The Small Business Tax Help Blog

Posts Tagged ‘llc’

Question: I am starting a childcare business and would like to know how to obtain an EIN and what forms to use for taxes?

I am preparing to open a home childcare business in Pa but I am confused with the many forms out there and would like to know which forms to use to have an EIN so that parents can claim this on their taxes. I would also like to know which forms I need for the IRS so I know how much I will have to charge extra in my tuition to cover costs and what forms I need when I file taxes for the upcoming year.

I can’t really afford an accountant and unfortanetly numbers are not my forte…

Any help will greatly be appreciated :^ )

Answer: The best place to start is here http://www.pa.gov/portal/server.pt?open=512&objID=3017&&level=1&css=L1&mode=2&in_hi_userid=2&cached=true

Good Luck with your new venture

40% Chance durch Übernahme? SAP ist dr.

1. 40% Chance durch Übernahme? SAP ist dran 'Cash' meldet heute, dass einmal mehr Gerüchte über eine mögliche Übernahme des Schweizer Bankensoftwareherstellers Temenos durch SAP aufgetaucht seien, und zwar "aus London". Quellen werden nicht genannt.

FFXII - Zodiac Spear in Henne Mines

Question: can a llc with s corp election get ALL benefits of an actual S corp.?

some opinions have said that you will still pay self employment taxes on ALL income received, including the end of year dividend distributions
I am not trying to pay myself extremely low wages or do anything unethical, i just simply want to know if an LLC who has elected ‘S’ corp status declare part of their income as dividends and thus avoid paying SE taxes on SOME of their income. Does anyone know for sure?

Answer: The S-corp MUST pay wages, which includes both sides of the FICA/MC tax (it's not technically SE tax, but it adds up the same way).

The IRS is taking a hardline at one-owner personal-service S corps that try to claim they have low salaries and high distributions.

The Consular Posts Book Editor: Rami D. Fakhoury

Immigration law news on visas, greencard and citizenship. Find how to get US visas, green cards and citizenship. Immigration CLE Seminars for Lawyers. Immigration Law Books for Attorneys.

Look Who’s Peeking at Your Paycheck

Starting in February, your incomeas estimated by credit bureausmay be used to help determine whether you get a new credit card.

Bovitz CPA PC.

Performance Media Group Is Changing the Game

Performance Media Group , LLC. a leading media company in the travel and hospitality industry with a unique focus on building communities around live events, print and online environments today announced that it is launching a dynamic dashboard that delivers real-time and historic data and reporting to clients at a time when accountability for results could not be higher.

LegalArrow® Online Legal Document Service Center

Question: Do you need a new TIN# (EIN#) if you buy a business (LLC) from someone?

A business was just recently bought and the actual name of the company will not change but the old owners name is still listed under the company and either his name needs to be removed or changed to the new owner. If this is done, will a new tax id # need to be issued?? Are you allowed to keep the old TIN# once you bought the business???

Answer: Yes, you may keep the old EIN. The business has not changed, only the ownership has. Have you considered additional issues such as technical termination and Sec 754 Step Up? If there was a 50% or more change in ownership within a 12 month period, then the partnership is deemed to have terminated and reformed as of the date of sale. You will have to file a short period return from the beginning of the year to the date of sale and a second short period return from the date of sale to the end of the year. Also, you may be able to step up the basis of the partnership assets under Sec 754 and depreciate the step up if the purchase price of the partnership interest exceeds the partnership's tax basis in its assets. Transfers of ownership can be a very sticky area for partnership tax. Let me know if you need additional explanation.

1,000 line up to fast-track a job at Millville's New Jersey Motorsports Park

Job seeker Kathy Sacca of Millville, left, gives her application to Karen Taylor at the New Jersey Motor Sports Park in Millville on Monday during its annual job fair.

Iriepathie feat. Anthony B - One Love we need (version)/ Ein