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.

1 Votes
2 Answers
2.51K Views
Switching from a partnership to an LLC

I started my company as a General Partnership - partly to avoid fees while still ramping up, and partly because I wasn't foreseeing large revenue in the intial year. Time went by, and now I need...

asked Nov 6 '10 at 09:49
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Traveling Tech Guy
155 points

5 Votes
1 Answers
6.18K Views
Is it possible to delay customer invoices to the next financial year so I can save tax?

I'm operating a startup in its 1st year. This year's sales from consulting services is very good but the pipeline for next financial year is very very weak. My question is, legally, can I delay...

asked Oct 10 '10 at 06:43
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User4737
26 points

3 Votes
1 Answers
3.28K Views
Tax implications for buying out my LLP partner?

I am buying out my co-founder of our 3 year old company that we started as a hobby/second job. We are profitable (although you definitely couldn't live off the profits alone!). Anyway, we've...

asked Oct 13 '10 at 02:38
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Pete
116 points

1 Votes
3 Answers
4.27K Views
Can an LLP be formed as a wholly owned subsidiary of a UK company?

I'm currently researching how to go about creating a US subsidiary of a UK company. One of the people involved in the business wondered if it would be possible to use an LLP to do business in the...

asked Oct 20 '10 at 11:20
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Brian
28 points

1 Votes
2 Answers
2.46K Views
Are California customers obliged to withhold 7% of their payment due to Cali law?

One of our customers recently informed us of the following: "In accordance with the California Franchise Tax Board, Publication 1017 and Revenue and Taxation Code Section 18662, we are required...

Tax
asked Oct 22 '10 at 02:57
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Michael Pryor
2,250 points

4 Votes
3 Answers
3.35K Views
Legal restrictions and tax regulations in global ecommerce

Currently, with all the power the Internet provides, it's relatively easy to start online business. There are no obvious restrictions on the process. A business from almost any location can sell...

asked Sep 25 '10 at 18:32
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Rem
352 points

4 Votes
4 Answers
3.46K Views
Becoming a freelancer: where to start? (Taxes, registration, income/expenses...)

Not sure if this is the right site for freelancers, but becoming a freelancer is kinda a one-man start-up. Anyway, my question would be, where to start. I only have a technical education and I...

asked Sep 27 '10 at 07:47
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Znq
164 points

5 Votes
2 Answers
3K Views
Form a company outside of the US?

This is definitely a different flavor of a common question. Here are the basic stats: Online only startup -- no physical presence. Everyone works from home. We have 8 people in 4 countries (5 in...

asked Oct 4 '10 at 06:15
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User4625
26 points

5 Votes
2 Answers
2.9K Views
should I form a 1-man LLC?

I am a student and do freelance programming work to pay the bills until I graduate and maybe even after. I live in Kansas but I do freelance work across state lines (in Missouri currently) Is it...

asked Oct 6 '10 at 05:50
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Schwiz
126 points

5 Votes
3 Answers
4.24K Views
c-corp tech startup with expenses but no income - worth getting a bank account and accounting services for writeoffs?

I recently formed a c-corp and am looking for outside investment very soon. I'm paying out of pocket for startup expenses (office lease, office equipment, software licenses, etc). I will spend...

asked Oct 7 '10 at 02:07
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User4683
28 points

1 Votes
5 Answers
3.38K Views
Umbrella Company

My dad also loved the business plan I had. He has his own company (which is not even close to what I am doing). He registered it as a sole proprietorship. He is an engineer so thats his company. He...

asked Aug 28 '10 at 10:27
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Bhargav Patel
784 points

1 Votes
2 Answers
3.03K Views
Do I need to collect Tax IDs from website users that I'm paying via paypal on an incentive basis?

Hi I have users that are submitting content that can be rated by the community. The top users, based on the popularity of their contributions, accumulate points in their account that (for now at...

asked Sep 24 '10 at 00:16
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Marc
113 points

1 Votes
3 Answers
3.68K Views
Charge sales tax for a service provided by independent contractor in another state?

So I have a sales tax question. Yes, I will be contacting an attorney, but I figured I should do some research before spending $$$. Here is a situation. A company based in state A (office +...

asked Jul 17 '10 at 12:13
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Apollo Sinkevicius
3,323 points

4 Votes
3 Answers
4.07K 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...

Tax
asked Jun 11 '10 at 04:37
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Dane
1,866 points

2 Votes
2 Answers
2.14K Views
UK budget changes June 2010 - move from umbrella to startup own company?

I've been freelancing as a software engineer for a couple of years using an umbrella company. At the time I started, the consensus was that it wasn't worth the effort setting up your own company....

asked Jun 24 '10 at 09:01
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Pete Kirkham
111 points

0 Votes
4 Answers
3.22K Views
What's the most important thing that startups should know about tax (in the US)?

Tax is a strange thing to deal with. What's the most important thing that incorporated startups in the US should know about tax?

asked May 20 '10 at 04:07
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Mark Bao
604 points

3 Votes
2 Answers
4.04K Views
What are the differences of offering Incentive Stock Options or Non-qualified Stock Options to Employees?

I remember at one point a startup will switch from offering ISO (Incentive Stock Options) to offering Non-qualified Stock Options (NSO) to employees? Can the startup decide which to offer, and...

asked Apr 25 '10 at 00:34
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J Lynch
16 points

3 Votes
2 Answers
5.78K 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?

asked May 11 '10 at 20:13
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Jpartogi
1,342 points

3 Votes
5 Answers
3.21K 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...

asked Apr 3 '10 at 18:44
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Vnchopra
418 points

9 Votes
3 Answers
13.9K 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)?

asked Apr 20 '10 at 06:49
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Robert
80 points