Do I have to charge sales tax in my home based business?
The answer is… yes!, says Dr. Jean Murray, former blogger here at Home Biz Notes, who now offers information and advice at Dr. Jean Means Business.  She has given an answer to a question posed by a Home Biz Notes reader concerning whether she needs to collect sales tax when selling items from her home business.
Dr. Jean:  If the products or services you are selling are taxable in your state, you must:
(a) Register as a Seller
(b) Collect the correct amount of sales tax
(c) Report on sales taxes collected, …read more

What shall businesses do if the “cap and trade” tax goes into effect?
 According to estimates, this tax on energy and energy use will cause an average increase per family of more than $3,000 per year?  Can families endure it in this recession prone era?  Can businesses survive?
 The bill is hotly debated, but those who promote the global warming agenda (which more and more scientists say is over emphasized) are using scare tactics to push it through Congress and impose this tax on businesses, which ultimately greatly affects the consumer.
 Will your home business survive with added taxes?  In other words, you’ll …read more

HomeBizNotes.com
Jean Murray, at Small Business Boomers, has a great post with information about what the IRS (Internal Revenue Service in the US) considers a true business. You might like to check out her, Boomers Retiring to “Fun” Businesses: Is birdwatching a business?
She mentions some of the criteria the IRS uses to determine whether you’re en titled to deduct your losses from the business you’re operating or starting up. Jean does mention that writing is one business that’s easier to justify some of your expenses under the “hobby loss” rules than others.
(Amazon image)
(c)2008 Mary Emma Allen

HomeBizNotes.com

When setting up a home business or thinking about it, there are many aspects to think about.
Here are five to consider:
1. Choose a business that’s timely.
2. Do your market research.
3. Decide whether your business will be online, offline or a combination.
4. Develop a business statement.
5. Do I need a computer; if so, what type?
What did you consider when you were setting up your home business. Or did it simply evolve?
(Amazon image; click on image for details)
(c)2008 Mary Emma Allen

 HomeBizNotes.com
Keeping records, for tax purposes and to determine whether you are making money, is vital in a home business. You don’t simply put the money you collect into a “cigar box” and feel it’s free and clear because it isn’t a fortune.  You have expenses, too, that detract from that money.
You must set up a system for tallying your income and your business expenses. Check into a system that works for you and your business, whether it’s online or on paper or a combination.  Talk to an accountant, another business owner, research various systems.
What is your system?
(c)2008 Mary Emma …read more

HomeBizNotes.com
You may think your home business is  beyond any fall-out from political politics.  You’re a small business owner, minding your own business and staying away from involvement in politics, whether locally, statewide, or nationally.  You aren’t running for any office and feel you can be immune from the whole situation.However….
*Many local political decisions can affect your business…from zoning regulations to spending that raises taxes.
*Statewide decisions can affect your business.  In our state, there are no sales tax.  However, this issue frequently comes up among the politicians as something to initiate to raise money.  Business taxes, employee taxes, environmental regulations, etc., …read more

HomeBizNotes.com
Throughout the b5media Business Channel this month, we’re guest posting at one another’s blogs.  Jean Murray, co-blogger at Small Business Boomers has written a post about taxes.  For those of you who are taking a last minute approach to your taxes (in the US, they’re due Apr. 15), Jean reminds you about the home office business deduction.
Are You Taking Your Home Office Business Deduction? 
(Guest post by Jean Murray)
The SBA has a good idea.  Many home business owners don’t take their home office business deduction. I don’t, and I’ll tell you why. The IRS says that you can deduct “the business use of …read more

HomeBizNotes.com 
We’ve been discussing, here at the Business Channel, after Jennifer Hofmann at MyOrganizedBiz initiated a tax rebate daydream meme, how we’d spend ours.  Most have been assuming $600, but is appears in some cases it may only be $300. 
Supposedly it’s all for free.  However, somewhere, somehow, and by someone, the money will have to be paid.  Does this mean higher taxes eventually? 
Anyway, I should be sensible with mine and apply it toward the higher fuel bill that accumulated over the long, cold, snowy winter in New Hampshire. 
If I splurged, I’d get one of the laptops I’ve been looking at to replace …read more

HomeBizNotes.comDepending on the products you sell or the services you provide, you may find an additional tax on these items if you live in New Mexico (USA).  According to an article at Levine Breaking News, US State Wants to Tax TVs, Video Games to Fight Fat, Fund Education, a Democratic lawmaker, along with the Sierra Club, proposes that a tax be levied on the sale of televisions and video games. Their reasoning is that use of these items result in lack of exercise which, in turn, leads to obesity in children and poor performance at school.
If this law passes in New …read more

HomeBizNotes.com
With this talk about tax rebates to stimulate the economy in the United States, do you wonder how it will affect your home business?
If the rebates do go through, who will pay for them? There’s no free lunch, much as some people think there is. Someone has to pay.
So will our taxes eventually go up to do it, both business and personal?
Is this handout being considered because it’s Presidential Election Year? Is this just another way for candidates to “buy” the votes? Will those who advocate the largest handout/rebate get the most votes? Then who will figure out whom to …read more