Archive for September, 2010
happynoodleboy81 asked:
I have two sources of income, and am trying to figure out exactly how much I can say is business expenses. I’m wanting to deduct expenses related to one job, but that particular job didn’t have enough income to cover those expenses, but both jobs’ income combined did. Am I only allowed to deduct the expenses for that particular job? For example, one job is transportation related, the other is web related. I get enough income from the transportation job to cover the expenses for both jobs, but i’m wanting to declare expenses from the web related job, which didn’t get enough income to cover them.
On the web related job, I didn’t make enough to get a 1099, and I don’t believe I ever got a W2. As for the other job, I got a W2. Although it’s sounding like I can only deduct expenses related to one particular job, so it doesn’t seem like it matters either way.
Rayford Laurenitis
I have two sources of income, and am trying to figure out exactly how much I can say is business expenses. I’m wanting to deduct expenses related to one job, but that particular job didn’t have enough income to cover those expenses, but both jobs’ income combined did. Am I only allowed to deduct the expenses for that particular job? For example, one job is transportation related, the other is web related. I get enough income from the transportation job to cover the expenses for both jobs, but i’m wanting to declare expenses from the web related job, which didn’t get enough income to cover them.
On the web related job, I didn’t make enough to get a 1099, and I don’t believe I ever got a W2. As for the other job, I got a W2. Although it’s sounding like I can only deduct expenses related to one particular job, so it doesn’t seem like it matters either way.
Rayford Laurenitis
Elizabeth B asked:
I work for a struggling company that has a profit sharing program (not a 401k). I learned today that the owner plans to pull funds from the profit sharing program to make payroll for the employees. Is this legal? Do the employees need to give permission for this to happen?
Nichelle Dorris
I work for a struggling company that has a profit sharing program (not a 401k). I learned today that the owner plans to pull funds from the profit sharing program to make payroll for the employees. Is this legal? Do the employees need to give permission for this to happen?
Nichelle Dorris
shamumusic asked:
Need to buy a computer and plan to incorporate within the year. Should I hold off on this purchase?
Johnny Amerine
Need to buy a computer and plan to incorporate within the year. Should I hold off on this purchase?
Johnny Amerine
tricetoy asked:
accountable plan?
a. schedule d
b. schedule a, Miscellaneous itemized deductions
c. form 2103, employee business expense
d. no form; the expenses are not reported as income to the employee, so they are not deducted on an irs form in the employees tax return.
Perry Gordey
accountable plan?
a. schedule d
b. schedule a, Miscellaneous itemized deductions
c. form 2103, employee business expense
d. no form; the expenses are not reported as income to the employee, so they are not deducted on an irs form in the employees tax return.
Perry Gordey
rascoe627 asked:
My lawn business is growing and I am trying to decide which method would work the best for my business when it comes to paying expenses like taxes, workers comp., insurance and etc., and what credits would be available to me for each. Should I operate my business as an employer, partnership or contract my equipment and work out to individual people? This is my 5th year cutting. I am doing 200 cuts per month and I expect to do at least 500 per month in 2011.
Darline Lavanchy
My lawn business is growing and I am trying to decide which method would work the best for my business when it comes to paying expenses like taxes, workers comp., insurance and etc., and what credits would be available to me for each. Should I operate my business as an employer, partnership or contract my equipment and work out to individual people? This is my 5th year cutting. I am doing 200 cuts per month and I expect to do at least 500 per month in 2011.
Darline Lavanchy
WonderWoman956 asked:
As Governor of Alaska, she was taking her daughters to all kinds of events with her, even though she didn’t have to. Well, she would write it off as business even though they wouldn’t participate. All in all she has been using the taxpayers money to pay for it all, total of over $23 Grand. What do you all think about that. Imagine if she was our next VICE! How much of our tax money do you think will go to paying plane tickets and luxury hotels for her daughters to tag along.
Tad Michalik
As Governor of Alaska, she was taking her daughters to all kinds of events with her, even though she didn’t have to. Well, she would write it off as business even though they wouldn’t participate. All in all she has been using the taxpayers money to pay for it all, total of over $23 Grand. What do you all think about that. Imagine if she was our next VICE! How much of our tax money do you think will go to paying plane tickets and luxury hotels for her daughters to tag along.
Tad Michalik
Sara asked:
2.When you calculate your profits, it is especially important for you to include the value of your time.What is this called?
3.If you need help with starting a small business, where can you look?
Chung Vanweerd
2.When you calculate your profits, it is especially important for you to include the value of your time.What is this called?
3.If you need help with starting a small business, where can you look?
Chung Vanweerd
jdb_1972 asked:
Or does it mean expenses if you own your own business?
William
Or does it mean expenses if you own your own business?
William
jayps asked:
I am trying to get a refund from a small business in Las Vegas, and I live in Los Angeles. They have been giving me the run around for about 6 months. I don’t know what to do.
Sterling Dove
I am trying to get a refund from a small business in Las Vegas, and I live in Los Angeles. They have been giving me the run around for about 6 months. I don’t know what to do.
Sterling Dove
justin l asked:
I recently just started a home based business. I am working part time, going to school, and attempting to start what I want to do after I get out of school. Really, I am just going to school to get my degree just in case something doesn’t work out. I have already done some business this year and made a decent amount of money. However, I am now into the business portion of my degree and was wondering if I can use my classes expenses (business related) as a business expense. I would like to continue my business and also keep learning things that will help my company get better at what it does. Is this feasable or even a good idea? I really have not heard myself of anyone doing this.
Nathaniel Grandt
I recently just started a home based business. I am working part time, going to school, and attempting to start what I want to do after I get out of school. Really, I am just going to school to get my degree just in case something doesn’t work out. I have already done some business this year and made a decent amount of money. However, I am now into the business portion of my degree and was wondering if I can use my classes expenses (business related) as a business expense. I would like to continue my business and also keep learning things that will help my company get better at what it does. Is this feasable or even a good idea? I really have not heard myself of anyone doing this.
Nathaniel Grandt