MES asked:


If anyone knows anything about taxes can tell me if I am self employed with a home based business and file it as a Corporation, can this help me in any way on my taxes.

If yes, please explain.

Thanks

mwright555 asked:


I under withheld in my regular full time job and owe alot in taxes…i have a part time home based business that i spent alot more on than i made, can i use deductions to offset the revenue as well as lower my gross income from my regular job? I read u can only use the deductions up to whatever the revenue was for the home based business?

j_mallock asked:


I am starting a pool and spa cleaning business. Because it is just starting, it is considered a home based business. I am not going to have any employees so do I need any kind of federal or state tax numbers? I know I will have to pay taxes on the business, so how do I set that up? I have looked online and on the IRS website, but I am hoping someone can explain this in lamens terms. Thanks

Ann N asked:


I have an accounting degree, specifically in taxes and looking for a home based business that fits my back ground. Any ideas?

rothchristian asked:


I am looking into setting up a home based Business as a part time thing. I have a day job and I would like to do this music endeavor on the side. I want this to be legitimate but I know I will be making very little money and writing off a lot in tax deductions. Does anyone have experience in with this type of scenario? Is there a reasonable expectation that IRS has around how much revenue needs to come in for how much you are writing off? I don’t want the Business to appear fraudulent although I have more to gain from a tax deduction basis.

moopoo55 asked:


Let’s say that I’ve calculated most of the 2003 year and have concluded that I didn’t owe any taxes for 2003 and 2004 but instead am due a refund.

I’m working to get a good accountant but find that most don’t know about tax shelters, estates, or any of the small business (home based) irs laws.

Please, this is serious. Don’t respond if you don’t have a quality answer for me.