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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3answers
5k views
Simple Overview of LLC Pass Through Taxation
I understand that an LLC filed as a Partnership to use Pass Through taxation is not required to pay quarterly taxes. In this scenario, the owners pay taxes on the dividends received.
But how does ...
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3answers
1k views
Online Sales Tax: location based on transaction server, shipping address, CC, or location of purchaser?
Online sales tax seems overly complicated. From what I've read, it seems like most states collect sales tax if your company has a physical presence; however, location on both ends is badly defined:
...
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1answer
401 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 ...
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2answers
2k views
Do we get taxed if we don't generate any profits?
All,
If I have an LLC, but during the financial year we haven't generated any profits yet, do we still get taxed? Does the law differ for each states in the US?
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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
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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, ...
9
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3answers
7k views
How many times a year do LLC's have to file taxes?
If I start an LLC where I am the only owner, do I only have to file taxes once a year (without getting penalties of course)?
6
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2answers
3k views
Taxes for Android / iPhone developers?
I'm an Android developer, but this question is pretty much the same for an iPhone dev.
I'm based in the USA, and I'm looking for any tips regarding taxes for app sales. Since apps sell in over 30-90 ...
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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 ...
0
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1answer
87 views
Tax services for an almost non-existant corp
I founded an s-corp with a couple of friends in the early part of 2010 that hasn't shipped a product nor made a dollar yet (and likely won't ever). Unfortunately, I'm really not in the financial ...
12
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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 ...
4
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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 ...
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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 ...
4
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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 ...
4
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1answer
446 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 ...
2
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2answers
735 views
I am starting a global e-commerce business - what are the benefits of registering in a tax haven?
Which tax havens would you recommend for this and why? When should we register - early on or once we are earning a certain amount?
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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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3answers
1k views
When shipping software where and when do you need to charge tax?
One of the questions we have whenever we ship our software to a new state is whether we need to charge sales tax. This get more complicated because some states charge tax on perpetual software but ...
3
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2answers
259 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 ...
3
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3answers
398 views
Where should I incorporate as an American expatriate?
I am a U.S. citizen who is about to move to Mexico for the next 2-4 years. Following that, I expect to move to Italy more or less permanently. So my question is, is there any advantage/disadvantage to ...
2
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1answer
1k views
What are the tax consequences for Kickstarter earnings?
so kickstarter FAQ mentions the tax considerations (and lack of) for BACKERS, but what about for the person you contributed to
For instance, take a project like OUYA all funds went to Boxer8 Inc. ...
3
votes
3answers
564 views
International tax on digital products for a US company
I'm a developer in the US (Maryland) with an LLC and an application that I would like to sell through my website, delivered via download. I do not intend to ship physical goods of any sort, my ...
3
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5answers
645 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 ...
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4answers
815 views
[UK Contracting] how much to put aside after being paid?
I'm a new UK contractor, and I've just had my first payment and was wondering how much I should put aside and how I go about actually transferring the cash from my business account to my account.
...
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1answer
122 views
Incorporated in US but expenses in another country?
I'm forming a US C corporation in Delaware. Paid the service fees to a lawyer and everything's ready to be filed.
My goals are very simple as:
Having a US presence for user credibility,
Opening a ...
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1answer
61 views
Tax deduction for imported IT goods and services
I have a partner in California and I own an IT Company outside USA with license to export.
I'm planning a scenario where I export software we've developed and my partner import it into usa and resell ...
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3answers
583 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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1answer
213 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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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
492 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 ...
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2answers
53 views
Is the Secretary of State the general office, state to state, for registering a company?
All varying acronyms of incorporation aside, what exceptions (i.e. particular states) are there to the assumption that from state to state, if I need to register my company (for whatever particular ...
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1answer
70 views
How to define US income on international sales?
I'm from Guatemala and i own a company here with license to export.
Two days ago I ask another question here:
Tax deduction for imported IT goods and services and @littleadv has given me a very ...
