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Question by Don’t Remember My Name: What would happen in the Government decided to reduce income tax and increase goods and services tax?
the tax revenue collected still remains the same
what would be the consequence to a household?

Best answer:

Answer by denissnowy
disposable income increases – your salary is the same but less tax so more cash
Things cost more – so inflation which generally triggers spending
So potentially people would spend more to get the same goods.

Obviously the different rates of tax will make the reality more complex. It could act as a means to get the economy moiving though the true benefit comes where people buy home produced goods as opposed to imports.

If the population were in debt and interest rates high, the effect might be to have them repay debt which would cut tax revenue without affecting demand.

Know better? Leave your own answer in the comments!

Question by Bruce: I run a computer services business, I live in the state of missouri, Am I required to charge tax for my servic
I do repair services, and only charge for labor. Do I have to charge sales tax or any other tax on my services.

Best answer:

Answer by C H
Yes, u need to charge sales tax for all services, parts, etc. Hint: You can charge double the tax on parts u have purchased by adding the oriogonal sales tax you paid into the origonal cost of the item and then adding the customer tax on top of it. This will result in a slight overpayment of taxes for each product sold and generate a larger return at the end of the year. Idealy you need to add the customers sales tax to the item before the origonal sales tax was applied. This is called passing the tax along to the customer. Not sure how tax rates run where you are at but for us the purchasig origonal sales tax is less than the sales tax we must charge for items purchased from us by our customers. Yes there are 2 different rates for us is PA. The origonal sales tax we must pay is govered by our state, the customer sales tax is govered by federal tax laws. Don’t try to figure it out, like i have been trying, just abide by it or it will drive you nuts! HA
I work as a book keeper for a computer repair company, and in USA the fed gov wants tax money for everything we do. Below is our companies site. It has nothin to do with tax though. We too charge a flat rate for repairs and figure the taxes into that after the sale. So we do not make the entire said rate but only a portion once we take the taxes out of it. This way it is a solid dollar amount and we can say we charge a flat rate for labor and it looks more attractive to our customers and ALOT easier for them to guestimate in their heads what a repair cost might be.I Hope this helps you out.

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Question by : Do I have to remit/charge sales tax on accounting and tax services?
I’ve decied to start my own business but I was wondering If I needed to charge/remit payments to my state for sales taxes. If so, what would my rate be? I live in Utah.

Best answer:

Answer by Moonsong
Services are not taxable. Goods are taxable.

Each state has its own website, on it will be a link to its Board of Equalization, or sales tax department. If you are buying and selling any goods along with your service, apply for a permit. They will send you your SBOE number. You use this to omit paying sales taxes for the business goods you purchase, and you use it to file monthly with the state for any sales taxes you collect on goods you sell.

The rates across the nation are changing now.

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Question by Bonny: Has anyone taken a tax prepartion course with Liberty Tax Services?
If so, how was the instruction? Did you get hired on? According to Liberty’s web site, the in-person classes are free, but you must pay for books. How much are the books?

Best answer:

Answer by Huntsman
You have to call them up and ask them.
All offices may have different prices.
If those books are more than $ 300 or $ 400 don’t do it

What do you think? Answer below!

Payroll operations are not limited to handing out paychecks on pay day but also involve critical calculations concerning the pay as well as other benefits of every employee depending on the number of hours or days worked.

Payroll processing is a time-consuming and complex procedure involving calculation of pay in an accurate and timely manner. Unfortunately, manual calculations are more likely to have errors. Hence, it is preferable to outsource to online payroll service providers who can deal with payroll process with accuracy.

As you look for information about payroll service providers, you would probably come across hundreds of articles on factors to consider when choosing a payroll service provider but none on how to choose a payroll tax service provider. The payroll tax-filing solution involves state tax reporting, filing quarterly and annual payroll taxes, year-end W-2s and other tax regulation services.

Although online payroll service providers usually offer payroll tax-filing solutions, the following features must also be present in order to have tension-free payroll process every month.

Security: Whether you are a small or mid-sized business, keeping information confidential is a need which must be fulfilled by payroll tax service provider. You can inquire about security encryption methods the provider uses to secure your data.
Customer Support System: Payroll tax-filing system is a complex part of payroll service. Therefore, full customer support that is available 24/7 is essential. Along with that, you should also be able to contact a representative over phone during office hours. This will help you to have immediate assistance if ever you have payroll tax issues.
Compliance: It is one of the most important aspects in payroll tax filing as laws tend to change with time that it, sometimes, becomes quite difficult to stay updated with compliance regulations. Choosing a reliable company can eliminate losses or penalties due to legal complications. The payroll tax-filing company will always stay compliant with law regulations.

All the above features play a significant role in making payroll tax-filing time stress-free. Usually, you can get all the above information by visiting the provider’s website. However, it is important to consult with previous clients to assess the provider’s track record and get a lot more information about their profile and reputation in the industry. If you find out everything is in order, you must choose the one that is offering all the above services at a price you can afford.

Question by Christine: during the month of operations, rodriguez tax service provided services and billed customers in the amount of?
$ 7,000. by the end of the first month, $ 4,600 had been collected and it ws expected that the other $ 2,400 would be collected during the following month. On rodriguez’ income statement for the first month, what amount of revenue should be reported?

Best answer:

Answer by Malc
All of it

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Question by Curious T: Anyone filed with Instant Tax Services received a federal tax refund yet on their Insight Card this morning?
Just curious because of their numerous complaints out there on Rip off report.com and Complaints Board. Has anyone gotten numerous lies from these people about their so called RAL’s and info about your taxes. Please share your comments about them if you have had a bad experience this year with them.

Best answer:

Answer by Andrea Griggs
I didn’t file with them this year, but i made that mistake last year and i received my money 2 weeks after they said I would. It was only 10 on my card, they said their bank didn’t approve anybody last year. I hope all goes good for you. Good Luck!

Add your own answer in the comments!

Question by telly2k6: Why you buy my tax services if you were a business and you needed them?
I started a business and sold accounting services such as tax prep and bookkeeping, would you buy them ?

______ Definitely would buy
______ Probably would buy
______ Might or might not buy
______ Probably would not buy
______ Definitely would not buy

Best answer:

Answer by rtfm
How can we POSSIBLY answer such a question without knowing anything about you or your credentials?

Would you hire me to do repair work on your automobile? See how absurd that question is? You don’t know whether I know how to repair cars or not. Same with your question here. We have no idea what you could do for us.

Add your own answer in the comments!

Income tax filing is easy but it depends on which method you choose and how you perform the task. Most people find it easy to file their tax return online compared to the traditional and old method of paper filing. If you are looking for the easy and convenient option to pay your taxes, then nothing will be easier than online tax filing. There is no harm to work with an IRS authorized tax service if you are not capable of completing the task on your own. In this article, you will learn about how you can go easily through easy options.

If you are much worried about completing your taxes before the deadline, you can opt for online services for your advantage. First of all, you require preparing your return accurately before you consider it filing to the IRS. Any reliable tax service will help you prepare your return file online in easy way possible. Most probably, you will have to prepare it with the help of easy-to-use software.

The fair aspect of it is that, even though you are not much familiar with the tax issues and complexity of forms, you will be able to carry out your task in a trouble free way. The software, which is offered by the service provider you decide to work with, will help you
do all kinds of math and calculations for you. Even claiming the deductions will be easier if you use it properly.

The most remarkable advantage of preparing it online is that you will be able to review it and check it out for mistakes prior to sending it online. Whether you require preparing and filing online federal tax or state tax there is noting to worry about!

After your return file is completed accurately and you find no errors or nothing missing out, then you may consider filing your return electronically. If you are smart enough and are accustomed to do it online, then go for it on your own otherwise, it is more advisable to do it with a reliable and IRS authorized e-filing service providers. Most of the companies offer federal tax preparation and online filing for free, so there is nothing like getting worried about spending your money.

For those who are seeking for the affordable and reliable services, there is nothing to get disappointed as many IRS approved e-filing services and specialists are easily accessible. Choose the best one and complete your task accurately, conveniently and become worriless!