The Small Business Tax Help Blog

Posts Tagged ‘legal’

Question: how can I find an accountant who knows the tax rules about internet businesses?

I have a profitable ebay business, but need an accountant in northern massachusetts who is well versed on the tax laws that apply to internet sales.

Answer: Look for an Enrolled Agent. You may find one here http://www.maseaonline.org/default.asp for MA Enrolled Agent Society. An enrolled Agent is someone that has taken a test given by the IRS. The test covers all topics of tax. You can also look for a CPA, but they generally charge more for services.

French Fin Min:US Bank Tax To Recoup Government Losses Justified

PARIS -(Dow Jones)- French Finance Minister Christine Lagarde Friday said the new tax on banks unveiled Thursday by U.S. President Barack Obama is justified as it will enable the government to recoup some of the taxpayer's money used to rescue financial institutions during the crisis.

Kiyosaki Principles 4 MLM Success, The Tax Laws Favor You

Question: What legal aspects is needed to be done for me to leave a general partnership/Investment Club?

I am planning on leaving an investment club that never took off and has no support from the other members (yet they don’t wish to dissolve the partnership). Besides a written notice, what legal aspects do I need to do on my part to remove myself from the partnership (or is all that handled by the investment club)

Please note we never actually got started except for getting an EIN and registering a DBA (along with getting the agreement together) so we never have filed our taxes because of no gains or losses or expenses. Thanks

Answer: You should be able to find the terms for leaving the club in the agreement you signed and/or were given to you when you joined.

As long as you are in compliance with the terms and conditions set forth when you joined you can walk out without having to worry about any legal consequences.

Hope this helps
Jerry-the-bookkeeper

Europlasma: Progress and Financing for the Development of CHO-Power(R) Power Production Units

After signing the letter of intent in April 2010 with a fund specialised in renewable energies for the development of CHO-Power activities, Europlasma, the French group specialized in clean technologies and renewable energy production, is reporting on progress made with the project to develop the Morcenx biomass power production plant and is announcing various developments in relation to the ...

Question: S corporation vs LLC company .. HELP?

what does this mean?? ‘A single-member LLC that doesn’t operate an active trade or business doesn’t have to pay self-employment tax and so would not save self-employment taxes by electing S corporation status.’
What do you mean by if income is passive? how does that make a difference?
we have a business. would it be better to create an S corporation so, we can save on employment tax? I was just wondering what does it mean by having an active trade or business..

Answer: All income that is from an active trade or business is subject to self-employment tax if it is earned in an LLC. If it is earned in an S corp, it is not subject to social security unless paid out as wages.
Income that is passive (interest, dividends, etc.) earned in an LLC is not subject to self-employment tax. Same for an S Corp. What you are reading says there is no advantage of S Corp taxation over LLC taxation if all the income is passive.

Are you sorry you asked?

Among the stories you'll find in Business Today :

- Construction begins on second of 3 hotels across from airport - Jonathan D. Epstein/Buffalo News Construction is under way on the second of three planned hotels on the site of the former Radisson Inn across from the Buffalo Niagara International Airport , as Benderson Development Co.

Question: starting an auto transport business i got my Llc EIN CA what else do i need?

it is with a small truck that will pull 3 cars. thanks for your help

Answer: Get a business consultant. If you have gotten this far, but don't know what is next, you need help.

PM love that 50cent get it in

Question: What are the tax obligations of an S-Corp to 1099 contractors?

My company (an S-Corp) is planning to hire an independent contractor for a small project. What are the tax implications that I need to be aware of? I have only used full time employees in the past. Detailed answer with sources would be very much appreciated.

Answer: 1099 contractors are responsible for all their own taxes. You just need to send them their 1099 at the end of the year.

Greystar Resources Ltd: Year End Financial Statements

FOR: GREYSTAR RESOURCES LTD. TSX, AIM SYMBOL: GSL March 29, 2010 Greystar Resources Ltd: Year End Financial Statements VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 29, 2010) - Greystar Resources Ltd. (TSX:GSL)(AIM:GSL) - Annual Financial Statements Years Ended December 31, 2009 and 2008 (In Canadian Dollars, unless otherwise noted) /T/ KPMG LLP Chartered Accountants PO Box 10426 777 Dunsmuir ...