Gerald Celente predicts bank holidays ’09 IMT
Archive for June, 2010
Just because you work at home does not mean you are not subject to the same taxes as any other business venture. The difference is that because you do work at home, its much easier to hide the income than that of a brick and mortar business. On the other hand, the time will come that you will be caught if you do not operate your business on the level.
What makes it so easy is that companies are not required to provide a 1099 unless they pay you at least $650 in a year and if you are a freelancer who works for a variety of people, you may not make that amount with just one client. If no one is sending a 1099 that means you have to keep track of your own income as well as expenses.
There is a certain income level where you are required to file a quarterly tax return, so you want to make sure that you make yourself aware of that so that you do not incur a penalty for not filing it. You also have to file your state taxes as well based upon your state of residency. Other taxes that may be involved include gross receipts taxes, local taxes such as city and other municipalities and sales tax in most states.
It is advisable to enlist the services of a tax accountant or tax advisor in order to be certain that you are filing all of the tax forms that you are legally required to file.
Other taxes you may have to pay yourself as a sole business owner includes social security and medicare taxes. Although you are not required by law to pay these since you do not have employees.
If you desire to make use of these services when you retire, you will need to make the contributions yourself. That means you will need to pay both the employer and employee percentage of the taxes. You can, however, choose to simply invest in an IRA Plan. If you had a 401K or an IRA when you were working, you can take the money and roll it over so that you do not have to pay taxes on the distribution.
Since you are now self employed, if you do not open your own retirement account, you will have nothing when you are ready to retire unless your spouse has social security income into which he or she pays. You may also want to have a tax attorney in case anything should happen with your taxes and you find the IRS calling you for an audit. Businesses are more likely than individuals to be audited and its in your best interest to have an attorney with you.
Nagaland is the only state where the Official language is ENGLISH. This itself for motivation enough for me to plan a visit to Nagaland. The entry point by road, air or rail happens to be Dimapur, which located on the border of Assam. Innerline permits have to be obtained to visit Nagaland. They can be obtained from Delhi, Kolkatta, Gauhati, Shillong, & Dimapur for 10 days. Dogs are delicacies of the Naga tribe. Some dogs are bred specially for their meat like their Chinese counterparts. Liquor is subsidized due to excise and state tax rebates. This to an extent helped to quell rebellion among the tribes against Visitors. One can find some locals do seek money from visitors for WATER ( meaning Liquour ) Just keep a 50 or 100 bucks handly, one does not get any poorer after spending 1000s to visit this exotic land. I was taken by surprise by local snatching my Metal electronic pen at Dimapur commissioners office. He returned to find out how the electronic display works, I showed him how to manipulate and make it work. He was extremely happy to learn the technique, one last look at his possession and he returned it with Thanks. Battle of KOHIMA When you go home, Tell them of us and Say, For their Tomorrow, We gave our Today The above Epitaph is credited to John Maxwell Edmond ( 1875-1958 ) which has become world famous as Kohima Epitaph, which was inspired by Greek philosopher Simonides. It was almost the final offensive by the Japs to invade India from April 4th to 22 nd …
Neil Cavuto (Fox News) talks to Mike Cutler (former Special Agent for the US Immigration and Naturalization Service (INS), predecessor to the current US Immigration and Customs Enforcement (ICE)), and Jason Mrochek (Co-founder of FIRE Coalition). Cutler reveals that currently there are fewer than 3000 ICE agents assigned to interior enforcement (enforcing immigration laws inside the US in areas outside of designated border areas) whom have to deal with 20 million illegal aliens. Few illegal immigrants are ever apprehended. Some claim enforcement will not work, however the authorities have made little effort and only created an illusion of enforcement. Mrochek discusses WeHireAliens.com, a website that allows individuals to report and expose employers who illegally hire illegal aliens. Information submitted on the website is reported to federal authorities (such as ICE, the FBI and the Social Security Administration) and state tax authorities. Information about illegal hiring at IFCO Systems was reported to authorities by WeHireAliens.com, and posted on the website, prior to federal immigration raids at IFCO facilities in April, 2006. [Almost 1200 illegal immigrants and 7 managers at IFCO Systems were arrested as part of a national crackdown -- see www.usatoday.com ] [The WeHireAliens.com website (a project of FIRE Coalition) allows individuals to report employers of illegal labor to the appropriate law enforcement agencies. Information from these reports is also made …
Australia Minister: Resolving Mining Tax Uncertainty Is Key
Australia Minister: Resolving Mining Tax Uncertainty Is Key
Read more on FOX Business
Alex welcomes back to the show Gerald Celente, the trend forecaster, publisher of the Trends Journal, business consultant and author who makes predictions about the global financial markets and other events of historical importance. Celente accurately predicted the 1987 stock market crash and the fall of the Soviet Union. In 2008, he forecasted revolution in America, food riots and tax rebellions within four years. www.trendsresearch.com prisonplanet.tv
Anti-tax advocate served with subpoena
DENVER — Colorado Attorney General John Suthers finally got his man. Suthers’ spokesman Mike Saccone said Tuesday that process servers finally located anti-tax activist Douglas Bruce and served him with a subpoena after trying more than 30 times.
Read more on The Washington DC Examiner