Tagged Questions

0
votes
1answer
25 views

Can a non-profit entity form a for-profit small business?

Can a non-profit organization with federal tax exempt under section 501(c) form a child commercial company? Of course, the small business is not the main theme of the mother company, just a ...
7
votes
1answer
153 views

Which country to incorporate web startup in?

If we have a web startup originally targetting users from country A, but the majority of users end up to be from America, is it sufficient to have the company incorporated in country A? Additionally ...
0
votes
1answer
22 views

Paying Delaware franchise even if filed after the end of accounting year

Ok so this is somewhat urgent since the Delaware franchise tax is due in a day, but right as I was about to pay I had a question: Do I need to pay any franchise taxes this year even though I ...
0
votes
2answers
162 views

Will I REALLY save on taxes by incorporating offshore?

I'm about to launch a product and need to register a company (in order to handle payments for my product, and get a merchant account). I'll give specific information on my own situation below, but my ...
3
votes
2answers
134 views

Non-US Citizen Corporation

I'm not-US citizen that want to incorporate C-Corp. My company should based on advertisements as primary income. I will fly to US in order to open US bank account. I'm not intend to hiring permanent ...
1
vote
1answer
73 views

Tax Year & Incorporation Question

My partner & I just won $30,000 in a business plan competition. We haven't incorporated yet (and therefore haven't cashed the check). We plan on spending all the money to get the business ...
1
vote
1answer
122 views

Incorporated in US but expenses in another country?

I'm forming a US C corporation in Delaware. Paid the service fees to a lawyer and everything's ready to be filed. My goals are very simple as: Having a US presence for user credibility, Opening a ...
1
vote
1answer
108 views

Reasons not to start as an S corporation for a small professional services firm

My understanding is that an S corporation is the easiest for a new firm, and can always be changed to a C corporation later. What are the reasons not to do it this way? The firm under consideration ...
1
vote
2answers
73 views

are there tax benefit considerations when choosing a fiscal year end for a canadian corporation?

For a canadian corporation, is there any tax considerations for choosing a specific date for the fiscal year end? (for example, is it different to end the year in April vs December in terms of tax ...
0
votes
2answers
133 views

Should I register my C Corp in Delaware if I live in Virginia and I'm doing business in Virginia?

I called a CPA in Virginia and he told me it's better to create your C corp in Delaware, because their tax system is so flexible that you don't need to pay for state tax. Is that true? And is it Ok if ...
2
votes
1answer
84 views

What is the best way for a foreign individual to incorporate in US to use payment services?

My business model is subscription based therefore I need to use a payment service that is practical for this purpose. Unfortunately, as far as I researched, such services are only available to US ...
0
votes
1answer
103 views

What is the best way to prepare and e-file Form 1120

I own a US C coporation and i've linked a checking account to it with an EIN. I'm a freelancer and I've received some payments for my services through Google checkout & Paypal, The total amount ...
-1
votes
1answer
95 views

Foreign Outside USA, Incorporated, now what? (taxes and income)

Can someone describe me how I should pay taxes being foreign, any basic guide? If I can't perceive any salary, how do I make money as a shareholder (not american)? More details: I'm in Mexico. Well, ...
0
votes
1answer
63 views

Tax help for a c corp [duplicate]

Possible Duplicate: Tax services for an almost non-existant corp Im a first time entrepreneur and need some help filing the tax return for my c corp as my budget is very limited for hiring ...
2
votes
2answers
127 views

does anybody know of a non-us country with low cost of incorporation

so from what I've seen the US offers quite low incorporation cost (it appears that you can form an LLC just by a few hundred dollars) my question is, is there any other country that satisfy these ...
1
vote
1answer
128 views

Incorporate C corp in US for a purpose of distribution / reseller

My company in Hong Kong is selling handphone accessories. We also have an online store. Because we have increasing customers in US, we are thinking to incorporate a company in US. This is to minimized ...
1
vote
1answer
239 views

Do you pay self-employment taxes as an S-Corp?

I worked as a consultent for a number of years, just doing regular old programming gigs. While I was doing this I did my taxes as a sole-proprietorship. I had to pay marginal tax and self-employment ...
4
votes
1answer
214 views

Foreigner opening online store in the USA

I'm from Europe, don't plan to move to the USA I will open an ONLINE store ONLY (no physical stores) Goods will be imported from Europe Shipping will be handled by the fulfillment company I am ...
0
votes
2answers
316 views

Started S Corp in 2010 but did not make any money til now

I started an S corp April 2010 but the project was put on hold. We didn't file the 1120S or 2253 that were due 3/15/2011. This month we are starting to work on a project which will start to bring ...
1
vote
2answers
287 views

Can I start a company in India while working in the USA on an H1B?

Can I start an internet-based company in India, while working in the USA on an H1B visa? Will I be able to incorporate in India and pay taxes? Is it allowed? What are my options?
0
votes
2answers
183 views

Most tax beneficial way to incorporate as a contractor

I am currently contracting as a software engineer on a W2, and I am thinking of incorporating. Which is the most tax beneficial way, an LLC, sole proprietorship, S-Corp? Keep in mind that at this ...
2
votes
5answers
1k views

LLC or S-corp for a 2 person California consulting company

My business partner and I currently work as independent contractors in California writing software and have decided to turn it into a real company. Ownership will be 50/50. All revenue will come from ...
4
votes
3answers
326 views

Did you incorporate in Delaware and get surprised by the minimum annual franchise tax this year?

Looks like the DE Franchise Tax Board & SecState changed the minimum authorized shares tax - a lot of companies that incorporated this past year may have been unaware of this change or not sure ...
4
votes
3answers
533 views

Why incorporate in the US? What about Bermuda and other tax-advantageous countries?

Basically, why should one incorporate in the US? I'm interested in three cases: 1 - Most of the revenue and employees are in the US. 2 - Most of the employees are in the US, but the revenues come ...
1
vote
2answers
150 views

Registration of a company in Hong Kong

I have a business in Hangzhou, China. What advantages are there to registering a company in Hong Kong? What are the disadvantages? Will a company identity in Hong Kong incur a lot of costs? Is it ...
4
votes
2answers
133 views

Consulting while bootstrapping. How to organise company?

I'm a developer who has just sorted out part time consultancy work which I would like to use to maintain myself while bootstrapping a SAAS startup as a solo (for now) founder. Given that I'd like to ...
1
vote
1answer
175 views

How are corporate taxes handled for an Internet-based business if owners live in multiple states?

Two friends and I are creating an ecommerce site. I live in VA, while the other two are in NY. If we incorporate in VA and then register in NY as a foreign corporation, how are corporate taxes ...
2
votes
1answer
123 views

Virtual corporations, state registration and taxation

This question seems to have been beat up on this site, but I can't find a direct answer. If I have an internet business incorporated in Delaware that sells software online, and I personally live in ...
3
votes
3answers
398 views

Where should I incorporate as an American expatriate?

I am a U.S. citizen who is about to move to Mexico for the next 2-4 years. Following that, I expect to move to Italy more or less permanently. So my question is, is there any advantage/disadvantage to ...
6
votes
1answer
886 views

C Corp vs LLC Taxes

I'm trying to figure out the various taxes taken out for a C Corp vs LLC. Single-member/ shareholder. (C Corp has more deductions.) C Corp: (1) Tax on profit (after deductions), (2) Payroll tax ...
0
votes
1answer
87 views

Tax services for an almost non-existant corp

I founded an s-corp with a couple of friends in the early part of 2010 that hasn't shipped a product nor made a dollar yet (and likely won't ever). Unfortunately, I'm really not in the financial ...
5
votes
3answers
2k views

Should we convert our LLC to a C-Corp?

We've reached a point where we need either hard capital or strategic hire capital and as an LLC it seems like it is much harder to grant capital (either immediately or in a vesting process). Also, ...
0
votes
1answer
122 views

What are the annual operating costs (franchise tax, etc.) for a foreign corporation operating in Nevada?

I have a Delaware corporation operating in Nevada. What are the annual fees/costs associated with operating in Nevada?
1
vote
2answers
53 views

Is the Secretary of State the general office, state to state, for registering a company?

All varying acronyms of incorporation aside, what exceptions (i.e. particular states) are there to the assumption that from state to state, if I need to register my company (for whatever particular ...
5
votes
3answers
1k views

c-corp tech startup with expenses but no income - worth getting a bank account and accounting services for writeoffs?

I recently formed a c-corp and am looking for outside investment very soon. I'm paying out of pocket for startup expenses (office lease, office equipment, software licenses, etc). I will spend about ...
0
votes
2answers
135 views

How to minimize income taxes prior to incorporation?

I currently have a few payroll payments that I need to make on behalf of my company. The company isn't incorporated yet, but I do plan on incorporating it within the next few weeks. The payments are ...
2
votes
9answers
3k views

IRS taxes with 0 revenue in first year

I created a corporation last fall and made no revenues (or expenses) in 2009. I obtained an EIN from the IRS and they asked me to file form 1120 for 2009. What is the best way to do this? is it ...
2
votes
2answers
311 views

will my FEIN change if I switch my california LLC to a NON PROFIT?

will my FEIN change if I switch my california LLC to a NON PROFIT organization?
3
votes
4answers
2k views

What does it entail to form LLC in Nevada, if I live outside Nevada?

What does it entail to form LLC in Nevada if I live outside Nevada? I would like to benefit from Nevada's tax/business-friendly laws. I would be the sole founder a software business. The product(s) ...
1
vote
3answers
271 views

LLC Formation in California

I recently submitted paperwork to form a LLC in California. About a week after submitting my paper work, I came across this post: http://answers.google.com/answers/threadview/id/107228.html One ...
5
votes
9answers
2k views

Are LLC and “S Corporation” the same thing? What are the differences?

From what I have read, both LLCs and S-Corps give you the benefits of a Corporation for legal purposes while avoiding double taxation. However, I can't determine what the difference between the two ...