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matiasmommy
Joined: 12 Mar 2007
Posts: 346
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#1 · Posted: 16 Mar 2007 19:21
Hi All!
I'm wondering if any of you out there are in Utah?
I'm Canadian, so I am at a complete loss!
I have a team member that came in at L3 the very end of december. He pushed it through over Christmas before the New Year so that his business would be operating at a loss in '06. A very smart move, I understand, as many people I know of in Canada and the USA then get a rather substantial tax refund.
Well, he has now filed his taxes and for some reason is told that business and personal taxes are not seperate down there, and because he has maxed out his personal return, he will not get any refund for his business?
This makes NO iota of sense to me, I told him to get another opinion. I understand that Utah is a rather network marketing friendly place, as many MLM type companies base their head offices out there. Usually that is a reflection of favourable tax laws, in my understanding of political goings on up here in Ontario.
I was thinking he would do even better then others I have heard of. Myself, even though I was well into profit before January 1 and having started in September I did not get a refund but I did get a lovely write off from totalling all my fixed costs associated with start up which reduced my total payable. I was actually rather surprised that our government up here really was that gracious!
So.. is Utah just a really odd place, because I know many American folks who have gotten that refund in the first year. My understanding was that everywhere in North America business taxes were completely different then personal? Otherwise, why bother setting up a business!
If anyone knows of any good small business tax attorneys around the Salt Lake area or whichever government office or agency I can point him to to get the right information, I would really appreciate knowing!
Thanks
Jani
L3 Director, CSG
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matiasmommy
Joined: 12 Mar 2007
Posts: 346
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#2 · Posted: 18 Mar 2007 23:11
So no one here is from Utah? Would someone kindly point me to a larger board? I'd really like to speak with someone who lives down there and runs this business so I can help my member get this sorted out!
Thanks
Jani
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roger
Joined: 31 Jan 2007
Posts: 276
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#3 · Posted: 18 Mar 2007 23:57
I'm afraid I don't know anyone from Utah Jani but if you haven't visited this forum, it may be of more help:
http://www.wahm.com/forum/
Roger
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matiasmommy
Joined: 12 Mar 2007
Posts: 346
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#4 · Posted: 19 Mar 2007 09:13
Thanks Roger!
I remember looking at that one a while back, but forgot about it for some reason!
Jani
L3 Director, CSG
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roger
Joined: 31 Jan 2007
Posts: 276
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#5 · Posted: 19 Mar 2007 10:22
You're welcome.
Roger
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