last year, a friend and i started an LLC in california. we made a couple of mobile apps which we sell through apple, google, amazon, etc. shortly after that, i co-founded another startup, which has kept me very busy - too busy to think about paying taxes for my LLC. obviously, i'm a bit behind schedule here. i need help.
i've spent a few hours reading everything i could find about paying taxes on mobile app revenue, and how it applies to california LLCs. i found a lot of confusing and contradictory information. i could find no comprehensive, authoritative guide to paying taxes on mobile apps. most of the advice out there is written by people who are not tax experts. they seem to be just guessing. i don't want guesses, i want facts.
does anyone have a comprehensive, authoritative guide to paying taxes on mobile app revenue for both iOS and android and for US based companies? if not, can you perhaps recommend a tax professional that can help me? i'm wary of using just any old tax prep service, because i'm afraid they'll have no experience with mobile app developers. i would want someone who really knows what they're doing. thanks.
most of the advice out there is written by people who are not taxGood. Here's a thought - Why don't you go to a tax expert then?
experts. they seem to be just guessing. i don't want guesses, i want
does anyone have a comprehensive, authoritative guide to paying taxesLLC is a partnership (in your case), a disregarded (but reporting!) entity. You're the one paying taxes, personally. The fact that its "mobile app revenue" is not really relevant to anything.
on mobile app revenue for both iOS and android and for US based companies?
You should get a properly licensed tax adviser (A California licensed CPA or EA) to give you a tax advice. You're right not to rely on amateur opinions, you're wrong to continue soliciting those instead of going to a properly licensed professional.
Don't forget, California LLC pays a LLC fee based on the gross income, in addition to the income tax on the net income that you'll pay on your personal tax returns. The minimum LLC fee is $800, and it should have been paid by mid-April for 2013.
By the way, have you submitted those? Without mentioning the LLC? That might be interpreted as tax fraud by the FTB and the IRS. An "innocent mistake" like that can be very costly. You have to remember that knowingly report incorrect information on your 1040 and 540 is perjury, a criminal offence.