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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9 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. ...
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?
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2answers
134 views
Should I register my C Corp in Delaware if I live in Virginia and I'm doing business in Virginia?
I called a CPA in Virginia and he told me it's better to create your C corp in Delaware, because their tax system is so flexible that you don't need to pay for state tax. Is that true? And is it Ok if ...
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5answers
647 views
Choosing between a California corporation and a NY corporation
Are there any advantages to establishing a corporation in California as opposed to NY? The minimum taxes ($800) every year that need to be paid in California is a bit of a turn off. Are there any good ...
4
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3answers
256 views
How do I choose an accountant for my small business?
I want to register a small work from home business and do yearly audits. I have found a tax consultant and we exchanged more than dozen emails. After I asked him about where he got his certification ...
6
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4answers
683 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 ...
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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 ...
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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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2answers
407 views
Gross profit royalties vs non-voting equity
I began work with a small startup last year, working as a consultant. Consulting didn't last long because I saw great potential in the company and made it clear I wanted to be a part of it.
I ended ...
1
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2answers
772 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 ...
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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 ...
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2answers
110 views
Deducting expenses from income for sole proprietorship
A quick tax question for NY/USA.
Say an online shop sends me a 5k check in my name and not under a corporation, to order 300 glass cups.
And I'm sort of the middle man and I will be using 4k that I ...
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2answers
77 views
Apportioning annual expenses across multiple tax years
My wife is starting an architecture business as a sole proprietor. One significant expense is insurance.
Suppose that she pays $10,000 for insurance now that covers the period Nov. 1, 2012 to ...
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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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2answers
91 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 ...
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0answers
24 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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1answer
58 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
660 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: ...
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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
48 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 ...
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1answer
59 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
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
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
197 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 ...
3
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2answers
204 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
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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
47 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 ...
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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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2answers
1k views
Avoiding complicated EU VAT rules for SaaS company
I am in the UK and am in the process of setting up a SaaS product which people will be able to purchase online by monthly subscription.
I have been researching the VAT rules for supply of electronic ...
7
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1answer
153 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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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 ...
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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 ...
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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 ...
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3answers
167 views
Online sales and startup
What is the best way to go about getting more profit and paying less tax when it comes to selling something strictly online?
Say I have a dual citizenship, to Canada and Mexico. And I do all my work ...
2
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1answer
275 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:
...
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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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2answers
42 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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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 ...
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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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2answers
96 views
File Income Tax on Founder's Stock
Do I need to file an income tax return (as I just co-founded a company and filed the 83(b) election on the stocks I was issued). I do not have any other monetary income. I do not plan of managing this ...
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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 ...
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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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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 ...
