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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92 views
The correct prefix for a UK UTR?
What's the correct country code/prefix for a UK unique taxpayer reference I should give in an invoice when supplying services overseas? I suppose it's simply UK, but I couldn't find anything about it ...
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2answers
81 views
What's the simplest way to calculate my tax burden?
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 ...
5
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1answer
252 views
Do I have any U.S. Business Activities?
In Apple's iTunes Connect, under Manage Your Tax Information, there is this question:
Do you have any U.S. Business Activities?
In general, you have U.S. Business Activities if you have ...
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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 ...
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2answers
198 views
Using Dubai as a tax haven - US nationals
My friend approached me with a business idea of selling a service to allow US business owners to incorporate in Dubai in order to avoid taxes. She resides in Dubai and owns a business there, and she ...
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2answers
190 views
I'm an English man living in Germany, where should I register my business?
I suppose this question would be useful to anyone who is natively from one country but living in another setting up a business.
I'm an English man currently with a business bank account and sole ...
2
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2answers
306 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 ...
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1answer
102 views
US Citizen Being a Member of a UK LLP?
Suppose a US citizen becomes a member of a UK LLP, along with 2 other foreigners (non-US citizens). Assume each one of the three has a 33.3% share in the UK LLP.
The LLP starts working, and has a ...
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0answers
115 views
Is it illegal for a seller to sell products without offering VAT invoice?
Is it illegal for a seller to sell products without offering VAT invoice? Is it tax evasion? What are the costs for a seller to provide VAT invoice?
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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 ...
2
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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 ...
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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 ...
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2answers
84 views
Does The IRS Think Full-Time S-Corp Shareholders Are Also Employees?
After asking about the taxation of fringe benefits for shareholders in an S Corp, it occurred to me that there could be two types of shareholders. Those who are silently collecting whatever profits ...
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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, ...
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3answers
584 views
Taxation of fringe benefits for shareholders in an S Corp?
In this publication, the IRS lists a number of fringe benefits that you can provide employees and details when/why they would be considered taxable vs. non-taxable. However, at the start of the ...
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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 ...
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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?
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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 ...
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1answer
60 views
purchasing a company
I am looking at purchasing a service business in California that states it makes $160K in revenue and $120K in Net income. What Can I expect to net (estimate) after taxes with a LLC? Is it a 39% tax ...
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1answer
84 views
What Does An Investor Do with Their Money Once an Agreement is Made
Its an easy question, but I am new to this along with my investor. When an agreement has been made to invest in a company, what should happen next with the money?
I would love to know best practices ...
2
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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 ...
0
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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 ...
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1answer
217 views
How to handle the money with a new start up
I know this might be a bit narrow for a question, but I can also see other start ups working on this scenario it self.
We have X amount of money currently sitting in the bank. We just received it ...
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2answers
159 views
Start-up Tax Deductions while on H1B
I have started my own software start-up since Jan 2011 where I was on H1B visa. I am also full-time employee at another company which is independent from my start-up. I got my green card last Feb ...
2
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1answer
154 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 ...
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2answers
349 views
Formula to evaluate the earnings potential when joining a startup
I'm trying to come up with a rough formula to help decide if I should join a startup. I'd like to weigh my current pay vs joining a startup, taking into account opportunity costs and possible final ...
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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 ...
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1answer
95 views
Do I need to charge Tax to my Clients Customers? [duplicate]
Possible Duplicate:
Online Sales Tax: location based on transaction server, shipping address, CC, or location of purchaser?
My company is UK based but many of my clients are based in the ...
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0answers
76 views
Considering selling imported goods through ebay and/or etsy.com How to not get on the bad side of US government?
I hope this question is on topic. I have a plan to make a bit of extra income.
I know a person in Africa (let's keep it this general for now) who can help me import some cheap local non-edible goods ...
3
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2answers
239 views
Charging U.S. sales taxes on product purchased online and sold from foreign location
We are building an online application that will allow users to create and purchase high-quality typographic logos and business cards. The application is taking a while to develop so we've decided to ...
2
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2answers
90 views
Contractor paying subcontractor
If I have a contract with a client, and hire a subcontractor, then submit his/her hours to the client, receive the payment, and then pay that full amount to the subcontractor, do I need to pay taxes ...
7
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4answers
390 views
Tax laws when trading to the US from europe
What are the tax laws regarding sale of a SAAS to US companies when you are UK based? I know you dont have to charge VAT but would you need to file a US tax return or charge US taxes?
2
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1answer
82 views
I filed C-Corp tax returns as S-Corp will this be a problem?
I incorporated an S Corp using legalzoom services but they just created a C corp for me. I filed my tax returns as an S-corp with the IRS and the state. I had no activities with the company. I want to ...
2
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2answers
73 views
Paying sales and use taxes in the state of incorporation for sales outside the state?
I have an LLC that is formed in NC. The LLC sells software online; the software is downloaded through the website. The website is run through GoDaddy, which is in Arizona, I think. The programmer ...
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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.
2
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1answer
67 views
How and when is sales tax calculated when payment is made with a foreign currency?
When the buyer is paying cash, how and when is sales tax calculated when payment is made with a foreign currency?
Guessing it's the same as if the transaction had been paid in currency the tax is ...
5
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6answers
282 views
DIY Payroll Processing?
I have tried (and been rejected by) a few online payroll solutions. As I am about to start (very soon) working with real employees, I need to find a way to do payroll more or less manually (though I ...
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3answers
581 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 ...
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2answers
81 views
Tax law benefits?
I am thinking about starting a small charity to help find and support the "untapped Genius" in everyday people or people that might otherwise just end up in a dead end job or unemployed. The concept ...
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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, ...
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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 ...
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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 ...
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1answer
175 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 ...
3
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1answer
77 views
Tax requirements for non-US contractors?
I work with contractors often, and of course go the W-9 + 1099 route with US-based folks. I'll be hiring a handful of part-time non-US contract developers soon (one in Brazil, one in Switzerland). ...
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1answer
370 views
Converting from an LLC to a C Corp; can we use the same EIN?
When converting from an LLC to a C Corp, can we use the same EIN for the C Corp?
6
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4answers
684 views
Alternative to QuickBooks for a small (1 man) S-Corp? [closed]
I'm currently using a 2009 version of QuickBooks Pro for my S-Corp accounting needs. They recently sent me a letter "suggesting" I upgrade to the 2012 version ($200+) as many of the features of the ...
2
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1answer
120 views
What state do I need to file taxes in for my online business?
We have an online web development business with no true 'physical' address.
We have incorporated in DE, I reside in CA and use my address for the contact information and my partner who is a true ...
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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 ...
2
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1answer
326 views
Does a UK company pay tax in the USA?
I was looking at a previous question on the subject and it mentioned a form 1120-F for foreign corporations.
Does this mean that foreign corporations who do business in the USA must pay US taxes?
...
3
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2answers
213 views
Taxes for a European SAAS startup selling in the US
I'm looking into selling a web application to US customers. Is it necessary to create a US subsidiary such as a Delaware LLC or not? How are taxes worked out? Income tax, sales tax?
I know this is a ...
