Tagged Questions
1
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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 ...
0
votes
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 ...
0
votes
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
vote
1answer
59 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 ...
1
vote
1answer
40 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 ...
1
vote
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 ...
1
vote
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, ...
1
vote
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
votes
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
votes
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 ...
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.
1
vote
1answer
58 views
Arizona LLC with managers from California
My client who is domiciled in California formed an LLC in Arizona - he is also a member manager. The business is in Arizona, and all transactions are in Arizona. I know since the member manager is ...
0
votes
2answers
677 views
Tax haven in Delaware with a single-member LLC formed by a non-resident alien?
While I'm researching what I need to pay in taxes for my LLC formed in Delaware (I'm a non-resident alien from China), I found this page which is very interesting: ...
1
vote
1answer
91 views
Transferring inventory into LLC
Formed LLC, but wonder how to account for inventory I've already purchased and will now sell via the company.
I've been re-selling as a hobby, and now converting to a business.
I'm in the US. No ...
0
votes
1answer
147 views
Actual tax rate for self employment with LLC
There seem to be a ton of LLC related questions and I've been through most of them but I don't see anything that answers my question directly.
Right now I'm on a 1099 and it was suggested that I get ...
1
vote
1answer
90 views
Ballpark figure on one-time tax accountant fees
I've registered an LLC in the US as a foreigner. Registration was no problem, but I find the specific tax laws and regulations difficult, especially because it's hard to find clear information on what ...
1
vote
3answers
448 views
LLC vs S Corp for a new business?
I am starting a new business in California and can't decide whether it should be an LLC or S Corp or an LLC as a S Corp. It would be a single person LLC or S Corp (no other shareholders or ...
2
votes
2answers
305 views
Sole Member LLC Tax Advice
This sort of falls into personal finance and money but also has a lot to do with business so I am asking the question here.
I have just recently started a LLC of which I am the sole member. I am ...
1
vote
3answers
124 views
Do I need to worry about estimated taxes if I hold a full time job?
Let's say I expect to generate $500/month of steady income from my side company (single member LLC). I work FT during the day and taxes are paid accordingly. Do I need to worry about estimated taxes, ...
1
vote
2answers
145 views
Changing from self employed to an LLC
At the moment I work self employed as a web developer creating websites.
One such website has become fairly popular and I'm considering adding trademarks etc, is it possible/straightforward to switch ...
1
vote
1answer
1k views
How to “pay” one self in a single member LLC w/ separate checking account?
I own a side company creating web apps. I formed an LLC, registered an EIN and opened a business checking account. Recently, I sold a copy of my software for let's say $10,000. Now, since everything ...
2
votes
2answers
1k views
Filling out a W9 as a Single Member LLC
I previously operated my consulting business as a sole proprietor operating under my own name, using my SSN on W9 forms, etc. I have since registered an LLC and am starting to bring in clients. I have ...
2
votes
1answer
153 views
Software E-Commerce/E-Business Foreign Entity LLC and License and Tax requirements
I am wanting to startup a software, app, games business conducted through the internet.
I am in Missouri, the state where I plan to do work from.
I did research and found that Delaware or Nevada would ...
0
votes
2answers
276 views
LLC no money earned
We registered an LLC company. The company has not made any money, do I still need to pay the California state tax?
PLease let me know.
1
vote
1answer
205 views
Need to include expenses you paid yourself on an LLC's tax return?
I may have made a goof here and want to fix any problems.
I formed an LLC in 2010. In 2010 and early 2011, I paid the LLC's expenses out of my own bank account, using my own checks, and I had no ...
1
vote
3answers
1k views
Didn't file LLC tax return for first calendar year, but no income/outflow
I formed an LLC 18 months ago, in 2010. Nothing happened in 2010- it didn't issue equity; it didn't have any income; and it didn't have any expenses (other than formation expenses, which I paid ...
0
votes
1answer
174 views
File your LLC's tax return before your own?
I am one of 2 members of an LLC that I started. The LLC had no income in its first year-only a small loss. I'm reflecting my share of the loss, as on my K-1, on the my own tax return.
If I file my ...
1
vote
2answers
773 views
Forming an LLC-living in CA, related permits, tax treatment
My scenario: I currently reside in CA. However, I will be locating to the state of Washington by the end of 2012. I (no other employees) am starting a 100% online service-based company, which will be ...
1
vote
1answer
263 views
LLC profit/loss distribution in case of mid year ownership change
I understand that profit/loss is distributed among the LLC owners according to their ownership stakes.
What about if profit/loss if the ownership stakes change? Say for example, there are 3 owners, ...
2
votes
2answers
207 views
I formed an LLC on November last yr and dissolved it on December, should I report this LLC to IRS?
I formed a Delaware LLC on November last year, and soon I found that the c-corp is more suitable for my situation, so I decided to dissolve this LLC, it has been dissolved on December last year ...
2
votes
1answer
151 views
Tax obligations of foreign operations for a US LLC
I live in a country where corruption and bureaucracy are widespread. Opening a business takes months and costs a lot of money, and will require one to hire somebody solely for handling all ...
5
votes
3answers
372 views
Selling assets of my company, can I treat as capital gains tax at 15%?
I've been approached by people wanting to buy the assets (not stock) of my company (single member llc) which consist primarily of
my mobile app
its source code
the server code that supports the app ...
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 ...
0
votes
2answers
228 views
A start up with 10k award, formed LLC, now how to pay my tax
I have a start up that received 10k award from a business competition. I formed LLC to start my business, now my question is how can I minimize my tax reliability.
1) Should I state in my return ...
0
votes
1answer
259 views
How to tax deduct Home Office in an LLC with multiple members?
I have an LLC with multiple partners (members) that work from home. We're a tech startup company. We each work from home, and want to take advantage of the home office tax deduction. Is this possible? ...
1
vote
3answers
229 views
Are you taxed on revenue or income?
As a single owner of an LLC, are you required to pay taxes on the LLC's profit or revenue?
1
vote
1answer
495 views
Taxes on non US-resident LLC owner?
I am working on launching an online product site and registering it as an LLC in Delaware. I am a non-US resident and will get the company registered through LegalZoom.com or Incorporate.com. It would ...
2
votes
2answers
249 views
Tax implications of giving out prizes/raffles for my startup customers
I've ran a few contests / giveaways on my site for new customers. So far I've given away a color nook, 2 rounds of golf, and 2 ski lift tickets. Just some stuff to get people more active in the site.
...
1
vote
1answer
138 views
How should I account for the financial losses by my LLC?
All the investment to my company now is my time and skill. But I do have to pay out of my own pocket for elance, cloud computing, etc. These, based on my understanding, would be counted as "loss" of ...
4
votes
1answer
5k views
How To Transfer Money Between Personal & LLC Bank Accounts
I'm starting a very small business out of my home in Texas. I've formed the LLC and opened a bank account for it.
How should I handle putting my own money into the business account so I can avoid ...
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
3answers
88 views
Utilizing revenue in an LLC as an investment, not income in a new year
We are currently in the month of December and have about $10K (all revenue - all expenses) in our LLC's account. We plan to use this to invest on a project early next year. Unfortunately, it is not ...
1
vote
1answer
525 views
LLC Tax Filing - No Income
I am a member of a three-person LLC company. We have only been registered for about four months. Do I need to file tax returns for the LLC if there was absolutely no income, only expenses?
2
votes
1answer
204 views
Taking a Paycheck from LLC
I recently created an LLC and was curious to how I should take a paycheck from the business account. Up until this point, I haven't taken a paycheck and will need to soon. The business has a bank ...
1
vote
1answer
525 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
925 views
California taxes for single-member LLC: did I get them right?
After reading and reading about taxes, I think I've grasped which taxes I should pay and when to pay them. Still, it'd be really great if someone could confirm I have it right. I will appreciate any ...
12
votes
5answers
566 views
Sole Proprietorship vs LLC
From what I read there are two basic types of business recommended for a single person business (in the US):
Sole Proprietorship
LLC
My wife is looking to start a business for blogging/selling ...
1
vote
1answer
131 views
Taxes for DE LLC
I am based in Texas but my company is registered as an LLC in Delaware. If I sell subscriptions to web-based software tools (SAAS) do I need need to collect taxes and for which state?
2
votes
1answer
171 views
When do we need to become an official company?
So I'm starting a new venture with a friend of mine. Basically, we are not going to be looking for seed funding, or really any funding for that matter. We are going to be up fronting the costs to our ...
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 ...
