Hi,   We started a business in 2007, capitalized by liquidating a retirement annuity that wasn`t performing.  Because we liquidated a retirement annuity it was added to our day-job income, resulting in a higher taxation, but because we took the section 179 depreciation our tax we ended up owing $135.   However we used Turbo Tax home and business to prepare our taxes and our business took a loss in 2007 because we had $245 of income and over $33k of startup deprecia...

Bravo, TaxMama!  I really like your style as well as the attitude you have toward addressing, educating, and assisting small business owners. My business relies heavily on self-education in order to give my clients the very best I can and it`s awesome to see the same mentality elsewhere. I`m a huge advocate for small business growth so I make sure my clients reap the benefits of my resources.  Otherwise I wouldn`t be here! Thanks for the post.

Joining Joel is a lot of fun. You must get him to interview you about your business, too. He just makes you feel so totally at home. What did I say I`d do with the money? I`d hire some of the best tax pros in the world (who are already my good friends) to staff a phone line to answers members tax questions for free. [Right now, it`s just me, answering questions by e-mail each day. With tax pros chiming in with comments and suggestions when some of the questions are pub...