All Questions
Tagged with small-business california
17
questions
10
votes
5
answers
3k
views
Is there any way to form an anonymous General Partnership?
Update: When I say anonymous, I don't necessarily mean from the IRS (although that would be ideal). I mean anonymous from the general public. I don't want anyone to be able to look up my real name and ...
0
votes
1
answer
71
views
Should I file two Schedule C when I hire employees?
According to the IRS, sole proprietor must apply for EIN the moment he hires first employee and must use this EIN for tax purposes.
How Schedule C(s) should be filed if first employee is hired on June ...
- 709
0
votes
1
answer
109
views
Are employers who got their PPP loan on a later date better off than those who got it early?
My understanding is that
payroll expenses that would be eligible for PPP loan forgiveness must be incurred immediately within the next 8 weeks when PPP funds appeared in the employer's bank account. ...
- 709
3
votes
2
answers
1k
views
Can owning a side business reduce the amount of taxes I pay from my full-time job in the US?
I'm a Canadian on TN status working in California. I've got a good paying job at a tech company and I'm looking for ways to reduce the amount of taxes that I will pay.
I'd like to start a small ...
- 667
1
vote
1
answer
90
views
Does a newly formed company need to pay the California Franchise Tax Fee for its first year?
I've been recently told by an accounting professional, as well as by an owner of multiple businesses here in California, that a new company formed in California doesn't actually have to pay the ...
- 187
1
vote
2
answers
2k
views
If a company is registered in Florida but does business in California, does it need to register and pay California taxes?
In the following scenario does the company need to register, declare, or pay taxes within California?
Company (LLC) registered in Florida with a single active member (other
members are non-...
- 11
3
votes
0
answers
181
views
Risks of initiating Voluntary Classification Settlement Program?
I just found that it is illegal for Employer to give form 1099 to workers who could potentially be classified as Employees. Also, Employer can end up being punished with imprisonment and/or heavy ...
- 31
9
votes
1
answer
1k
views
Am I required by law to have cash register for my small business (California)?
We have a Point of Sales terminal to handle all credit card transactions. The credit card processor company sends us 1099K form that we use for tax purposes. This works fine for our small beauty salon....
- 637
2
votes
1
answer
126
views
How to chose EA or CPA to represent me in FTB audit (small business)?
I am considering to hire a EA or CPA to represent my small business during FTB audit. So what exactly to look for when hiring someone that would represent you in FTB case?
Some criteria that comes ...
- 637
2
votes
1
answer
107
views
FTB sent refund check for 2011 during audit; Does this really mean that whole audit is over for 2011?
Our business was under audit by FTB for Tax Year 2011. Few months ago we sent them corrected Tax return for Tax Year 2011. And, finally, yesterday we received check with refund. The refund is less ...
- 637
2
votes
1
answer
199
views
Forgot to issue 1099-MISC form. Will FTB (or IRS) take away my business tax deductions?
I recently found out that as a business owner I had to issue form 1099-MISC to independent contractors, like, plumber who once fixed sink in our salon. Also, apparently I had to issue 1099-MISC ...
- 637
0
votes
1
answer
72
views
How to find a business consultant that would ensure that all your business activities are legal and compliant with all regulations?
I have been helping a friend of mine who is owner of a small Beauty Salon. In the last year I have been helping her with so many legal-related things that it is taking too much of my time and I want ...
- 637
2
votes
1
answer
323
views
Forgot to renew Fictitious Name application within the county. What is the penalty for late filing?
I just found out that, if you are doing business in California and the name of the business does not include your last name, then you have to file Fictitious Name Statement. My friend did this almost ...
- 637
10
votes
3
answers
1k
views
How high should I set my KickStarter funding goal in order to have $35,000 left over?
I'm creating a KickStarter to raise enough funds to take 3 months off from my full-time job and finish an iOS game that I've been working on for about 3 years now. Put simply, all I need is about $35,...
- 203
7
votes
3
answers
962
views
What are the ins/outs of writing equipment purchases off as business expenses in a home based business?
I'm currently self-employed doing computer programming work. As part of self-employment I'm learning about filing taxes quarterly (not fun) and also writing things off as business expenses (...
- 277