I'm planning on starting both a nonprofit and a business (LLC or C-Corp) before the end of summer, and I'm uncertain as to my ability to write off expenses. Each would be run with a small (<5) group of investors/friends. [more inside]
NameFilter: Looking for a name for a small tax accounting firm that is marketing itself primarily towards artists and other creative types. [more inside]
A local politician has an unpaid $500,000 tax bill associated with a business he owns. I'd like to find out more details on this. [more inside]
I'm working on a few apps and I'd like to form an LLC. What complicates matters is that I plan to travel the world for the next few years, meaning that all my work will be done from my laptop with no stable office and no employees other than myself. I'm currently based in California. What are some good resources to help me figure out the best way to establish my business, both financially and legally? [more inside]
I would like to begin to sell my paintings at local art fairs and online sites such as Etsy, $25-100.00 price range. Do I really need to set up an LLC or sole proprietorship, get a tax number and whatever else just to sell a painting or two (if I'm lucky?) Thanks. P.S. I live in Illinois.
Can you write off renovations to your home on your taxes for a home based business if you don't own or rent the residence? [more inside]
What is the catch here. Business creating a seperate LLC for company cars. [more inside]
In business - Is it true that if you pay sales tax on your materials you do not have to charge to your customers? [more inside]
Can I take a business loss if I sell my business and the buyer doesn't pay? [more inside]
I am opening an electronics repair shop in PA, I will be repairing cell phones, video games, and computers. Do I collect sales tax? [more inside]
My best friend is the largest client of my business. He would like me to purchase a car for his use through my company. Is this a terrible situation for me and how should I handle it? [more inside]
I need a tax id so I can open a bank account for my band in Michigan. [more inside]
Do higher rates of taxation for high-earners kill entrepreneurial spirit? [more inside]
Can you point me to a simple online tax guide for small businesses? [more inside]
blogging as a business and taxes - it can't be so difficult! Or can it? The Plan - spouse and I want to start a travel blog (we love to travel and are *good* at it!) as a business. You know, run some google ads, make a little money. Actually, if we make enough to cover our travel, we'll be happy (until the eventual greed kicks in). Soooo... if we're going to make more than $600 here in America, the IRS is going to want it's share. But two can play at that game! We want to take all the deductions we can (home office, website costs and, of course, our travel). It will just be the two of us, no employees. But therein lies the confusion... [more inside]
What is the difference between a Master of Business License and a LLC in Washington State? Which one would be more appropriate for a freelance artist/product designer/jeweler to have? I need to have a Tax ID number for my business, is that the same as a UBI number? Thanks!
Starting a small, part-time, home-based eBay business in New York. What are the implications of registering for a Sale & Use Tax certificate? [more inside]
Any word if the IRS will rate the 2008 mileage rate because of the rapid increase in gas prices? [more inside]
I'm going to register my company as an LLC. My next question is where? Which US state is the best for this? [more inside]
I'm planning to do some on-the-side freelance photography in the next year. I'd like some advice on how to play the tax game most effectively. [more inside]
Los Angeles is hitting me for a big chunk of money for business taxes... this despite the fact that I am a public employee. [more inside]
Registering for the GST in Australia for a small consulting job; do we have to? What if we don't? [more inside]
LLC, S-corp or continue as a sole proprietor? [more inside]
Tax planning advice for the self employed. The web is full of articles, the bookstores are full of guides. But there is so much "get rich quick" and "pay zero taxes" crap out there that I am not sure where to go for good, solid tax planning advice. [more inside]
Why do companies incorporate in DE, and have we done something incorrect by doing so when our primary place of business is NY? [more inside]
TaxFilter: My wife and I have drastically different incomes. She made about $45K this year and I only made about $15K, mostly from freelance gigs, so no taxes were paid. Should we file jointly or married but filing separately? [more inside]
How do I "incorporate under my business" for the purpose of deducting health care costs from my income as a self-employed person? [more inside]
Can I start a LLC (or similar) who's only business is to manage investments and reinvest any gains? What are the tax implications? [more inside]
UK: I've thought of a way to earn a little pocket money. Will the taxman be bothered? [more inside]
I'm a Canadian who has very recently bought a pre-owned computer for a business I'm starting. Can I claim it in the upcoming income tax? Should I have registered the business first, and then make the necessary purchases? What is the deadline for claiming small business expenses on income tax anyway?
In 2001, my .com finally imploded in the week after September 11th, when our few remaining clients went out of business. For another couple of years the corporation continued to exist, with me as sole employee, though it was only an after-hours interest -- I've long since moved on from doing anything with this corporation. It's existed only on paper for the past two years while I've paid the IRS, out of my own pocket, some payroll taxes (941 withholdings) that my accounting errors led me to underpay. They (and I) have just noticed that I forgot to file for the Q3 2001. It seems that I paid $6,000 to employees in that final quarter, so I figure my business owes the IRS another couple of thousand dollars in taxes. Now what? I don't have a couple of thousand dollars to throw at this, and the corporation's bank account is all but empty. Can I bargain with the IRS? Will they give me any bonus points for coming forward and telling them about this? Is my moral obligation to personally pay this debt sufficient that I should just buck up and set up a payment plan? What happens if, worst case, I just shut down the corporation? [more inside]
If one has a business that is registered as an LLC (with no partners-- just the one person) and if: the business location (office) is in one state, the owner lives in another state and most of the business (or clients) are in a third state in which state is state income tax due-- where the office is, the owner's residence or where the clients are?
Ecommerce filter: Here at work we are attempting to understand/define the default business rules for taxation calculations within an ecommerce app. Specifically we are all tied up in knots over the application of rates, reporting issues, etc. Is there an industry standard for handling this aspect of a transaction? Who defines the standards, and how can I find out more about it?
I am thinking of starting a very small business, but I have a few questions for those of you who have done so before I really make up my mind wheter to go forward or not. [More Inside] [more inside]