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Recent Sole Proprietor questions
I have a business in Instructional Media Development that
Hi,I have a business in Instructional Media Development that plugs along (LLC in Arizona, Sole Proprietor) and tax write-offs are against my wife's income combined with mine from the business). File# ***** if you'd like to see it, "Business Type: " is blank. However, I'm also an inventor and I'm pushing for license agreements on my inventions (multiple and in different areas). This is clearly a new scope of business, but I'd rather not start a new business. (Maybe just revise the name - I have done that once already). So how would our joint married taxes work this year? Can I lump it all together or do I need to spell separate schedules for difference expenses and income - on the same LLC?Thanks,John
I am in the process of starting a photography/social media/
Hey there,I am in the process of starting a photography/social media/ design business and am wondering what my responsibilities are when it comes to taxes.* I have an EIN # ***** a Tax ID #, I have NOT filed for a business license (yet) and I would like to also know if that is required by GA law or can I just claim the extra income on my personal taxes.* Since I did already obtain everything I needed for a business license in the State of GA (even though I never actually filed the business license) am I required now to pay / file taxes under my proposed business?Thank you for your time! Please help! :)- Shelby
I just realized I did not pay my social security and
I just realized I did not pay my social security and medicare withholding taxes for the last4 years. What should I do..I am a sole proprietor private business owner who made altogether for those years about $30,000
I'm a sole proprietor, I fix Widgets at my customer's
I'm a sole proprietor, I fix Widgets at my customer's location. My apprentice is mortgaging a business property. He proposes that customers can their widgets to his building to be fixed by him. He would like a 50/50 deal in which he uses my equipment, training and guidance to fix the Widgets customers bring in.However, Widget Fixing is a seasonal business (heavy in fall and spring / lax in winter and summer). I don't want to 50/50 my established or future onsite Widget fixing business, only the "At his location" Widget fixing.I am cautious, because I believe that the monthly utility bills, mortage payment, etc will trickle in and leave my partner feeling shafted. Right now, he is excited and promises he will pay the mortgage and utilities "to start out with".This, to me, is a rather splintered way of proceeding, but I'm lost as to how to resolve my concerns. Thanks
Good morning, are you really there? JA: No. I'm the
Good morning, are you really there?JA: No. I'm the Accountant's Assistant.Customer: a computer then?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: I want to trade as a hobby, what is the best approach? An LLC?JA: Is there anything else important you think the Accountant should know?Customer: I live in TexasJA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Accountant about your situation and then connect you two.
Considering forming LLC in California (home state). Will beView more business law questions
Considering forming LLC in California (home state). Will be bringing scape precious metal off-shore and smelting to yield gold, etc. I have already California company and hold federal and state licenses for alcohol, so I think I can pass the Patriot Act requirements (I see smelter companies requiring this beyond setting up company). I understand there is no duty or restriction on importing gold or other precious metals, but government keeps on eye on such commodities (I believe). Want to do all above board. If the scape provides valuable then I can acquire more. This may be a generous money-making business and if so, believe I need to incorporate. My current business is a simple sole proprietor, but in this venture I will have one equal partner. If I understand correctly incorporation protects against law suits, but who will sue us? We bring scape to smelter and they yield analysis and gold (or money if I choose). Anyway LLC seems the best entity. Pass through profits to my mate and I. I see everyone heading to Nevada but that means double filings and all of my work here in California. Does the above make sense? Do I need corporation and if so, then LLC?