Questions tagged [small-business]
Questions specific to small businesses, generally under 100 employees and revenues less than $1,000,000.
39
questions
32
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4
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When should I start an LLC for my side work?
I am doing quite a bit of sidework this year and wondering at what point would it be a good idea to "start a business" and bill through that.
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4
votes
3
answers
5k
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Can I write off time I spent working on my business?
So, I'm a freelance web programmer by trade, which means that my time really is money. I, occasionally, work on side projects of my own and forgo the possibility of earning direct income for that time....
- 151
51
votes
2
answers
13k
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Can I hire my kid and start a Roth IRA for him?
I own an LLC, of which I am currently the sole member. It's my main source of income.
I am wondering if there is a reason why I could not do the following:
Hire my child as a part-time employee of ...
- 2,761
11
votes
1
answer
1k
views
Sole proprietorship or LLC?
At what point in the life of a small business would you choose to do a LLC over a sole proprietorship? What's the advantage, and what's the cost of doing an LLC?
- 7,856
10
votes
1
answer
1k
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Determining the minimum dividend that should be paid from my S corporation
I am the sole shareholder and only employee of an S corporation. I understand that all profits of the corporation are passed through and taxed as income to me. I also understand that all dividends ...
- 203
4
votes
1
answer
3k
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Indian citizen wants to work as a freelancer for Europe. How to pay tax in India?
I got an offer to work as a freelancer for a European company. In Europe, it's like you need to set up a small legal entity on your name but is this the same in India? How can I do freelancing in ...
- 41
42
votes
5
answers
14k
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Every month I make money from Patreon. I want to split my income with a partner. How do I avoid paying taxes on 100% of the income?
Let me start off by saying I have no idea what I'm doing here. The context is, I am making a game, and every month I make $400 or so from Patreon (people are my patrons, and they are paying me because ...
14
votes
5
answers
42k
views
Deductible expenses paid with credit card: In which tax year would they fall?
If I paid my business expenses with a credit card during the month of December, which year can I deduct them from my taxes? 2011 (when the purchase was made) or 2012 (when I paid off the credit card)?
...
- 178k
10
votes
4
answers
2k
views
I am the sole owner of an LLC. Does it make a difference if I file as an S-Corp or a sole-member LLC?
As an LLC with one owner, I had the option of filing using Schedule C on my household taxes, effectively treating business income (in this case, losses) as I would a sole proprietorship. My plan had ...
10
votes
5
answers
3k
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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 ...
9
votes
1
answer
3k
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What are the benefits and downsides to an LLC vs. Sole Proprietorship vs. Individiual?
As a followup to my previous question, what benefits are there for an LLC vs. a Sole Proprietorship? What are advantages and disadvantages to both and also vs. just being paid as a person?
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7
votes
1
answer
9k
views
How to "pay" one self in a single member LLC w/ separate checking account?
I own a side company creating web apps. I formed an LLC, registered an EIN and opened a business checking account. Recently, I sold a copy of my software for let's say $10,000. Now, since everything ...
- 243
4
votes
1
answer
447
views
Starting a new online business
I have just started working on an online business mode website. My dream is to make it live and bring revenue from the website. However, the project is in an incubator phase.
Can I register it as a ...
- 1,117
4
votes
2
answers
311
views
Charging sales tax for goods sold out of state?
Do I need to charge sales tax for goods sold in DC if I'm a florist based in Oregon (a no sales tax state)?
- 41
14
votes
5
answers
45k
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Any practical difference between "personal checks" and "business checks"?
I need to order checks for my LLC. I wrote maybe 5 paper checks last year (by hand, not printed). So it doesn't make sense for me to spend $30-40+ on "business checks" if I can spend $5-10 on "...
- 10k