Small Business
The most frequently asked tax questions related to Small Business
What documentation is needed to deduct auto expenses?
Asked Monday, November 28, 2011 by an anonymous userCPA Answer:
You should maintain a log or diary of your auto expenses. If you use the actual expense method you should save the actual receipts for gas, oil, insurance, repairs, lices and taxes. If you use the mileage deduction method you need to maintain a log or diary which lists the date, destination, business purpose, mileage driven (odometer start/end) type and amount of other expenses incurred. Currently there are phone applications for mileage documentation.
Web site available to help small businesses
Asked Friday, November 18, 2011 by an anonymous userCPA Answer:
Yes. The IRS has developed a web site to help small business and self-employed persons at www.irs.gov/businesses/small/index.html.
Web site available to help small businesses
Asked Friday, November 18, 2011 by an anonymous userCPA Answer:
Yes. The IRS has developed a web site to help small business and self-employed persons at www.irs.gov/businesses/small/index.html.
I live in Alabama, California, Florida, Kansas, New Mexico, Oklahoma, Where do I file Form 941?
Asked Friday, October 28, 2011 by an anonymous userCPA Answer:
If you are filing a form without a payment, mail Form 941 to IRS Ogden, UT 84201-0005. If you are filing a form with a payment, mail Form 941 to IRS P.O. Box 105083 Atlanta GA 30348-5083
In a merger , what is the Pooling of interests accounting method ?
Asked Friday, January 12, 2001 by an anonymous userCPA Answer:
Pooling of interests is an accounting method for reporting acquisitions accomplished through the use of equity. The combined assets of the merged entity are consolidated using "book value", as opposed to the Purchase method, which uses "market value". The merging entities financial results are combined as though the 2 entities have always been a single entity.
Independent Contractor Audit guide - website
Asked Monday, January 08, 2001 by an anonymous userCPA Answer:
You can find out what to expect on an udit as an independent contractor by going to www.irs.gov/bus_info/tax_pro/tax-law.html
Is there a website to get a calendar for small business filings ?
Asked Monday, January 08, 2001 by an anonymous userCPA Answer:
Yes. http://www.irs.gov/businesses/small/
Is there a website to contact an appraiser ?
Asked Monday, January 08, 2001 by an anonymous userCPA Answer:
Yes. www.appraisers.org. The American Society of Appraisers (the “Society”) is a multi-discipline non-profit international organization of professional appraisers (valuers). The mission of the Society is to foster the public trust of our members and the appraisal profession through compliance with the highest levels of ethical and professional standards. The American Society of Appraisers:
Job Hunting
Asked Wednesday, January 03, 2001 by an anonymous userCPA Answer:
You may deduct expenses of looking for a new job in the same line of work whether a new job is found or not, if it is not your first job in that profession.
Expenses incurred in seeking your first job are not deductible.
Also job hunting in a different line of work is not deductible.
Expenses incurred in seeking your first job are not deductible.
Also job hunting in a different line of work is not deductible.