Tagged Questions
0
votes
2answers
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 ...
0
votes
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 ...
1
vote
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 ...
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
157 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 ...
1
vote
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. ...
1
vote
1answer
76 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
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 ...
2
votes
2answers
92 views
Starting an Australian company while living abroad?
How can an Australian citizen (or two) set up a company in Australia while living overseas?
Is it possible to pay a professional (e.g. lawyer/accountant) to fulfill the requirements of having "at ...
0
votes
0answers
71 views
Need to know the Tax ID
I'm have a few Android apps and would like to begin to monetize them with TapJoy
When filling in the Payment Information form, one of the fields that should be filled is Tax ID. I'm outside of ...
0
votes
2answers
70 views
Out of State (Oregon) LLC
We were in California for 2.5 days at a trade show in 2010. Our company is an LLC in Oregon. We are required by the show promoter to have a Board of Equailization number, and we pay sales tax to ...
0
votes
1answer
198 views
What is the legal and tax implication of a US company (Texas C Corp) hiring employees directly in India
I am the co-founder/shareholder of a US based software startup (Texas C Corp). Due to some personal reasons I have had to move to India and to make the most of it, I am planning on hiring a few ...
0
votes
1answer
40 views
Incorporating after getting sales?
When I make money as a sole proprietorship then incorporate later, do I have to pay taxes as a sole proprietorship on the money I earned as a sole proprietorship?
0
votes
1answer
23 views
Impact Investment/Tax Questions
I want to take some of the revenue that I generate with the for-profit business I'm starting, and use it to provide start-up social enterprises that I think are interesting with some funding to help ...
1
vote
1answer
180 views
Vesting restricted stock and the 83(b) Election
Is it possible to have a Section 83(b) Election when the only risk of forfeiture of the restricted stock is for unvested shares and there are no repurchase rights for vested shares (ie all vested ...
3
votes
3answers
582 views
Is it legal to pay employees or contractors in bitcoin (artificial e-currency)?
I am from central Europe, and there is really HUGE taxation (about 0,44 on wages, 0,2 on goods, so about 55pct goes to taxation black hole).
I got idea - is it useful scenario to pay my employees by ...
1
vote
2answers
174 views
LLC Tax Laws ::: Groupon Vouchers
TheCompany, LLC is a Groupon type service that offers local business discounts in the form of a redeemable voucher.
I, TheCompany.com will offer a platform that businesses can make "Daily Deal" type ...
8
votes
3answers
500 views
How do minors legally start a business?
I am a fifteen year old Web and iPhone developer. I'm looking to get apps published on the App Store under a business name. So, this leads me to a few questions. (I already have a bought membership).
...
1
vote
1answer
529 views
Is it legal to accept donations as an LLC?
Similar questions have been asked, but I'm still not completely understanding. I have an LLC that sells apparel, and people have offered to give us donations because the idea of our company is to ...
3
votes
2answers
203 views
How to declare income when most/all your income comes from Paypal?
How do I declare my income if all of it comes from paypal ? Most accountants in Portugal (where I live and where this company will be based) don't know how it works... Do I declare it only when I ...
1
vote
2answers
93 views
Legal Requirment for Starting a Business in Austin, TX?
I am starting a business from my home, and will operate it as a sole proprietor. What do I need before I can begin?
The business itself is a computer consulting firm meant to help small-medium ...
2
votes
3answers
171 views
Getting Amazon Affiliate fees in California
Amazon recently announced that it will cease paying affiliate reward to its California associates. As a startup very reliant on affiliate fees, is there any way to get around this?
Background: We ...
1
vote
1answer
136 views
Withholding Requirements
I started an LLC in NY with LegalZoom back in January and have not been paying much attention to the "Withholding Requirements". I don't have employees and I'm not getting paid, do I need to file ...
1
vote
1answer
100 views
1099 required for payment?
I run a small website. I sold $100 of ad space to a local business. They asked me to send them a 1099 so they can set me up in their accounting department. I'm not sure how this works or why I need to ...
2
votes
2answers
124 views
legal requirements to open a service on the web, that requires payment
i'm a newbie in the business world, and i'd like to submit a couple of questions to you.
First, i live in Italy.
Suppose i want to fire up a website, and part of its services are under payment. What ...
4
votes
2answers
825 views
Company formation for a non-resident – Delaware LLC and London LTD
Got a few questions about forming a single member LLC in Delaware or LTD in London. I’m looking into forming a company abroad for an easier way to do business and billing (+ its cheaper) and am ...
9
votes
4answers
301 views
Contractors Vs Employees
As a UK based tech start up working on a social app, what are the pros and cons of hiring contractors on a full time basis to build the app, against hiring the same people as employees?
Edit:
Let me ...
4
votes
1answer
447 views
Is there any tax advantage or incentive to leave money in an LLC at the end of the tax year?
We're forming a 2 person LLC and part of what we're trying to figure out is how much to leave in the LLC to build up some capital reserves.
Since an LLC is a pass through tax entity if the LLC earns ...
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 ...
2
votes
3answers
402 views
What is the process to writeoff startup costs?
From what I understand, I can write off up to $5000 of startup costs from the taxes I pay on my personal income... http://www.morebusiness.com/write-off-startup-costs
Let's say I start a website and ...
4
votes
2answers
1k views
Do I need 1099-MISC forms for someone paid via paypal?
If I pay someone via paypal, do I still have to fill in the 1099 and/or w forms?
4
votes
2answers
142 views
income in paypal
Does income in my paypal account need to be declared for tax purposes, or does it just have to be declared for tax purposes if I transfer my paypal funds to a real bank account?
2
votes
2answers
138 views
Startup without company?
If I have access to a big hall/room in a building I own and I wanted to convert it into a personal gym. Then one day I say to a friend, you can use my gym if you give me $100 a year, and I will give ...
2
votes
2answers
716 views
For a Corporation (S-Corp) that I run out of my home, which expenses can the Corporation pay for?
I've formed an S-Corp in California for a small local business. Like many small business owners I'll be operating the business out of my home.
What expenses can the corporation pay for without ...
0
votes
2answers
138 views
Can I write off the assets of a parent company under a DBA once I have taken the write off under the parent company?
I have formed a DBA to sell products and am using equipment purchased and depreciated by the parent company. I like to take the depreciation to offset income received by the DBA. Is this possible?
3
votes
2answers
195 views
Specific startup tax question and other starting advice
I'm in the process of creating a startup. Right now it's just a series of apps in the iTunes app store but there's a ton more I want to do with it. The apps were made available for sale almost 3 ...
4
votes
4answers
1k views
Where should I set up my global internet business?
Is there a widely recognised 'best place of business' for global social-media style internet businesses, and what are the considerations? Considerations I'm thinking about are taxation, regulation, ...
1
vote
2answers
284 views
Is there a minimum amount of money to become taxable?
Is there such thing as not making enough money to get taxed in NY state? What is that amount?
1
vote
3answers
291 views
What's the legal framework for a US company (Delaware LLC) to hire a full-time remote developer (e.g. India, Sri Lanka)?
We don't need a one-shot collaboration (see elance.com, odesk.com) but a long-term remote developer.
We don't know, legally speaking, how to proceed and which are the needed steps.
Thank you
4
votes
3answers
473 views
Legal restrictions and tax regulations in global ecommerce
Currently, with all the power the Internet provides, it's relatively easy to start online business. There are no obvious restrictions on the process. A business from almost any location can sell ...
1
vote
1answer
403 views
Annoying startup Tax question - I moved, company didn't
I started my LLC in Michigan in 2009, filed the required paperwork, and sent in my tax return for 2009. My company was just myself, and I worked out of my home in Michigan.
After getting married ...
1
vote
5answers
435 views
Umbrella Company
My dad also loved the business plan I had. He has his own company (which is not even close to what I am doing). He registered it as a sole proprietorship. He is an engineer so thats his company. He ...
0
votes
3answers
369 views
deferred sales trust (DST) — guarantee long-term capital gains on entity sale?
Can a deferred sales trust (DST) be used to effectively convert a short-term capital gains entity sale into long-term capital gains income?
For example, suppose I create a small company on 1/1/2011, ...
0
votes
2answers
368 views
example company timeline & determining capital gains basis date
Looking at a hypothetical company timeline (corporation), what is the capital gains tax to shareholders upon entity sale? (aka, how is the basis date computed)?
Start date (1st effort of ...
0
votes
5answers
234 views
What's the most important thing that startups should know about tax (in the US)?
Tax is a strange thing to deal with. What's the most important thing that incorporated startups in the US should know about tax?
3
votes
3answers
810 views
Startup LLC, tax time HELP, anyone?
I registered my company as an LLC last February(2009). Since that time, I've had a lot of expenses, but no revenue because it's not quite completely up and running.
How should I file my taxes now? ...
2
votes
3answers
222 views
Online Startup Location in Regards to Tax?
I understand you can incorporate in other states for legal/tax advantages. Suppose I wanted to stay in-state for now. Can I claim my business is in a nearby city for tax purposes, using a PO Box? The ...
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) ...
4
votes
4answers
535 views
Seed Capital to Live On, Do I Pay Taxes?
I've been working on a startup since Jan. 1, 2009. To keep me alive (physically on a ramen diet) my parents give me $1-$2k per month. My company is set up as an LLC and my parents would like to ...
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 ...
