Mitt Romney’s Tax Returns: When Will He Come Clean?

Share this: http://OFA.BO/1WxgHw
Tweet this: http://OFA.BO/6zg9NQ

Mitt Romney has only released one full year of Tax Returns. Why hasn’t he released more?

Is Romney willing to share any new information?

Duration : 0:1:30

Continue reading

Technorati Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Rep. Paul Ryan on the Need to #StopTheTaxHike and Advance Pro-Growth Tax Reform

You know, American businesses and families are wondering what will their tax rate be come 2013. Well, a lot of us are wondering the same ourselves because the President seems intent on making sure that we have a massive tax increase that hits families and successful small businesses come January 1, 2013.

We think it’s a mistake. We don’t think it’s the right way to go. There’s all this uncertainty plaguing the economy as to what our tax rates are going to be. So next week in the House of Representatives, we are going to be passing legislation to show very clearly, here is what we want to do.

We want to extend the current tax code for one more year and have fast track procedures in the House and the Senate to make sure that we actually embrace Tax Reform. The days of picking winners and losers through the tax code need to come to an end. We need to lower our tax rates by plugging loopholes so we don’t lose revenues but by making it easier for families to keep more of what they earn, for small businesses to take risks and create jobs.

If this tax increase hits our economy come January as the President seems to be committed to doing, it is going to cost us jobs. It’s going to make our businesses less competitive. One estimate says it could cost us 700,000 jobs. All of this uncertainty, all of this taxing and spending — it’s not working.

We need to reform our tax code, cut our spending, and give families and businesses the certainty that they need to make good decisions so they can prosper and create jobs in this economy – that’s exactly what we’re doing in the House of Representatives next week.

Duration : 0:1:26

Continue reading

Technorati Tags:

E-filing for IT returns extended to Aug 31

The government today extended the last date for e-filing of Income Tax returns till August 31 after power failure disrupted normal life in many parts of the country. “On consideration of the reports of disturbance of general life caused due to failure of power and further in consideration of the fact that the e-filing of returns for a specified category of individuals and Hindu Undivided Family (HUF) has been made mandatory, CBDT has extended the ‘due date’ of filing of returns to August 31, 2012,” an official release said. For more info log on to:

Duration : 0:0:23

Continue reading

Technorati Tags: , , ,

“Old Corporate Tax”

Get free advice at:

Joe Mastriano, Houston Texas CPA talks about: old corporate tax, corporate delinquent returns, past Corporate Tax, due corporate tax

For professional tax help call 713-774-4467, email or visit us at 8303 S.W. Freeway #636 Houston, TX 77074.

Duration : 0:1:3

Continue reading

Technorati Tags: , , ,

Is recent tax package going to affect my return?

I understand a little about this so called "package" Mr. Bush speaks of. There are talks of a refund near the end of the second quarter; but will this affect my Income Tax return at all?

It is an advance of your refund for 2008. When you file your 2008 taxes in 2009, you will have to pay it back. Overall, I think that it is a bad idea.

It will not affect your Tax Return that you file for 2007.

Do not count on getting this money until it has passed both houses of Congress.

Why can’t House Republicans get behind a deal that would reform the tax code?

I thought they were libertarians, instead the tea party is looking like neo cons. Some things never change…
Use google.

If you were rich and didn’t give a sheit, like the rich tend to be, you would already know the answer !!

How do I calculate Income and SE Tax?

I have sole-proprietorship. After expenses my taxable income is $1275.90. My question is do I take 15% off that number for Income Tax THAN out of that number after Income tax I subtract additional 15% for SE Tax or do I have to use $1275.90 as a starting point for both taxes??

Thank you for your reply’s.

First of all – if you have a sole proprietorship, you are filing something called a Schedule C. Your Schedule C will reflect "gross income" minus "expenses", resulting in a "net profit".

If the $1276 is the number on the "net profit" line – that applies to the business only.

If this amount is truly the only income you have, you will be credited back the "one-half self-employment tax", which in your case will be $90. This means your adjusted gross income is $1186 ($1276 – $90). Assuming you are single and childless, applying your standard deduction and personal exemption credit will bring your taxable income to "0".

Adding your self-employment tax ($180) back, means that $180 is what you will owe.

One of the major source of tax revenue for the Singapore Government is corporate taxes.?

Tell us what ways can the Singapore Government boost its tax revenue in view of the declining Corporate Tax rates in Singapore.

Dear check this:
I hope that resolves your problem.
Keep using

Will I get less tax return if hubby went back to work last year?

We both work now, got a huge Tax Return last year, worried this year because I am not claiming him as a dependent. Thanks in advance.

It really depends. It depends on how much he makes, what you claimed on your W-4’s.

You may get more.