Has anyone had to file taxes as a small business or partnership before?

Has anyone had to file taxes as a small business or partnership before?
by

1 Answer

Answer :

I’ve been doing taxes for over 30 years, lots of partnerships, corps, etc. For a first timer, I would recomend taxcut
by

Related questions

Departmental undertakings, statutory corporations and government companies comes under the category of a. Public Private Partnership b. Private Sector Enterprises b. Incorporated Enterprises d. Public or State Enterprises

Description : Departmental undertakings, statutory corporations and government companies comes under the category of a. Public Private Partnership b. Private Sector Enterprises b. Incorporated Enterprises d. Public or State Enterprises

Last Answer : d. Public or State Enterprises

Do I need to be worried about taxes/business license on my side projects?

Description : Do I need to be worried about taxes/business license on my side projects?

Last Answer : answer:If you earn more than $600 from any one contract job, that company will be required by the IRS to issue you a 1099 and to report the income to the IRS. You will owe taxes on it. ... tax advisor may suggest another option such as an S corp.) You probably should have a local business license.

Is there any way to estimate payroll taxes for a business?

Description : Is there any way to estimate payroll taxes for a business?

Last Answer : Of course it can be calculated. It is the employees withholding + employer contribution + FICA + SS + unemployment. Knowing your rates, it can be calculated to the penny. It will usually be between 0% and 30% of total wages, depending on where the business is located & W-4 statements.

My wife had a business last year. Should we still file our taxes jointly?

Description : My wife had a business last year. Should we still file our taxes jointly?

Last Answer : answer:How was the business organized? Did she draw a salary? The business may have to file its own return. I would bite the bullet and get professional help.

Can I file a business licence for my HOME business?

Description : Can I file a business licence for my HOME business?

Last Answer : I don't know where you live but here in california you go to city hall and apply for a business license. It's about 70.00 if I remember right. If your name is not in your business then you ... an ad in a local newspaper stating who you are and the name of your business. It's really pretty simple.

What paperwork do you have to file with the state, city and feds to register a business?

Description : What paperwork do you have to file with the state, city and feds to register a business?

Last Answer : I think you can call the Dep'ts of Revenue for your state and city to find out about taxes - how to record, how to report, how much will be due. If your business is not incorporated, you ... those books for Dummies - you can probably learn what you want to without even leaving Barnes & Noble.

Do you have to pay sales taxes on intangible things sold on the internet?

Description : Do you have to pay sales taxes on intangible things sold on the internet?

Last Answer : It is a service they pay for, so taxes apply in any case, and yes, it is always your responsibility.

Do you pay estimated taxes as a freelancer?

Description : Do you pay estimated taxes as a freelancer?

Last Answer : What do you do?

Do you think more people are filing their own taxes this year?

Description : Do you think more people are filing their own taxes this year?

Last Answer : My taxes are kind’a complicated, so I use a tax service. Plus, just in case I am audited, I want someone with a suit and tie by my side who can answer the questions.

How do taxes work when you use an online temp/assistant service?

Description : How do taxes work when you use an online temp/assistant service?

Last Answer : Yes, you can handle that as a business expense. You put it in Schedule C, which you file for your business to determine profit or Loss.

Do you pay state income taxes or do they refund you like federal income taxes do?

Description : Do you pay state income taxes or do they refund you like federal income taxes do?

Last Answer : The last 4 years, I have had to pay the Feds, and got less money back from the State.

How are my LLC's taxes broken down by percentage?

Description : How are my LLC's taxes broken down by percentage?

Last Answer : Buy the home and business Turbo tax and answer the question yourself. You’ll save a pile of money and learn more about your business than any class. It is worth it.

Can I claim my home office on my taxes?

Description : Can I claim my home office on my taxes?

Last Answer : I am not an accountant, however: Your business expenses as an independent contractor are generally deductible on a 1040 Schedule C-and the instructions for that specifically call out how to calculate ... lot less calculating. When I was an independent contractor, I generally was filing that one.

Accountants and small business owners can you give me some info on a SEP IRA?

Description : Accountants and small business owners can you give me some info on a SEP IRA?

Last Answer : Here’s the Nerd Wallet take on SEP IRA. Yes you have to contribute with certain rules.

What do you think of SBA Small Business Administration) and what services available to small business owners from the Small Business Administration.

Description : What do you think of SBA Small Business Administration) and what services available to small business owners from the Small Business Administration.

Last Answer : If you're looking to go into a very established, regulated, and formalized field, it can be a good resource to get a feel for what's expected. I think if you're trying to get into government ... initiative, but for most hands-on business owners I don't think they offer much targeted at that group.

How does a small business compete with a big one?

Description : How does a small business compete with a big one?

Last Answer : You say one thing you've evolved to do is catering to different people', that's very possibly your point of difference. A large chain isn't going to offer that individual, targeted ... great local butcher or greengrocer who stocks a range of locally produced product that Woolworths where I can.

What program should I use to keep the books for a small media business?

Description : What program should I use to keep the books for a small media business?

Last Answer : FWIW I use Sage Business Works in my business and though it is very robust compared to the Quickbook programs 15 years ago when we first got it, every time I ask my accountant for newer options ... and told me just today that she feels QB is friendlier and accomplishes all desired tasks easily.

Is it feasible for small business owners to receive a minimum wage for paying a higher wage to their employees?

Description : Is it feasible for small business owners to receive a minimum wage for paying a higher wage to their employees?

Last Answer : When times are bad in a business, some times the owners will take out no pay for a while.

If you were to start your own small business, what would it be?

Description : If you were to start your own small business, what would it be?

Last Answer : answer:If I were young and energetic and really liked details I would get on the alternative energy bandwagon. We tried to start a solar business but decided we were just to old and really didn' ... inevitable barriers. That thing that makes your heart beat a little faster is where your fortune is.

How much would you pay a manager in your small business?

Description : How much would you pay a manager in your small business?

Last Answer : How many employees does he have to supervise? Does he have to do the books? What is the business? Does it involve heavy lifting?

What do I have to do in order to set up a small business for an ice-cream truck?

Description : What do I have to do in order to set up a small business for an ice-cream truck?

Last Answer : answer:It depends on where you are, but there are generally permits involved, and health inspections to certify that you are able to safely sell food. But local laws vary enough that, without knowing where you are, we can’t say which hoops you need to jump through.

Is your small business going paperless?

Description : Is your small business going paperless?

Last Answer : As quickly as I can reasonably get it there.

Who would I seek to find out the value of a small online business?

Description : Who would I seek to find out the value of a small online business?

Last Answer : answer:There's no one rule, especially in small online businesses with few physical assets. The short answer is it's worth whatever it's worth to you and you should ask for a price that would ... final price will be lower. Congrats on building something someone sees value in. I hope it goes well.

Why does a small business need a website?

Description : Why does a small business need a website?

Last Answer : Their businesses are booming because they have good businesses. The question is, would they have even more business if they had a website?

Whats the Best Small Business Idea for a young guy like me?

Description : Whats the Best Small Business Idea for a young guy like me?

Last Answer : thanks @Ivan , maybe you have ideas where we can cooperate and do business

I need financing to start my business. Should I get a small business loan or go through private sources?

Description : I need financing to start my business. Should I get a small business loan or go through private sources?

Last Answer : If you have enough capital in hand to start without a loan, even if it means starting small, that would be my recommendation. If you start on borrowed capital, you must acheive profitability quickly to ... going to need one, make sure you can actually get it before going too far with your planning.

Why do many people praise small business but condemn big business?

Description : Why do many people praise small business but condemn big business?

Last Answer : Stan: So it seems like we have enough people now. When do we start taking down the corporations? Hippie (takes a drag on his joint): Yeah man, the corporations. Right now they're raping the ... like, provide services for each other in exchange for their services? Kyle: Yeah, it's called a town.

Looking for good blogs or guides for starting a small business.

Description : Looking for good blogs or guides for starting a small business.

Last Answer : http://www.score.org/index.html

Small business owners- depositing checks with your business name- how exact must it be?

Description : Small business owners- depositing checks with your business name- how exact must it be?

Last Answer : It should be fine. Put the correct business name of your checks, though. Your best bet is to get a rubber stamp to use for the endorsement that includes the full business name and your bank account number. They only cost about $5.

Can you recommend "expense management" software for a small business?

Description : Can you recommend "expense management" software for a small business?

Last Answer : Our company uses ExpensAble: http://www.expensable.com.wvproxy.com/default.asp

What are the specifics of buying **** in bulk for my small business?

Description : What are the specifics of buying beer in bulk for my small business?

Last Answer : It’s tax deductible as a business expense.

What do I need to know about starting and running a (very) small business?

Description : What do I need to know about starting and running a (very) small business?

Last Answer : I do know a number of people who do this type of work. You would need to set your business up as a LLC- limited liability corporation. Develop a business plan and guidelines, ... with your local small business administration and see what sort of classes they offer with regards to licensing.

How can I advertize for my new small service based business?

Description : How can I advertize for my new small service based business?

Last Answer : Fliers. you could head out to a big parking lot, and just put those fliers out on cars that everyone usually throws away anyways. It would cost some money to buy an Ad in the phone book, but ... and walk door to door, carrying informational packets, and setup times to stop by and estimate for them.

What are some ways to finance a small business?

Description : What are some ways to finance a small business?

Last Answer : Well I guess it depends on the type of business and your business plan. But assuming you have a pretty solid plan there are tons of ways to get money from places. Their is always small business ... just have to find them. Just out of curiosity, what kind of business are you thinking of starting?

How do I get financing for my unique small business idea?

Description : How do I get financing for my unique small business idea?

Last Answer : try http://Prosper.com

Top 40 Small Business Ideas in India for Starting Your Own Business

Description : Top 40 Small Business Ideas in India for Starting Your Own Business

Last Answer : nowadays the younger generation is always running to find something new and especially wanting to become entrepreneurs they have the power and energy which is the key for them opening the hidden ... excellent idea and forty event management manpower is the main requirement here if you have that

How to Start a Small Business

Description : How to Start a Small Business

Last Answer : How to Start a Small Business For many people, starting their own small business is a dream come true. If you have the entrepreneurial spirit and would like to either make a decent part time income or ... , a well though-out, planned and organized business can be the key to one's financial success.

Do you believe that, as time goes on, there are less business/entrepreneurial opportunities out there? In other words, does this generation have less biz ideas available than the last generation and the generation before that? Do ideas as grand as Starbucks still exist?

Description : Do you believe that, as time goes on, there are less business/entrepreneurial opportunities out there? In other words, does this generation have less biz ideas available than the last generation and the generation before that? Do ideas as grand as Starbucks still exist?

Last Answer : answer:I think there are still limitless opportunities and new ideas. Many of them will focus on new technology, for example, the two guys who started Google or the YouTube or our own Ask- ... revolution? All you need is imagination and drive. Not giving up is the key to entrepreneurial success.

If you had enough capital to start your own business, what business would you enter into?

Description : If you had enough capital to start your own business, what business would you enter into?

Last Answer : I would start a chapter 50lc charity and employee all of my relatives to review and disburse the charity contributions.

Should I file my LLC with Legal Zoom instead of dealing with my state directly?

Description : Should I file my LLC with Legal Zoom instead of dealing with my state directly?

Last Answer : LLC stands for Limited Liability Company, right?

How to file a DBA (Florida)

Description : How to file a DBA (Florida)

Last Answer : Here is some information on filing in Florida.

Where would I file a complaint about late W-2s?

Description : Where would I file a complaint about late W-2s?

Last Answer : IRS?

What is the cost to manufacture a nail file?

Description : What is the cost to manufacture a nail file?

Last Answer : To manufacture one is probably very expensive. However, the equipment setup that it takes to produce one needs a very small amount of new materials to produce the second. I imagine nail files are produced ... add in packaging, shipping and tariffs, and $2.99 is looking like the right price to me.

Which of the following cannot file a complaint? a. Individual consumer b. Consumer association that has not been registered c. Central Government d. State Government

Description : Which of the following cannot file a complaint? a. Individual consumer b. Consumer association that has not been registered c. Central Government d. State Government

Last Answer : b. Consumer association that has not been registered

On sellers wrongful refusal to deliver the unascertained goods to the buyer, the buyer can file a suit for recovery of a)goods b)damages c)both (a) and (b) d)none of these

Description : On sellers wrongful refusal to deliver the unascertained goods to the buyer, the buyer can file a suit for recovery of a)goods b)damages c)both (a) and (b) d)none of these

Last Answer : d)none of these

On the payment of price by the buyer ,if the seller fails to deliver the goods ,then the buyer can file a suit for a) refund of price b)interest c) none of this d)both (a )and (b)

Description : On the payment of price by the buyer ,if the seller fails to deliver the goods ,then the buyer can file a suit for a) refund of price b)interest c) none of this d)both (a )and (b)

Last Answer : a) refund of price

Is the registration of partnership business compulsory or compulsory ?

Description : Is the registration of partnership business compulsory or compulsory ?

Last Answer : Registration is not compulsory. However, there are many benefits to registering.

What is partnership business ?

Description : What is partnership business ?

Last Answer : When two or more known persons are engaged in conducting business by raising capital on their own initiative, it is called partnership business.

In general business partnership firm maximum ________ partners are allowed. 

Description : In general business partnership firm maximum ________ partners are allowed. 

Last Answer : In general business partnership firm maximum ________ partners are allowed. (a) 2 (b) 20 (c) 50

Why would a joint venture make more sense than a partnership for an international business?

Description : Why would a joint venture make more sense than a partnership for an international business?

Last Answer : What is the answer ?