The National Directory of
Certified Public Accountants

Ask A CPA - Small Business Services

1. Are business gifts deductible?

2. Are small businesses using the Internet ?

3. Are the business gifts I give out at holiday time deductible?

4. Are the costs of starting my business fully deductible?

5. Are there any Federal taxes on Internet access ?

6. Are there any organizations available to help me and my small business . I heard of a SCORE Association ?

7. Are there any reporting requirements for receiving more than $10,000 in cash in one business transaction?

8. Are there any tax incentives in hiring a person with a disability ?

9. As a sole-proprietor, are my health insurance premiums deductible?

10. As an employer , what are some questions that I should NOT ask during a job interview ?

11. Auto lease payments

12. By what date must I as the employer issue W-2 forms to my employees ?

13. Can a Partnership continue after the sale of a partner's entire interest ?

14. Can a partnership lease an auto for business purposes?

15. Can a Trust select a Fiscal tax year ?

16. Can I claim a depreciation deduction on my inventory ?

17. Can I claim a Home Office deduction ?

18. Can I claim a home office deduction on my tax return?

19. Can I claim the part of my living room that has my computer as a home office deduction ?

20. Can I deduct the costs of trees I planted on my business property ?

21. Can I deduct the loss I incurred on the trade in of my business equipment ?

22. Can I depreciate the costs of excavating and the removal of soil from a investment property I own?

23. Can I take advantage of my current year's unused general business credit ?

24. Can I use the Cash method of accounting in my Liquor business ?

25. Cash method of accounting - inventory

26. Corporations - standard mileage rate

27. Defined contribution plan - Limitation on the annual benefit

28. Depreciation, What does MACRS stand for?

29. Did the Research Activities Credit expire ?

30. Did the Work Opportunity Tax Credit expire ?

31. Do all Nonprofit entities have to file Form 990 each year ?

32. Do I have to carryback my current year 's net operating loss ?

33. Do I have to make federal tax deposits electronically?

34. Federal employment taxes payment procedure

35. For what amount of a subcontractor's earnings will I have to issue a 1099-MISC slip at the end of the year?

36. Gifts - business gift limitation

37. Goodwill - amortizable basis

38. How can I get a copy of the IRS Small Business Tax Guide's for the current year?

39. How can I maximize the tax benefit of my current year's large business loss ?

40. How do I calculate a gain or loss on the trade-in of my business automobile ?

41. How do I calculate the amount of tax owed on my freelance secretarial job ?

42. How do I calculate the amount of the advanced earned income amount to include in an employee's paycheck?

43. How do I change my accounting method ?

44. How do I complain about the IRS actions in relation to my small business ?

45. How do I compute overtime for tipped employees ?

46. How do I decide on wage levels ?

47. How do I file an extension for Nonprofit Form 990 ?

48. How do I prepare to get a business loan ?

49. How do I report misconduct and abuse by a IRS employee ?

50. How do I set up the right record keeping system for my business ?

51. I am a small contractor , how do I become Bonded ?

52. I just bought a sole proprietorship . How do I come up with individual cost amounts for the different assets I acquired ?

53. I want to sell my business . How much is it worth ?

54. If I pay my 17 year old daughter for helping me in my business , do I have to withhold taxes ?

55. In reference to banking , what is Debit Card ?

56. In reference to small businesses , what is Bonding ?

57. In reference to small businesses , what is the DUNS ( Data Universal Numbering System ) ?

58. Is my personal credit history considered for a business loan ?

59. Is the amount I pay my trade association deductible ?

60. Is the cost of Farmland depreciable ?

61. Is the Section 179 deduction prorated if I purchase qualified equipment in late December?

62. Is the yacht rental cost I paid to entertain my customer's deductible?

63. Is there a Small Business Association loan I can get for my business?

64. Is there a web site that will give me a listing of accounting and tax software packages available on the Internet ?

65. Is there a website to get a calendar for small business filings ?

66. Purchased of new business equipment - 1st year write off

67. Salesman - NY Knick tickets I gifted my client deductible?

68. Short Form Schedule C-EZ instead of long Form Schedule C

69. Should I file my tax return by the due date even If I can't pay what I think I will owe?

70. Should I not report the interest income that was reported on Form 1099-INT , that was incorrectly sent to me ?

71. Small businesse - SIC ( Standard Industrial Classification Code )

72. Standard Meal Allowance - in place of the actual meal costs

73. Standared mileage rate - for charity

74. Tolls and parking - mileage method

75. Waiters - requirement to report tip income

76. Web site available to help small businesses

77. What are guaranteed payments?

78. What are the benefits of Incorporation ?

79. What are the differences between an limited liability company and an S corporation ?

80. What are the tax consequences of a Partner's Death ?

81. What collateral is the bank asking for as part of my loan application requirements?

82. What documentation do I need to substantiate entertainment expenses?

83. What documentation is needed to deduct auto expenses?

84. What does marketing involve?

85. What does the term "DBA" mean ?

86. What employment forms should all new employees fill out?

87. What financial responsibilities do I have for my employees ?

88. What form do I file to apply for an Employer Identification Number ( EIN ) ?

89. What form does my business file to pay the Federal Unemployment t Tax?

90. What forms should an employer ask an independent contractor to fill out?

91. What is a Business Plan ?

92. What is a close corporation ?

93. What is a franchise ?

94. What is a NonProfit 990 tax return ?

95. What is a Performance Bond ?

96. What is a Surety Bond ?

97. What is a Venture Capitalist ?

98. What is the current years 179 deduction limitation ?

99. What is the difference between a Corporation and a Limited Liability Company ?

100. What is the difference between a S Corporation and a Regular C Corporation ?

101. What is the dollar amount for the maximum account balance in an employee stock ownership plan subject to a 5 year distribution period ?

102. What is the IRS phone number to get a Federal ID Number ?

103. What is the IRS phone number to get an EIN ( Employer Identification Number ) ?

104. What is the IRS web site address ?

105. What is the liabilty of my father who is a co-signer on my business loan?

106. What is the Small Business Administration's web site ?

107. What is the standard business mileage rate

108. What is the web site for the Securities and Exchange Commission ?

109. What is Workers Compensation ?

110. What legal aspects should I consider when starting a new business?

111. What proof do I need to substantiate my travel and entertainment expenses ?

112. What records should I keep to prove the business use of my automobile ?

113. What should I know about accounting and bookkeeping ?

114. What types of payments would require a Form 1099-MISC to be issued?

115. When are business meals and entertainment expenses deductible?

116. When is Nonprofit Form 990 due ?

117. When is the tax return filing due date for a Decedent's Estate ?

118. When is the tax return filing due date for Corporations ?

119. When is the tax return filing due date for Estates and Trusts ?

120. When is the tax return filing due date for Exempt Organizations ?

121. When is the tax return filing due date for Gifts ?

122. When is the tax return filing due date for Partnerships and Limited Liability Companys ( LLC's ) ?

123. Where can I get Nonprofit Form 990 ?

124. Where do I file Form 5500 ?

125. Why shouldn't I lease a car instead of buying it for my business, if it gives me a larger deduction than depreciation?

126. Will the IRS ever waive penalties ?

If you need professional help with "Small Business Services" or have other tax questions, we can help you find a local licensed CPA for a free, no-obligation consultation.