Is filing your taxes with turbotax software and using a credit card for the payment portion considered a cash advance or a charge?
217497
It is a charge.  Try to avoid turbotax in the future.  It is probably the worst tax software around.
192308
TurboTax 2004 website is at http://turbotax.intuit.com/commerce/catalog/category.jhtml?categoryId=cat0000000000006333121  - they offer various products and starts at $39.95 for federal alone (additional $29.95 for state). \n\nI have used for the past 3 years now the form of TaxSlayer http://www.taxslayer.com - they are one of the approved vendors of IRS for online filing. Unlike Turbotax, they charge a flat fee of $9.99 for ALL federal and state individual tax forms. And that price includes e-filing already. No additional fees for downloading other forms such as state, Schedule C or K1 or others. With TurboTax, downloading Schedule C for example costs $59.95. \n\nI've been very satisfied with them.
9779
Section 179 of the Internal Revenue Code now allows taxpayers to deduct certain capital assets such as computer costs along with software (up to $24,000 in 2004). This comes about the fast paced world of techology where technology related assets used in the business usually are outdated within one year. Thus, you can under these circumstances deduct the entire amount within the current tax period against your business income. Also, you can qualify for this deduction even if you purchase the computer on credit. If you provide more details about this question, the answer can be expanded.\n\nHope this helps.
374627
I faced that same situation and realized that the $50 or so a month that you pay a place like ADP to do all the paperwork, file the tax forms, send in tax payments, cut checks for you, and send you W2 forms and year end summaries is a good deal.\n\nI found that when I did it myself I was spending a lot of time unproductively doing clerical work and that made the use of a company like ADP very cost-effective. Plus if anything goes wrong they just whip out their paperwork and show the IRS that all was done properly. Doing that on your own is a major headache..
612876
The most expensive part of accepting credit cards for your business is paying the "discount rate", to the credit card processing bank.  The cheapest, lowest, "discount rate" is  physically running a card through a machine or "swipe rate", like you do when you shop.  The next rate is called a "keyed in rate."  Where the customer puts the number into the pad off the computer with the 3 digits off the back of the card as proof.  This is an added security measure the banks like to see that will win you the next rate.  The highest rate is when the customer calls you on the phone and verbals the number to you a, "non-qualified rate."  Basically each level is an added amount of risk the processing bank is making you pay for with each transaction.  There is one more rate and it should be lower, more around the keyed in rate, and this is for debit cards.  Today, 80% of all cards used in the market place are debit cards.  Also Discover card and American Express have the highest rates.  So all this said, your business "is going to incure a bit of an expense" in order to accept your first credit card.  However, in order for you to be in business at all, especially an e business, you HAVE to accept CC's.  \n\nNow back to your question,  you have to shop around.  I would suggest shopping the conventional cc processors first.  Who are they?   Look in the phone book in every major city.  Or go to a couple local businesses and ask them for a referral.  Stay away from "Heartland"  Look for a company who does not lock you into a contract.  Also you should not have to buy any equiptment other than the link.  If you do buy a machine, buy it.  Do not lease it for 8 times more than it is worth.  The non-internet based cc proccessors will probably give you better rates than any internet based cc processor.  I used to work for a proccessing bank and we had an option for internet based businesses.  Basically, shop around until you find the lowest discount rates, on Visa and Master Card around 1.5 - 1.75 at a .10 transaction fee" and no statement fee. If they can offer you these rates for "swiped in rate".  The keyed in rate which is where you business is, is around 1.00 higher.  That is a great rate.  Disc & Amex will be around 3.5-4.0, far less people use  these cards and you don't have to accept them if you so choose. They will charge you $150 to $200 to set up your account and they will give you a link your web designer can easily add to your site.  Each month you receive a statement call the processor and have them explain it to you.  You want to make sure they don't change the rates on you.
286280
most credit card companies offer "purchase checks", which are basically a check, but the payment is applied to your credit card.\n\nCheck with your CC company to see if they offer these.
546555
You still need to file, and would be better if you do it before they contact you (and if you had income that was reported, they will eventually, by which time you'll owe even more in interest and penalties.\n\nYou should always file even if you don't have the money to pay.  If you can't pay right away, they'll set up a payment plan, and yes, you'll be charged interest.\n\nYou're not going to be in some kind of major trouble, so don't worry about that.  Just go ahead and file, or contact the IRS and tell them your situation.  If they get your return without a check, they'll contact you to set up a plan to pay.
181534
You should file schdule C for your Ebay business. You first account your sales from ebay, then you account your business expenses: cost to acquire the items for sale, ebay fees, paypal fees, shipping fees, advertisement, auto expenses, home office deduction, telephone expenses, supplies etc. The difference of sales and expense is the net income which is subject both income tax and selfemployed tax. Schedule C is complicated, please seek a qualified tax professional.\n\nZhicheng Lai\nEnrolled Agent
457377
You will need cash.\n\nHowever, you could get a cash advance from your credit card but the fee for that is generally on the order of 3% of the amount obtained plus the cash advance will accrue interest from the day you take it out.\n\nFor a likely a smaller fee you could have Washington Mutual wire transfer the funds to a local bank that would then cut you a cashiers check.
507894
You probably can't pay your rent with a credit card unless he has a deal with your credit card company, as a businessman. Then he would have to take a discount. Ask him if he has an account and will accept it. Or get a cash advance and use the cash.\n\nYes, you can pay with one of those checks that the credit card company looks at as a cash advance. Do you really want to start that and pay the high interest rates that are on those checks for your rent payment? \n\nMaybe a cheaper rental is in order for you, it sounds like you're in trouble here if you have to use a credit card. They are deadly and will bite you in the end (literally!)
527058
It's important to pay your taxes on time, but if you don't the IRS will assess a late payment penalty of 1/2 of 1 percent per month, up to 25% of the amount of unpaid balance, plus interest per month which has ranged between 4% - 9% in the last few years.\n\nhttp://www.irs.gov/businesses/small/article/0,,id=108330,00.html\n\nPenalties and interest apply to years when money is owed.  If you get a refund next year, the IRS will withhold it, and apply it to your balance due.  You can contact the IRS and ask to see your tax account.  They will also send you an account statement showing your current balance owed, if you ask for it. \n\nThe interest charged by a bank or credit card is often lower than what is accruing on your account at the IRS.  It sometimes makes sense to borrow money from another source in order to pay off your balance owed to the IRS. \n\nThe same is generally true for state taxes as well.  Contact the Department of Taxation to see your state income tax account, and to request a statement.\n\nThe overtime you worked bumped you up into a higher tax bracket and increased your percentage owed.  If you couldn't pay your taxes because you had a family emergency, or other reasonable cause, the IRS has the ability to reduce the penalties they've assessed.  You must contact them by calling or writing to your taxpayer advocate listed on your Notice of Tax Due.\n\nhttp://www.irs.gov/individuals/article/0,,id=123423,00.html
76754
Credit Card Convenience Checks are horrible.  Some of the interest rates go into the double digits.  It is the same as a cash advance off your credit card.  if you look at the paperwork that came with the checks, you will be able to see how much interest they are looking to charge.\nThen go to your local banks and find out what line of credit they would extend and at what rate.  Unless your credit history is really bad, you will get a significantly better rate at a bank than you will off a credit card.
60462
For most people in your situation: add up all state taxes paid or withheld during the year, property and real estate taxes paid, interest paid on a mortgage, charitable contributions. If greater than $5,000, itemize.\nMedical expenses are only counted if they exceed 7.5% of your adjusted gross income.  If you make $40,000, then only the amount of medical expenses over $3,000 can be included as an itemized deduction.\nCar and credit card loan interest do not count towards this.\nDo not use the "average itemized deductions" reported by TurboTax and others.  If you do not have documentation for your expenses and you are audited, you will be paying penalties and interest.\nBusiness expenses will NOT affect your itemized deductions.  They are reported on a separate schedule.  However, unreimbursed expenses you pay as an employee can be included as itemized deductions if they are greater than 2% of your adjusted gross income (line 37).
446638
A "charge off" is an accounting procedure.  The creditor has been unable to collect on the debt, so they take it off their books.  By charging off the debt they can get a tax breaks due to the loss.\n\nIt does not mean they are excusing the debt.  They will most likely turn this debt over to a collection agency to continue to try and collect.\n\nOne more bit of info...when a company charges off a debt, they must turn this information over to the IRS.  Your boyfriend will be responsible for the tax "gain".  The creditor is supposed to file a 1099 with the government, and send you a copy.  But many times they don't do this.  When you file your income taxes, it will trigger an audit if you don't declare this income.  \n\nJust something to keep in mind.
495003
Most people fail to hang on to the terms of their credit card agreements (think about it, did you make a copy when you applied for the card) did you read ALL the fine print? \n\nMost credit card companies have long stipulations on the payment terms for your credit card... especially if there is any type of incentive or introductory offer on the card (0% interest, etc).  \n\nPayment is due on the due date (in their office being processed) prior to a cut off time (in most cases 3pm same as the bank). \n\nCredit card companies bank (no pun intended) on you being late or screwing up, because they make a large amount of their monies on fees and punitive interest rates.   Some credit card companies also shift their PO Box addresses by 1 or 2 numbers so that the delay and forwarding will make you late, and they can theirfore charge your out the nose.\n\nI would try and argue the late fee, tell them that you made an effort to get it out in time and would like to get that removed... be prepared to offer something up, such as another payment in order to have the charge removed...\n\n\nalso $90 seems really high... that is a lot to be charged and may exceed what they are legally allowed to charge...
329861
It depends. If you owe the government money, than interest will be charged on the amount that you are required to pay. However, if you are claiming some of your overpaid tax back, than there is no deadline for you to submit at all. The best way to check and make sure your taxes are done right is through some sort of software program. See http://www.quicktax.com. As well, you can find more information on the Canada Revenue Agency's website at http://www.cra-arc.gc.ca.
67387
If this is the first time you're filing your taxes on your own, I'm guessing they're not that complicated. I would use Turbo Tax for the web (for free) if your AGI is under $28.5k. I used it for the past two years (prior to this year) and I find it to be excellent.