Tax Questions

Entrepreneurs can set up their business as a Sole Proprietorship, C-corporation, S-corporation, partnership, non-profit, Limited Liability Company, or Limited Liability Partnership.

2 Votes
8 Answers
6.41K Views
IRS taxes with 0 revenue in first year

I created a corporation last fall and made no revenues (or expenses) in 2009. I obtained an EIN from the IRS and they asked me to file form 1120 for 2009. What is the best way to do this? is it...

asked Mar 11 '10 at 05:02
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Nicolas K.
111 points

3 Votes
4 Answers
5.96K Views
Paying workers over the internet?

A lot of startups involve not just receiving payment, but also disbursing payment: WOrker crowdsourcing (mechanical turk, crowd flower), code + design outsourcing (Odesk, Elance, crowd spring),...

asked Mar 22 '10 at 02:32
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Joseph Turian
895 points

3 Votes
2 Answers
5.12K 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...

asked Feb 26 '10 at 16:16
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Bill Paetzke
397 points

1 Votes
3 Answers
2.35K Views
LLC Formation in California

I recently submitted paperwork to form a LLC in California. About a week after submitting my paper work, I came across this post: http://answers.google.com/answers/threadview/id/107228.html One...

asked Feb 13 '10 at 05:36
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Aac
85 points

4 Votes
5 Answers
3.14K Views
Tax Accountant or Monthly Bookkeeping?

Given that it is tax time how should you pay an accountant? Do you do your own bookkeeping and just work with a CPA firm to do your taxes or do you have a CPA firm on monthly retainer to make...

asked Jan 12 '10 at 08:43
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User2227
41 points

1 Votes
2 Answers
4.98K Views
Sales tax for artists?

Are artists who create "fine art" (not commercial art) required to collect sales tax if selling directly to customer through website, ebay, local art shows, booth at art show?

asked Jan 18 '10 at 04:08
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User2278
8 points

4 Votes
1 Answers
4.22K Views
What states are the best/worse to have remote employees in?

One of the issues many small companies in the US run into is wanting to hire an employee (who let's say will work from his home) that lives in a different state. I've found that some of the...

asked Dec 23 '09 at 09:31
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Dane
1,866 points

5 Votes
3 Answers
22.7K Views
How can you keep money in an LLC account when it isn't taxed directly?

I know LLCs can be pass-through tax entities, so you don't pay tax at the LLC level but only on the income of each member. Is the money only taxed when used to pay members? Can you keep money in...

asked Dec 8 '09 at 12:39
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George Jenson
108 points

1 Votes
4 Answers
2.73K Views
What do you do for your end of (tax) year extravaganza?

The End-Of-Year is coming up soon, and -- if you were fortunate enough to profit this year and, therefore, owe taxes next year -- that means it's time to spend, spend, spend! What have you done in...

Tax
asked Nov 28 '09 at 07:18
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Alex Papadimoulis
5,901 points

6 Votes
3 Answers
2.8K Views
What are your greatest tax season pain points?

As we think through new features to offer our small business and entrepreneur users, we're looking to the coming tax season as the time of year when most prefer not to have the distractions from...

asked Dec 4 '09 at 12:21
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Paul O'brien
521 points

1 Votes
2 Answers
12.6K Views
Cost-plus structure for international subsidiaries

We have several international subsidiaries setup to serve as sales offices. In setting these up we evaluated whether to set them up as resellers (they purchase the product from us and sell to...

asked Nov 16 '09 at 13:45
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Dane
1,866 points

0 Votes
2 Answers
2.8K Views
How do I engage an international student with a contract?

I'm considering hiring a software developer in Germany. He's a student so he's unlikely to have any type of corporate structure set up. I've had numerous conversations with him online, and we get...

asked Oct 29 '09 at 08:32
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Danpickett
263 points

5 Votes
9 Answers
5.9K 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...

asked Nov 5 '09 at 23:08
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El Presidente
26 points

7 Votes
3 Answers
3.74K 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...

asked Oct 18 '09 at 06:54
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User960
36 points