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2
votes
2answers
998 views

Creating S-Corp: Should I Name My Wife as a Director/Shareholder?

I am creating an S-Corp for consulting services. I will be the sole employee for now, and likely for the foreseeable future. I am trying to figure out initial shares for the corporation, which will ...
2
votes
1answer
62 views

Deadline for Electing S-Corp Status — What does it mean?

Got a new gig as a contractor, and I am considering forming an S-Corp for various reasons. I have seen a few references to the deadline for electing S-Corp status being March 15th. One example: ...
0
votes
1answer
367 views

How to set up my business as a self-employed contractor

I am a full time employee in New York City who does contract work on the side. Next year, I would like to set up a business for myself for this, with the expectation that I might become a full-time ...
13
votes
6answers
913 views

Indie Software Developers - How do I handle taxes?

I apologize if this is the wrong site to post on, perhaps someone could point me to the proper place if it is not. Hello, I am 17 years old and currently develop applications/games for Android and ...
4
votes
4answers
295 views

Will my current employer find out if I have a sole proprietarship/corporation?

I am currently employed by a large Canadian corporation. I'm also in the planning stages of bootstrapping my own small company. The two are in unrelated industries, but it could be argued that there ...
5
votes
2answers
102 views

Is it possible for a new company to issue dividends in it's first operating year / month? (UK)

One of the more popular tax structures I keep hearing about, is using a company for revenues, which then pays dividends for it's sole owner. According to HMRC, in this case, the following tax ...
2
votes
4answers
5k views

Which is better when working as a contractor, 1099 or incorporating?

When working as a contractor, is it better to work as a 1099 contractor or rather incorporate as a C, S or LLC corporation? (with one employee/owner/board member) (assuming that the pay is the same ...
6
votes
1answer
351 views

Figuring S-corp taxes - salary vs. dividends

I am working on a business plan for a small business I'm going to be starting in the near future. I am going to incorporate as an S-corp. One of the line items on the business plan I have to present ...
3
votes
1answer
1k views

Is it worth incorporating, when working in Canada as a contractor for an employer in the US?

Assume a Canadian contractor is working remotely from Canada for a US based contracting company. Is it advisable to incorporate, in Canada, in this situation? Also, once incorporated in Canada, is it ...