What’s Your Most Urgent Question About Business Taxes?
What questions do you have about your business taxes?
I’d like to do a series of articles this month and next to help small business owners like you to better understand their business taxes.
Rather than write only about what I think is important, I’d like to hear what’s on your mind.
Leave a comment below, and I’ll do my best to address your question—before you have to file your return. If you’re not comfortable going “public” with your question, email it to me.
February 5th, 2010 at 6:44 am
I know I can deduct business meals, but what restrictions/limits are there on that, and what do I need to do in terms of record-keeping to deduct it properly?
Also, if I go to a business networking event, is that cost deductible? What if I buy drinks at a networking cocktail party? Are they deductible? Again, what do I have to do to claim them?
February 7th, 2010 at 5:07 pm
I just last years started selling products on eBay as a new business. Do I need to have an EIN to pay state sales taxes or since I’m a sole proprieter, should I just use my social security number on the forms?
February 9th, 2010 at 5:08 am
@Scott
Great questions, thanks for asking. The rules on business meals and entertainment can be tricky to understand. I’m working on an article to explain what’s deductible and what records you have to keep.
Watch for it later this month.
Sheryl
February 9th, 2010 at 5:18 am
@Every2ndTuesday
The regulations for collecting and paying sales tax vary from State to State. You’ll probably need to apply for a sales tax license or a retail merchant’s certificate (or something with a similar name) in your home state.
Check with your State Department of Revenue for their specific rules and procedures.
Sheryl