I'm looking at starting an online game, with revenue coming in through the purchase of in-game bonuses. I've got a team of four people, counting myself, working on setting it up, and it should be ready in a few months.
Sometime between now and then, I'll have to set up a company to manage the business aspects of it. I'm thinking of registering as an LLC in Washington State, because that's where I live.
One of the main responsibilities of the company will be to handle the finances. And of course, money flowing in and out means taxes. This is something I know very little about, but I'd really prefer not to have to hire an accountant until such time as things grow complicated enough to need one.
What I do need is a way of answering two fairly straightforward questions:
1.) If we make X dollars in sales, how much of that do we keep, and where do I send the rest of it to?
2.) If I have X dollars to pay out to one of the team members, how much of it do I send to them, and where do I send the rest of it to?
2a.) I'm the only one in Washington state. One of them is in another state, and the other two are in other countries. What are the effects and complications of this on 2?
It's hard not to be aware of a myriad of tax-preparation programs for doing your personal income tax return. But I don't see too many ads for the small business side of things. Ideally I'd like a program that makes it as simple as the questions above: I give it a number and get numbers and destinations back.
Can anyone recommend a reputable program for working this out?