Questions tagged [small-business]
Questions specific to small businesses, generally under 100 employees and revenues less than $1,000,000.
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Sole proprietorship business name and personal info privacy
I'm going to start selling things online (mostly just uploading designs to POD places), and in order to avoid putting my SSN into half a dozen sites, I want to get an EIN. I know that I can get one ...
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Can I claim the equipment cost as expenditure of my (small) business?
I am using freetaxUSA, but I am not seeing the result that I want, or maybe I am misunderstanding something.
I want to claim the cost of my GoPro as my business expense for my YouTube channel. I also ...
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How to clarify to the irs that I hired contractors on upwork so I don't need to file 1099s?
I definitely spent more than $600 hiring contractors for my small business, but they were all hired on Upwork and Fiverr, freelancing platforms. Because I never paid my freelancers directly, I do not ...
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Forming an LLC to reduce personal income
I'm working as a contractor for a couple people though I haven't formally formed my own business yet.
Is it possible to reduce my personal income tax while having the money go to the business?
Ex: I ...
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Is it better to get a resale certificate or register an LLC in CA?
I would like to sell my 3D printed items on Amazon, Etsy, eBay, Shopify, etc. I recently discovered that I can avoid paying taxes when purchasing raw materials or business equipment by obtaining a ...
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How to make a high amount of money on your computer fast and legally? [closed]
Hello Money StackExchange Community,
I hope this message finds you all well. I'm here to seek your advice and insights. I've seen how incredibly savvy many of you are when it comes to innovative ...
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Homeowner's insurance and alleged business misconduct
In the US homeowner's insurance usually also covers liability for unintentional acts, such as knocking over a vase in someone else's home. Suppose someone is accused of an act that would be a business ...
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Filing a UK Company Tax return for 22/23- is it possible to bring back a trading loss from 23/24?
Whilst filing my UK company tax return for the financial year covering 22/23 in the section 'Trading losses', under 'Bring back a loss from a later period' is states the following:
You can only bring ...
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Why is the UK Corporation tax payment deadline before the company tax return filing deadline?
I've returned to contracting (as a software engineer) after 8 years of full time employment and am now working through my own LTD company.
I mistakenly thought - as is the case with self assessment - ...
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Outsourcing projects: is there a threshold on how much I can deduct from taxes (IRS)?
Suppose that:
I have a $10000 project. I subcontract the entire project to a subcontractor and pays that person $9999. This means my net gain (or profit) is $1.
If I submit that info to the IRS when ...
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Contribution from personal checking account to Solo 401k as Single-Member LLC
I have Single-Member LLC (file as a sole proprietor). Should I make contributions (Employee deferrals, Employee after-tax contributions, Employer contributions) to a solo 401k from my business ...
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Setting up a limited company and appointing spouse as director for tax purposes
I am a programmer registered as a sole trader in UK, and I have around 40k GBP of annual income from my self employment. Apart from that, I also have a permanent job working for a UK employer, where ...
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Fees associated with credit card payments for small businesses
I once went to a deli in Boston, and when I attempted to pay with a credit card, they said that the process will cost them almost 10% of the entire sale. This was curious to me since I had always ...
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Minimizing tax liability in business purchase w/ personal loan from other partner
I'm purchasing an existing business with a business partner. They're in a better position than I am regarding liquid assets. I've got most of my assets in positions where I'd be paying high short term ...
user12007
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When you sell a business. Is it a long-term or short-term capital gains tax?
Let's say I start my own small business selling hot dog stands on Jan 01, 2023, and sell it three months later for $50,000. Would my $50,000 be subject to long-term or short-term capital gains tax?
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