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Monday, September 5th, 2005
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4:54a
Okay...I've had my total little stress out, and I'm feeling better....just downloaded every piece of tax information required for the U.S. tax department. You know, I don't care what anyone say's but it does get confusing, especially when you work out why it is your paying taxes in the first place, which really boils down to keeping someone else's business afloat, now you can agree with that or disagree with it, which I'm sure you will, either way, it gets confusing when I know I'm going to be paying income tax, but should be able to make a claim on it based on business expenses.....So that's actually what I need to work out...Other than that, well the amount of money I'm actually earning at the moment, in the U.S. is below the taxable income threshold, so really I don't even need to put in a tax return.....other than to make a claim on any tax withholding from sales of Internet subscriptions...should they arise once we go public...
So with that considered I'll say right now after I get these forms off this week, Tuesday actually, again it's a 4-6 week wait for the IRS Tax file number, but at the moment, I can see no reason why we shouldn't get one, other than the Tax Department not playing fair...because I have gone over this documents with a fine tooth comb and although there appears to be a catch 22 situation, e.g. The hosting company requiring the tax number for exemption for withholding income (which we are entitled to) due to the fact we're not getting paid a regular fixed income and because we are effectively connected with the business income, (e.g. the work we do produces the income), the tax department require a tax return for supplying one and as you can see, you can't have one without the other...
So Go Figure how it's going to turn out..however, it's now something I don't have to think about for another 4-6 weeks and it's back to promoting Lipcrack in anticipation..
and well if we don't get...we're still building our reputation....
..Following that...well I think I might give H&R Block a call to determine if they have the expertise to take over the management of accounts, at the moment they seem the only accounting company that's not getting done for Tax Fraud...so who know's ??, but I'll give them the Lipcrack run down of requirements.
That is news today....now I can finally move on from that dump shit piece of pus paperwork.....that's what I'm thinking...but it's not quite what I'd say to you.
current mood:  aggravated (comment on this)
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