband’s apartment in October 2006, i rented a new place with my friends, but decided to move in with my girlfriend in late February. We have been living together ever since. It is a conjugal relationship. My ex only a couple of months ago decided to sign the divorce application. I checked online and it seems after 90 days of living apart we are legally separated? So can i file taxes with my current partner? Help!!! we are already late to file them! Thank you.
Answer: For cdn tax purposes , check “Married” on your tax return if you had a spouse or “Living common-law” if you had a common-law partner. However, if you live with your partner since Feb 2007, you appear not to have been living with that partner for 12 continuous months (see condition “a” below), unless conditions “b” and “c” qualify) to qualify for a common law spouse as at december 31, 2007 that the 2007 tax return covers. The CRA website talks about this issue, as follows:
Spouse
A spouse is a person to whom you are legally married.Common-law partner
A common-law partner applies to a person who is not your spouse (see above), with whom you are living in a conjugal relationship, and to whom at least one of the following situations applies. He or she:a) has been living with you in a conjugal relationship for at least 12 continuous months;
b) is the parent of your child by birth or adoption; or
c) has custody and control of your child (or had custody and control immediately before the child turned 19 years of age) and your child is wholly dependent on that person for support.
Community Calendar
Franklin Park Herald-Journal with news of Northlake welcomes items for the Community Calendar as well as items for Business Briefs, Campus News, Community Briefs, School Digest and Newsmakers. Items must be received a minimum of 14 days prior to publication, but earlier is better. E-mail items to oakpark@pioneerlocal.com; fax to (708) 383-3678 or by mail to: Pioneer …
003 2009Nov04 Snyder
Filing Taxes
Question: What can race car drivers deduct when filing taxes?
I spend a large amount of money each year on my race car during racing season. Can I deduct any of these expenses when filing my taxes?
Answer: If your income is from racing, then your claim your income on your Schedule C (1040 long form), and your expenses there too.
If racing is a hobby – then no, you can’t deduct your expenses.
Texas going after more online retailers for uncollected sales taxes
Texas going after more online retailers for uncollected sales taxes
How Could I Live Without Filing Taxes?
Road Tax Refund Delhi
Inside the Labs at Microsoft, HP and IBM
At Microsoft, Hewlett-Packard and IBM, investment in research and development is a reflection of corporate culture. This three-part piece examines the different approaches taken by each of these influential tech companies. Hewlett-Packard prides itself on its pragmatism, while Microsoft holds the flag of basic research aloft — and IBM continues to file more patent applications, year after year …