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.
1
vote
2answers
794 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
votes
1answer
347 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
votes
2answers
217 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 ...
1
vote
1answer
269 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
212 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 ...
0
votes
1answer
103 views
At what rate are meals and hotels tax deductible for business trips?
I"m going to a conference and wondering if meals and hotels are 100% tax deductible.
My accounting person is pretty sure meals are at 50% deductible and wasn't sure about hotels.
So if I spent $100 ...
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 ...
0
votes
2answers
57 views
How customs and other documents are cleared , while receiving or sending
We have recently planned to launch an eCommerce Store. We have certain products which which we want to ship to the international market too.
But when I choose to ship items individually it cost me a ...
1
vote
1answer
232 views
Accountant or Turbotax 2011 tax filing for new startup?
I'm wondering if I can use Turbotax for my first year taxes on my startup, or should I use an accountant? Here are the details:
I'm a newly formed start-up that I work on in conjunction to my day ...
2
votes
1answer
154 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 ...
1
vote
2answers
144 views
Filing US income taxes for income from working from home for Bahamas-based company
I am a salesman for a Bahamas based domain name registrar and hosting company.
I work out of NY from my home and am a US citizen.
How do I report my income to the IRS?
The company I work for does ...
5
votes
3answers
382 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 ...
3
votes
2answers
210 views
Can I claim back in expenses costs of my uni degree?
I've registered a UK limited company which is going to sell online language courses. Can I claim back in expenses costs of my university degree, if the degree is highly correlated with what my company ...
3
votes
2answers
266 views
VAT and customers outside EU
I've been reading up on VAT as it looks like this year we may need to register.
We are in the UK, and sell digital goods on our website (one piece of software).
As I understand it, if someone buys ...
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 ...
1
vote
5answers
59 views
Managing taxes, quarterly filings - what am I looking for?
I'm not sure what the name of the service or person(s) I'm looking for, so I'm asking here hoping I can find the right thing to search for, and maybe even some recommendations.
We need someone we can ...
0
votes
3answers
190 views
Can I myself have two contracts with my own UK ltd company?
I'm soon going to register a limited company in the UK. I know that any ltd company is a separate entity, and if I want to get paid from the company I'll have to be employed as its director. However, ...
0
votes
2answers
230 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 ...
2
votes
1answer
1k views
What are the tax implications for a US company paying a foreign worker (Australia, Germany, Canada, etc)?
Since there's no way to issue a 1099 (and it would be worthless), what's the correct way to 'pay' a foreign contractor or employee without setting up a company in that country?
From my research, it ...
1
vote
1answer
694 views
Duties & Taxes involved in importing into the US
We are a UK private limited company who export from India direct to our customers in the UK, we are now looking to export from India into the US.
My question is regarding the import duties and taxes ...
0
votes
1answer
262 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
233 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
511 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 ...
0
votes
2answers
247 views
tax question regards to a dependent with a llc
My question is a bit different, actually.
I am a 18 years old who owns a single member llc since last july. The llc had been not making a penny but loosing money for the last months and I expect it ...
1
vote
1answer
70 views
Canadian Selling a Website to British Pub
I've started a freelance web development company. Up to now all my clients have been based in Canada and I have been collecting taxes for the government.
I have been contacted by a Pub in the UK, ...
2
votes
1answer
116 views
How to document transfer pricing policy for IP
In Europe, there is enormous tax differences between high tax and low-tax jurisdictions for holding IP (for example 60% for owners of a "3:12" Swedish company vs 5% for a Luxembourg IP company).
So ...
8
votes
3answers
508 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).
...
0
votes
1answer
326 views
How are domain sales taxed?
Say I bought a domain last summer for $9.99 and sold it later for $50,000, how would that be taxed? Capital Gains? Or something else? Eg, how much of the proceeds should I set aside for Federal, ...
2
votes
2answers
156 views
Freelance work whilst in Full Time employment and Taxes
I am a Software Developer and I live and work for a company in the UK and pay PAYE taxes and NI Contributions through my wages for this jobs salary.
I am looking to start working on a couple of ...
2
votes
2answers
255 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 ...
3
votes
2answers
193 views
UK Taxation: Do you need to pay tax on revenue gathered from advertisements and donations
I have a plan for some software / services that I believe can generate some cash through advertisements, selling 'pro' versions of the application in their respective 'app stores' and through ...
0
votes
1answer
54 views
How to perform payroll before official tax rates are known?
It is now 2012 and apparently the official 2012 tax brackets and rates have not yet been released (Publication 15). (If this is incorrect, please provide a link to the official information - I can't ...
2
votes
2answers
572 views
Business owner, how does he/she get paid?
Business owner, how does he/she get paid?
Withdrawals vs Salary (Guaranteed payments)
I've been thinking of registering a Ltd company (UK) as I'm a freelancer; and want limited liability. Also to ...
0
votes
1answer
148 views
Avoiding income tax on worldwide sales - The double Irish?
Does anyone know more about the "Double Irish" Structure to avoid paying income tax for worldwide profits. 100% of the revenues of my company are made oversees. I export physical products oversees. I ...
1
vote
1answer
61 views
What year to payments to subcontractors count, for tax purposes?
In what year do payments to subcontactors count, for tax purposes? For example if I don't make the payment until after Jan 1 but the money was earned the previous year, which tax year does that count ...
5
votes
3answers
182 views
Does using Fulfilment by Amazon in a different country makes you liable to charge local sales tax in the country?
My business is in Canada. I sell goods online that I ship by mail. I would like to use a fulfilment center in the UK to lower the cost of shopping for my european sales. Do I become liable for local ...
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
128 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 ...
2
votes
2answers
533 views
Tax implications for a US based bank account held by an Indian residing in India
I am in talks with various international banks in India who're ready to provide us a US based bank account provided we meet their minimum balance requirements in a local bank.
A US based account will ...
1
vote
3answers
126 views
US company want to send a German citizen that has visa and work permit for US to work from Germany- -how is the taxation
we have the following complicated issue:
US based company
has an employee who is German citizen but lately lived in the US with a US Visa and work permit and hired at the US company
company wants ...
1
vote
3answers
89 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
129 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
532 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?
1
vote
1answer
67 views
Can any one explain the taxes and costs for starting up as a LLC?
If I register as a LLC in Delaware and set up a Virtual Office in India, how will I be taxed?
What are the kind of taxes that I will see?
Is it better to start a C type single member Corporation? or ...
2
votes
1answer
211 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
552 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 ...
2
votes
2answers
70 views
How Indian Laws and taxation applies to European company representative traveling within and abroad?
If I were to be employed by a European company to represent them in India to develop the market, what taxes and laws will apply? Secondly, how will the expenses made within the country and travel ...
4
votes
1answer
78 views
Authorizing family to purchase supplies for my sole-proprietorship
I've registered myself as a sole-proprietor business in Ontario, Canada.
My common-law partner often helps me with organization and other tasks. I want her to be legally able to purchase supplies ...
3
votes
2answers
83 views
Not going to earn from it(for now) - Do I need to create a company?
I am launching a used book buy/selling platform website for students where they can buy/sell from each other (direct buy/sell no commissions to the website).
I don't have ads on my websites as of ...
