Small Business

Although you purchased a sole proprietorship for 1 amount, that amount must be allocated to the individual assets for depreciation purposes. Allocation is based on the proportion of the sales price to an individual assets fair market value at the time of the sale. Speak to your local CPA about the allocation formulas.

No. You may not deduct the loss you incurred on a trade in of your business equipment.

The Royalty checks for writing a book is considered income subject to self-employment tax if the recipient can be considered to be regularly engaged in that business or profession and will report this activity on a Schedule C.
The Royalty checks for writing a book is not considered income subject to self-employment tax if the recipient writes only one book as a sideline and will report this activity on a Schedule E

Generally, transportation from your house to the Army reserves meeting that is not overnight is not deductible.
If you travel overnight you may claim the deduction. Transportation from your regular work location to a meeting on a regular workday is deductible as a miscellaneous itemized deduction subject to the 2% AGI limitation on IRS Schedule A.

Generally, the costs to launder your uniform are deductible as a miscellaneous itemized deduction subject to the 2% AGI limitation on IRS Schedule A.
This is true if you are prohibited from wearing the uniform when off duty.

NO. In general, nonprofit entities with total yearly "gross" receipts over $50,000 must file federal form 990 annually. There are exceptions of organizations who do not have to file. In general, Churches government agenciesand certain political organizations do not have to file any form. If gross annual receipts are equal to or greater than $200,000 or its total assets are equal or greater than $500,000 the Form 990 must be used instead of form 990--EZ.

Form 990 is due four and a half months after the close of your fiscal year. If your fiscal year ends on December 31, Form 990 is due on May 15. Use Form 8868 to file a 3 month extension.

Most small tax-exempt organizations whose annual gross receipts are normally $50,000 or less ($25,000 for tax years ending after December 31, 2007 and before December 31, 2012) are required to electronically submit Form 990-N, also known as the e-Postcard, unless they choose to file a complete Form 990 or Form 990-EZ instead. If you do not file your e-Postcard on time, the IRS will send you a reminder notice. There is no penalty assessment for late filing the e-Postcard, but an organization that fails to file required e-Postcards (or information returns – Forms 990 or 990-EZ) for three consecutive years will automatically lose its tax-exempt status. The revocation of the organization’s tax-exempt status will not take place until the filing due date of the third year. Federal IRS offices have Forms 990 and 990 EZ forms, as well as the Instructions. You can request these forms by phone at 1-800-829-3676 (1-800-TAX-FORM). Also you can get them on line: , click on Forms & Pubs, and then Forms & Instructions.

Form 8868 is used by an exempt organization to request an automatic 3 month extension. (6 months for a corporation required to file Form 990-T. Generally, Form 8868 is due by the due date of Form 990. To be granted payment of balance due is required by the due date for which the extension applies. Mail Form 8868 to Dept of the Treasury, IRS Cenetr, Ogden, UT 84201-0045. Note that Form 8868 can be filed electronically.