Questions tagged [small-business]
Questions specific to small businesses, generally under 100 employees and revenues less than $1,000,000.
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Taxes: What is the correct way to file freelance income?
I've been living and working remotely as a freelance software developer in America, but for European clients. Each month I write them an invoice for my contract hours and they pay me (in EUR, if that ...
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How can I issue payments from my business under my business' name?
I have a small business checking account with a bank, and a Wise business account. Both of them send payments (wire transfers, ACH...) with their names appearing on the recipients' statement. I'd ...
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What counts as different sources of income?
I'm a freelance writer (in US), but I also do some freelance video editing, programming, and virtual assistance along the side. I'm wondering if each of this counts as a "separate source of ...
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US: how to prove business expenses?
I'm a freelance writer who works from home. My internet fees should count as business expense and be deducted from gross, but the question becomes how much? Since I also use internet for entertainment ...
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How to structure a company/entity that accepts money from friends/family to invest and gain interest/dividends/gains?
I have a few interested friends and family that are looking to invest money. They come with various backgrounds/experiences in investing but given a connection they are willing to try a different ...
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Introduction to UK Limited Company Taxes
Goal:
To determine the types of taxes (and how they're calculated) that a UK-incorporated limited company is liable to pay.
Details:
This post is based around an example of a limited company based in ...
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How is remaining inventory items in home business calculated in COGS on schedule C
My wife recently stopped doing her home business which is an MLM clothing sales. Though she cut ties with the company and ended her business in December 2022, she's still left over with a large ...
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Why would I (with good credit and financial history) be denied while applying for a business checking account?
I've applied for several accounts, and all of them were denied, most instantly. I have an 800+ credit score, a clean checking history, and so on. I do not have any business financial history - but ...
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How do I create, structure, and file taxes for a small business?
My friend and I (we’re high schoolers) want to create a tutoring business for elementary/middle schoolers. I figured it would be structure as a partnership but I have been hearing about LLPs. Will it ...
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Can I count personal 1099 income as LLC revenue?
I have about 78k in 1099 income that was made out to me personally. I also recently formed an LLC with the election to be taxed as an S-corp - can I report this 1099 income as revenue to the LLC, ...
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As an investor of a business, how do you prevent the founder from holding back growth? [closed]
If you are an investor who owns 30% of a business and the founder owns 70%, how do you prevent a situation where the founder decides to always take profits and not reinvest them to grow the business? ...
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How can I check progress on an EIN application?
How can I resolve my case when the IRS doesn't provide a mechanism for me to obtain updates?
I registered an LLC and would like an EIN to open bank accounts.
I filed an SS-4 in May.
The SS-4 was ...
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Personal contracting versus LLC
I am taking on a side project where I will be making a little under $100 US an hour for a few (5-10) hours a month. I do have a LLC already established in the same industry (fitness/teaching) in ...
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Can I use a friend's bank account while living abroad?
I've been living abroad for 2 years and work as an expat independent contractor. A friend is willing to open a bank account, on his name, exclusively for my use - so my client will send payments to ...
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Starting a second business as a Sole Proprietorship, S-Corp, or LLC with a DBA?
I'm planning on launching a business to provide voiceover professional services. In professional voiceover, your name is your calling card, so my first inclination would be to simply do everything as ...
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