Free Tax Tips

Archive for the ‘General Tax’ Category

Question: Will $25 be enough to pay for a $12.00 pizza will Tax and tip?

Whaaa!! I’m panicking cuz I might not have enough to pay for the pizza! they said delivery costs like $2.00 but how much with tax!?!?!!? I live in canada by the way!
lol…I’m definetly NOT made of money…I have none!
Thanks I’m not so worried now!
Thanks. Yeah it ended up being like $16.00 so I gave him the rest of the twenty.

Answer: That’ll be fine. The tip is only 15%. The pizza bill with tax and delivery cost will probably end up totaling about $16-$17. Tip will be a few bucks more. You’ll have cash left over.

Tax Tip: Seniors-Claim Credits and Benefits on Your Return!

OTTAWA, ONTARIO–(Marketwire – 03/02/10) – From January until the end of March 2010, the Canada Revenue Agency (CRA) is issuing weekly tax tips with information geared towards specific groups that are most affected by new and existing credits, deductions, and benefits in the 2009 tax-filing season. This tax tip focuses on seniors. There are credits, benefits, and deductions to which you may be …

Tax Tips For Retirees – 2009 Tax Preparation Service Canada

Lower Your Taxes Big Time is an easy as 1 2 3. The first step is to identify that you are paying TOO much in taxes and explore how one can lower their taxes. I have just found an amazing book that I just had to share with you. The new edition 2009 2010 is simply amazing. The name of the book is Lower Your Taxes- Big Time and no it isn’t just another “Tax Book”. The book is written by Sanford (Sandy) Botkin a former IRS attorney. Why not get tips from an IRS insider. He actually spent time training IRS tax attorneys in ways to get you and making you pay! He was one of the founding members of the IRS’ elite “Tax Shelter Group”. Finally he realized that the IRS’ intimidation tactics and other tactics and changed sides. I am definitely thankful that he changed sided. And you will be glad he did. Now you can have this great legal mind on your side to keep you out of trouble and without the legal limits of the IRS. The first chapter of Lower Your Taxes- Big Time is titled “Why You would be Brain Dead Not to Start a Home-Based Business (if you don’t already have one). Personally, I have had several businesses for years and thought I knew what I was doing, but I was amazed at the deductions that I was missing! This book literally tripled the amount of deductions I was legally able to claim for last year! Now is the perfect time to begin racking up and taking advantage of the deductions for next year! It is even possible that after reading this book you might want to file an amended return and get back a few thousand extra dollars from last year! Whatever way you decide to go, I strongly recommend that you get this book Lower Your Taxes-Big Time! You can order it from Amazon or simply.Lower Your Taxes – Big Time! The time to begin your Tax Planning is now while you have time to make the changes necessary and take advantage of the wealth of knowledge in this book. If you wait until the last minute you will end up with questionable or illegal deductions. However if you begin planning now, you can do things legally and create a “bulletproof” tax reduction strategy!

Bankrate Unveils New Tools and Research for 2010 Tax Season

Now that the New Year is here and tax season is fast approaching, Bankrate, Inc. released its 2010 Tax Guide, filled with tips and tools to help consumers avoid frustration when filing their taxes.

Tax Tips: Split Refunds-Savings Bonds – January 2010

How to Save on Just About Everything

Real Simple Magazine’s Tips for Cutting Costs on Transportation, Healthcare, Food and Much More

Tax Tip: Withholding Calculator – January 2010

Question: I have my own daycare business. Need tips about taxes!?

I have a small daycare. I am the only adult with 5 children. I started this three weeks ago. I know nothing about taxes except that I want to pay them 4 times a year if I can. Can someone tell me what I have to do about my taxes? A parent asked me today about a N I N..or something like that. She wanted to know if I do that at the end of the year…she said it benifits the parents and their taxes. I have no idea what she is talking about! All help appreciated! Best answer gets 10 points!
No taxes are not covered in the classes to get a license for daycare. At least not where I am. I even asked my childcare consultant (the lady who issued me my license) and she said you have to learn the tax part on your own.

Answer: You have to pay your taxes quarterly if you are self-employed, or you are subject to fines. Since you just open a few weeks ago, you missed the first quarter’s due date, so that’s okay. Hire an accountant. It’s much easier for them to take care of it than you try to learn on your own. I pay my accountant $89 a quarter to do it for me. Keep track of your spending. Keep all your receipts for groceries, cleaning supplies, and toys. Keep all the records of payment from the parents. Keep all your utility bills so the accountant can calculate how much to deduct. Give the parents a Form W-10 along with a summary of payments at the end of the year. You can find a W-10 here: http://www.irs.gov/pub/irs-pdf/fw10.pdf and a summary of payments here: http://thedaycarelady.com/summaryofpayments.doc. When you get a payment, record it on the summary. This is beneficial to the parents for deduction of child care expenses on their taxes.

Tax seminar helps prep for season

ZANESVILLE — The year 2009 was full of highs and lows, but one thing many people appreciate the most is the first-time homebuyer tax credit.

Pay News Network: Taxing of Cell Phone Use, Small Business Payroll and other tax tips

News in brief

Poster contest for Student Film Fest HOLLISTER – The San Benito County Arts Council is seeking submission for its 2010 Student Film Festival poster contest. Students in sixth grade through community college can enter an original piece of artwork. Students can use pen, ink or paint mediums.

Energy Efficiency Wizard Tip of the Week-getenergyactive.org