New answers tagged tax
0
So, first of all, if A is a director, recognize that he will be involved in the business -- the board can delegate day-to-day decision making to the officers, but the board is ultimately responsible for the company's actions.
Secondly, you're mixing up some C- corp and S- corp ideas. In an S-corp, the IRS does not want owners coming along and saying "I ...
0
I'm not a lawyer and not a tax professional, do verify everything with a licensed attorney and a CPA in California.
1 - A is the only Shareholder and the only Director owning 100% equity.
Fine,
2 - A will only be a passive investor who does not participate in the operations of the business at all.
Fine (as long as its a C corp).
3 - A ...
0
This is a bit of a long reach ... but with the crowd-funding act now passed and SEC working on guidelines, perhaps you may consider using the social web to leverage your philothranpic activities. I'll toss an idea at you ... social-goals which in essence separates targetting from funding and implementation. Despite its flaws, one of the major structures of ...
0
OK, breaking down the question into its components
Assets + Expenses = Equity + Revenue + Liability
and gross profits is Revenue-Expenses and you get X% but only for 10 years. Since equity is by definition Assets-Liability - Profit the question is whether the profit is retained (goes into the asset column) or paid out as dividends (apportioned to equity). ...
0
You really need to speak to an accountant regarding this, as it may vary depending on where you are located.
In the UK, you are entitled to claim mileage when travelling on 'work journeys', regardless of whether you are a staff employee or self employed.
According to HMRC:
Which Journeys are 'work journeys'?
Work Journeys:
Journeys that you ...
0
Tax depts usually have very precise rules on claimable expenses and calculation thereof. This should be the type of information your accountant should know (and very country specific). As for working from home, again there are often detailed rules like space expressly set aside, ratio of floor space, fittings/furnishings. But if travel is part of the work ...
0
A director has significant legal obligations. They need not be shareholder (that's the owner) but under corporate law play a significant part in governance and are responsible for ensuring the company is solvent. I seriously do not recommend asking a casual mate or neighbour to be director. It is possible to ask a professional firm to be nominee and even ...
Top 50 recent answers are included
