The Small Business Tax Help Blog

Posts Tagged ‘bookmarking’

Question: Adding a 50/50 partner to Start up Business?

Hello all,

About 5 months ago I set up an LLC in the state of Idaho. A friend (in texas) decided to partner with the new business. We haven’t officially started yet. It’s a dotcom business.

My questions to you :

Where do I start as far as paperwork?

Do I go change the LLC first?

Do I need to put him on the EIN paperwork?

Where would I begin as far as legal contracts? What kind would I need?

Do we need to set up a dba, another business address in Texas, or something similar if he is doing the work in Texas and I’m here in Idaho? Or is just having the corporate office in Idaho ok since its an online business? Would it better better to set up an office address there?

I would greatly appreciate any advice/tips. Thank you kindly.

Best,
Jason

Answer: First thing you need to do is reach an operating agreement. Operating agreements govern issues of control, key decision-making, and buyouts of shares if one of you decides/needs to leave the company.

Once you both sign the agreement (don’t leave it unsigned), you can change the LLC.

I’m not an attorney but I doubt you need to set up separate corporate entities, unless there is a tax reason to do so. For example, Texas has no income tax.

I strongly recommend you do not do this alone. Hire an attorney who works for you. Your partner should do the same. A couple thousand bucks’ investment now can save you from much more losses down the road.

Unsolicited advice – 50/50 relationships are very tricky. When you disagree, you can paralyze and kill the company. In some states, when you have a true impasse, a judge can force the dissolution of the company.

Steve Jobs’ 2005 Stanford Commencement Address

Die besten globalen Aktienfonds

Die Fondsmanager der besten globalen Aktienfonds haben exklusiv fünf Fragen zu ihrem Makro-Ausblick, den wichtigsten Elementen in ihrem Investmentprozess, den Gewichtungen sowie den Anlagethemen und Risiko-Kennzahlen beantwortet.

Don’t Wait for Detroit. Warte nicht auf die Autoindustrie! Rueste Dein Auto jetzt um!

Question: Where is the best place online to buy a cell phone (new/used) worry free?

I’m wanting to buy a HTC Mogul, but buying it from Sprint is out of my budget. I’ve looked online some and found some better deals, but I’m concerned about buying. I’ve read horror stories about people buying stolen and/or broken phones online and I want to avoid getting ripped off. I’ve been told to ask for the EIN(?)# so I can verify that the phone isn’t stolen before buying and to avoid people who won’t give out that info, but it would be nice to know if there was a site that I can buy without worry. I don’t care if it’s used as long as it’s in good condition. Anyone have any advice?
Thank you for the answers, but A. I don’t want to spend $200+ more at a cell phone store and B. Amazon.com doesn’t sell the phone I’m looking for.

Answer: Amazon… I’ve never had a problem with anything I’ve purchased from there.

Fund launched in memory of ‘kind and loving’ bomb victim

A scholarship fund is being set up in Israel in memory of the Scot killed in last week’s Jerusalem bomb attack. Mary Gardner, 59, was a Christian missionary who had moved to Israel in January to spend six months studying Biblical Hebrew at Hebrew University.

~fiesta online~it’s no getting over~

Question: Get paid for blogging? How safe is Payperpost?

I was just browsing the web and learned that people can get paid for blogging. lol Sounds great to me.

I found a website called “PayPerPost”. It is a website to get jobs to get paid for blogging. I am a little hesitant though because it says “You are here to make money so a valid TAX ID (either social security number for individuals or an EIN for companies) is required for US citizens.”

Has anyone done this?? How can check this out to see if it safe to give out my social security number to them?

http://payperpost.com/

Answer: Once you have signed your life`away to most of these companies, you will probably find you get paid $0.50 for every person you get to sign up for their service. They probably have aminimum payment amount, by the time you collect enough money to get paid, they will have gone bust and retired to the Bahamas (Possibly with the contents of your bank account). I can not say if this is the same, because I will not even visit sites advertising get-rich-quick schemes.

Rewind: Finn Johannsen im Gespräch mit …

Es ist wie im Fernsehen, eine gute Serie verdient es, wiederholt zu werden. Seit letzten Herbst befragt Finn Johannsen jeden Montag auf dem Sounds-Like-Me-Blog in seiner Kolumne “Rewind” Musiker, Designer, Journalisten und andere Kulturschaffende zu ihrer Lieblingsplatte.

UFO in der nacht 23.6.2010-1.35h

Question: I have some questions about internet business?

I’m starting a online business and I have alot of questions because it seems like there is alot to do. If you want to e-mail me that’s fine too.

1.I am using a dropshipper do I still charge sales tax for my state(Illinois)?

2.If so does this mean I need to get a sellers permit?

3.If I have an EIN should I also file an DBA?

4.Do I file taxes yearly or quarterly?

Any other help or information would be great.

Answer: Hi. Here is a link to your state’s government site for business. I hope this will help in answering your questions.

http://business.illinois.gov/starting.cfm

CCM Choral Honors Program Founder in Very Special Concert

Cincinnati, Ohio On Sunday, Oct. 24, CCMs Choral Studies Program presents a very special concert event. Elmer Thomas 80th Birthday Concert celebrates CCM Professor Emeritus and Choral Studies-founder Elmer Thomas. Thomas was a member of CCMs faculty from 1966-1995, elevating the Choral Studies Program to international recognition during that time. His birthday concert will feature…

Ein Volksfest-”Folk Fest” Shostakovitch MPCB