Tax is a levy on the profits of your business, and can include federal corporate tax, individual tax, sales tax, payroll tax, and their state tax counterparts. Knowing a bit about tax will help you to choose the correct corporate structure and better run your business.
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38 views
Question About C-Corp, Shareholder, and Officer
Person A wants to start a C-Corp in California operating a news website. He is wondering if the following form is legal?
A is the only Shareholder and the only Director owning 100% equity.
A will ...
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0answers
10 views
Does a US Vendor (with subsidiary in the UK) who sells to a UK customer need their VAT number
We are a US based company with a subsidiary in the UK. If our US company is selling directly to a customer in the UK, are we required to get their VAT number?
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0answers
23 views
US Company, tax offshore holdings to shareholders [closed]
in this scenario I have a US C-corp registered in California.
I do business worldwide through a variety of subsidiaries and have amassed a large amount of holdings outside of the united states. ...
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0answers
29 views
Tax rebates when you start your startup firm [closed]
I am off-shoring my development work to another country (I live in USA) for the time being. I was wondering, next year when I will be filing my taxes, what tax exceptions will I get from Uncle Sam?
...
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0answers
25 views
which taxes my USA subsidiary will be subjected to, if any
i need a professional advice on the following situation:
we are a Poland company, we want to open a subsidiary in the USA. The purpose is to buy goods from American company, and then export these to ...
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0answers
25 views
Online payment processor that takes care of charging the appropriate taxes for me? [closed]
I am planning to set up a small business that will charge customers a recurring monthly fee for an online service that I will be providing.
Unfortunately, it appears I will run into the "tax ...
3
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2answers
112 views
If all the employees are non-salaried founders, do we need to send out W2's?
We founded a C-Corp in fall 2012. None of us are taking a salary and there are no salaried employees. Do we need to send out W2's?
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1answer
46 views
LLC C-corp in US, how to report my own investment
I'm a single member LLC with C-corp taxes in the US, and I just started my entity in January. I'm trying to figure out how/if I report my own capital injections for expenses as regards my taxes. I ...
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1answer
50 views
How do payroll taxes work? [closed]
This may sound like a very naive question for a site on Startups, but...how do payroll taxes work?
From what I can tell from doing database work at a company they seem to consist of percentages of ...
2
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2answers
45 views
How can I keep aware of tax changes?
Just found out that the city we're in raised the sales tax again, the second time this year. Since we didn't know about the change, we've been charging our customers the lower rate for some time now.
...
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1answer
21 views
1099 requirements for customers in middleman-type business
Note: I WILL be seeking information from a lawyer or accountant if I proceed but I want preliminary info here first.
I am considering a business that, for sake of example, is much like Guru.com or ...
6
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3answers
200 views
Is a 50/50 equity split without 50/50 control a doable and wise thing?
I've found a great partner for my second tech startup, and want to structure this one better than the first, which made money but eventually got ugly due to poor choices my younger self made along the ...
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1answer
32 views
How difficult (or how does one) apply for R&D Tax Credits (USA) for software development (new product)?
We are developing a new web-based product.
Looking for feedback from people who have applied for such tax credits.
What are the steps to applying for an R&D Tax Credit?
How difficult was it is ...
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1answer
48 views
How do I dissolve a C Corp?
I haven't used my C Corp, paid any taxes, or done the minutes. I haven't made a dollar or used the corp in any form. It was just a mistake opening the C Corp. I'm scared I have to pay the taxes from ...
1
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1answer
62 views
Whether Elance Income already Tax Deducted
I have an account in Elance. The money i have earned, directly transferred to my bank account [India]. My question is, the money i earned, are they already tax deducted or do i have to pay tax ...
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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 ...
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0answers
10 views
I am non resident alien and want to get I - T - I - N
I am non resident alien and want to get I - T - I - N . I am launching e commerce website and want to register this website as L - L - C business in USA . As per my little research , I got point that ...
7
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1answer
156 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 ...
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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 ...
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2answers
69 views
Most suitable US state to start Internet/online business [closed]
I have read somewhere on interent that Texas is most business friendly US state. Can some one guide me is it true that Texas is most friendly for totally internet/online based business and they have ...
1
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1answer
61 views
TIN to use on W9 when Single Member LLC/Disregarded entity
I own a state-classified LLC company and also have an EIN for the business, which was filed on an SS-4 form (Rev. December 2001) as a Type "Other" and noted "disregarded entity". On the SS-4 form the ...
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2answers
43 views
EIN after conversion from LLC to c-corp
We converted (created new entity then merged) from an LLC to a c-corp. The new c-corp has a different EIN than the LLC.
Do we need to notify/update our employees, clients and vendors about the new ...
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2answers
53 views
Starting a DE LLC, tax implications for a non US resident
This question might have been asked before however I guess I read too much everywhere and now I am confused. I really need the right advice which I could not find online or I still have not been able ...
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1answer
41 views
LLC Sub-contracting money and tax question
Essentially, I started an LLC about 6 months ago. I have worked pretty closely with another developer, but so far have yet to pay him. We are developing a product right now and I have agreed to give ...
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1answer
43 views
Dissolving an LLC in New York
This is a general question about dissolving an LLC in New York. I just want to make sure I go through the appropriate steps to have the company legally dissolved. This might not seem particularly ...
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1answer
37 views
LLC Pass Through Income Taxation
I'm working for a client who is doing business as a LLC in CA. He represents merchants by advertising them on certain websites. His commission is taken out from the sales received from the websites, ...
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1answer
55 views
Single-member LLC and filling out tax forms for advertisers who pay me
I have accounts with various advertisers and affiliate companies - let's just say Amazon Affiliates for the purposes of this discussion - and I've now registered a single-member LLC.
During the ...
2
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1answer
277 views
What do I need to do to maintain an LLC's limited liability protection?
I do freelance work on the side, and I've been meaning/needing to create an LLC for a while now. I've talked to some friends, and they mentioned somethings that I was not aware of. A couple examples:
...
2
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2answers
113 views
Ownership without investment. Help
I started work at a company a few months back. I was brought in to head up a new division in the company. That division is separating as it's own LLC. I won't be investing any money into the new ...
2
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3answers
117 views
Advice on the need for a foreign subsidiary
We'd like to startup a company that is seen as a UK company and be governed by UK laws, including Privacy laws. However, all of our operations, management and control will reside in Canada at least ...
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2answers
97 views
Do I need to pay tax on shares earned?
I am working on a project in my spare time with a friend. The project has the potential to make money in the future.
We want to run the project democratically and non-hierarchically. We have decided ...
0
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3answers
83 views
Do I need to report income
I am not receiving tax form (1099K) from Paypal because I didn't generate 20,000 of sales. This means that Paypal did not report those yearnings to IRS. Does that mean that I shouldn't count those ...
2
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1answer
75 views
Tax implications of an overseas business running a Kickstarter campaign via a US or UK person's account
If an overseas business runs a Kickstarter campaign via a US or UK person's account, does anyone know what the tax implications would be for a US resident? Does anyone know what the tax implications ...
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1answer
53 views
Does Delaware based c-corp selling apps funded by non-US residents have to pay US income taxes?
I want to incorporate startup selling only apps in Delaware as a c-corporation. All of the funders are US non-residents. As we will not be selling any material goods in US, will our corporation have ...
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2answers
42 views
Calculating mileage for reimbursement
My wife is starting as a dance instructor while working at a regular job. Her studio space requires that she drive a fair distance to and from the house, and I have a couple of questions on how to ...
1
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2answers
115 views
Does a US employer need to pay any taxes for a non-US freelancer hired online?
We own an International Web Development company and get hired from all over the globe. We need to know if one of our US clients, needs to pay taxes for hiring us.
They paid us $750.00USD via PayPal. ...
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1answer
22 views
S-Corporation Filing an extension with profits
So, you have a S-Corporation with profits, there's an ownership dispute with a court date in May, after the filing date of March 15th.
Should the S-Corporation file an extension? So normally, ...
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1answer
67 views
Can I deduct mileage from my home office if the IRS doesn't recognize it as one?
I have an office in my home which is my only base of business operations. However, it's not exclusively used for business purposes. (As a freelance software developer, the line between work and play ...
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2answers
168 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 ...
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2answers
99 views
Expat looking to create a Tech Startup
I am considering starting a Tech focused startup. I am married to a German and currently live in Germany but I am a US citizen. I am wondering where is the best place to register a new company, if ...
3
votes
2answers
90 views
Acquiring Tax ID Number
We just got filed as an official LLC in CT and were wondering how we get our Tax ID number(EIN). We would like to open a bank account for the company and assume we need that to open one.
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1answer
36 views
How do I reflect my own investment in my C-corp for tax purposes?
I have a C-Corp I began, incorporated in 2012. To bootstrap the business, I've invested $30K of my own funds into the business, and now as the calendar year (and fiscal calendar) draws to a close, I ...
3
votes
2answers
142 views
Accounting method for software business
I'm nearly complete and preparing to launch my business. However, I've noticed that taxes aren't as simple as everyone makes them out to be. I'm mostly confused about cash vs accrual accounting for my ...
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0answers
34 views
Reselling US digital products from UK. VAT / tax question
I am a UK resident w/ UK ltd company which is looking to market digital products e.g ebooks, video courses, software and newsletters for example.
Most vendors and customers would be based in the US.
...
1
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1answer
49 views
Shipping goods from India to Texas
I am starting a clothing business and have a manufacturer in Mumbai, India. Do I pay and Indian tax and/or a US tax for importing/exporting?
THANKS
0
votes
1answer
44 views
How to dissolve an LLC and transfer assets?
I just moved states. From what I'm reading online, I have a few options, but the one I've decided to go with is to dissolve my LLC in the old state, and form a sole-proprietorship in the new one to ...
1
vote
2answers
71 views
Hiring people in multiple European countries and payroll taxes
Suppose I have a company that's incorporated in France and that I want to hire a few sales people in several European countries to help sell my Saas subscription. Do I need to incorporate a subsidiary ...
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 ...
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1answer
178 views
S corp distribution income tax rate
I am the sole owner of an S corp and I am the only employee. If I make $100,000/year and I pay myself $50,000 as a salary and the other $50,000 as distribution. How much income tax do I have to pay on ...
0
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1answer
38 views
Can my online sellers avoid applying for EIN if I pay the tax on their sales
I have an online Fashion catalog and I want to recruit lady college students as retailers.
I provide them with an online shop (under their name), So if the lady student's name is Debbie, She can name ...
