to be used for any question related to Company incorporated with Limited Liability. Abbreviated as LLC. LLC is a US specific term per se. Other countries have similar concepts but are called differently. Even if the question are for different countries, the tag "Limited-liability-company" is still ...

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3
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1answer
15 views

When is my California LLC's Annual Tax due for 2016?

California form 3522 states that "the annual LLC tax is due and payable by the 15th day of the 4th month after the beginning of the LLC's taxable year (fiscal year) or April 15, 2016 (calendar year)." ...
2
votes
1answer
58 views

First time IT contractor, not UK resident, Umbrella or Limited Company?

Will be starting my first IT developer contract soon lasting 3 months, 260 per day, I don't intend to have another contract until at least 9 months after this first contract. Having read in depth the ...
1
vote
0answers
29 views

How to file income tax for administratively dissolved S-Corp still getting money from contracting work?

I have an S-Corp which I just realized was administratively dissolved in 2011. But I have been using a bank account linked with the S-Corp to get contracting income. I have filed 1040 schedule C for ...
3
votes
1answer
34 views

What forms do I need to fill out for a super basic LLC closing?

I made the mistake of turning my photography business into an LLC last year. I was really not ready for it and now I would like to close it down and end my business. I have no employees, I'm the ...
0
votes
1answer
19 views

Obtaining California SOS number for out-of-state LLC

I own a Nevada LLC and will start doing some business in California this year. However, it seems to pay the California Franchise Tax, I need an SOS number for California (I could be wrong, but Google ...
2
votes
1answer
66 views

Pass-through entity question

Would this scenario work? LLC A owns LLC B, C All $ made on LLC B and C is passed to LLC A and then $ made on LLC A is split between two partners avoiding double taxation?
0
votes
0answers
29 views

Taxing of an LLC Member of a Foreign Company in USA

We want to form an LLC (%50 me, a real person and %50 a company in Turkey). So even its an LLC, I guess it will be taxed as partnership? by the IRS rules. (if we select so) I will be working on that ...
1
vote
1answer
32 views

How do I file for an LLC in Florida?

I own multiple mobile apps and currently live in NYC. Each app is under it's own LLC single-member which is me. However, I am sick and tired of paying a leg and an arm in NYC taxes. Local + State ...
1
vote
2answers
77 views

Calculate Estimated Tax on Hobby Business LLC

I live in NYC and make $90k as a salaried employee, but I also have a freelance LLC (with separate business account) for freelance projects. I've set up the LLC as a disregarded entity (Schedule C on ...
0
votes
1answer
26 views

I own an LLC, how should I go about contributing to a 401(k)?

I am one of two LLC members - we have been operating for about 2 years. We have no employees. I would like to start a 401(k) and contribute as much as I can to it. We don't have salaries ...
0
votes
1answer
41 views

Is there a register that shows the companies with notifiable interest in a stock?

I am based in the UK but the question is global where it applies. In the UK if a company holds more than 3% of stock, they must issue an RNS stating their holdings as they have a notifiable interest. ...
1
vote
1answer
66 views

Does using a personal credit card pierce the corporate veil for single member LLC?

I am trying to completely separate my spouse's business from our personal finances. He is doing business as a single owner LLC / disregarded entity. Can he use an existing credit card in his name ...
0
votes
1answer
134 views

Need help working out what to charge/hr to meet my personal expenses

I'm starting an LLC in Illinois (software consulting) and I'm the only member in the business. I'm trying to figure out what wage to pay myself that will ultimately cover my personal expenses after ...
0
votes
2answers
51 views

Impact of EIN on taxation

I have already an LLC in Michigan and I am the only resident agent/member of it. I am now going to apply for an EIN. Is it possible if (After getting EIN) I change my LLC type (disregarded entity or ...
4
votes
1answer
29 views

Can an LLC choose to be taxed as a partnership after electing to be taxed as an s-corp?

Once an LLC chooses s-corp status for tax purposes, can they choose say in one years time to be treated as a partnership for tax purposes?
3
votes
1answer
56 views

Being a 1099 for a company I part-own?

A business associate of mine owns 100% of an LLC (this LLC has insignificant income and valuation). He is offering me 10% ownership of this company in addition to paying me a fixed monthly stipend for ...
5
votes
2answers
128 views

Contracter with day job - limited company dividends

I currently have a 'day job' as a web designer. I am considering taking on some freelance work which I have been offered and this would be completed in evening/weekends whilst also retaining my day ...
0
votes
0answers
37 views

Starting a LLC but owe taxes

I'm looking to start a LLC in entertainment and I owe back taxes, how will this effect me starting a LLC?
3
votes
2answers
161 views

If earning as freelancer, is it better to be a Sole Trader or Limited Company?

I am going to be staring freelancing. Is it better if i set up as a Sole Trader or Limited Company? I wont have many expenses.
0
votes
1answer
91 views

Adding spouse to Wyoming LLC as managing member

I own a WY LLC as a sole member. I want to add my spouse as a second managing member, and I understand I must amend the LLC's operating agreement in order to do it. As this is the first time I'm ...
0
votes
1answer
59 views

New EIN when adding managing member to Wyoming LLC

I own a WY LLC as a sole member, and am adding my spouse as the second managing member. I understand that in addition to changing the LLC's operating agreement, I also must apply to a new EIN given ...
1
vote
0answers
69 views

Why my tax calculation (SA302) doesn't show my dividends through a service company?

I've submitted my tax return (Self Assessment) to HMRC for the recent year and I've enter my total of the dividends (from my Limited company as contractor) into Service companies box as below: as ...
3
votes
1answer
64 views

How do I notify the IRS of a new member to an LLC?

I started an LLC in NY but now I need to add a new member. I have been looking online and it claims I must notify the IRS however I cannot seem to find the appropriate links/forms that will let me ...
1
vote
0answers
146 views

Open Company in USA and work from India for this company [closed]

I am working in USA under OPT-STEM on F1 visa for a US public company. My visa expires soon and I will be leaving for India. I want to work for this company from India as a contractor but the US ...
0
votes
0answers
44 views

Create bank account for LLC company

I live in Europe and I want to register LLC company in USA. Registering a company is very easy using company specialized in this area. But the major problem is how I can open bank account in USA ...
1
vote
1answer
80 views

Can you lease a secondary residential apartment for a job in NYC, and declare it as expense in tax return?

Currently I commute over 2 hours to work in NYC. Thus I would like to rent a apartment close to where I work. Is there a way to have your rental payment declared as expense in your tax return? One ...
2
votes
2answers
415 views

Can I invoice my self-owned company?

As being self-employed, can I invoice my self-own non-VAT Limited company (used for IT contracting)? If so, in what circumstances (e.g. making my own Ltd company website)?
3
votes
1answer
84 views

Which type of company accounts to choose for LTD tax return?

I'm trying to file a File company's annual accounts on Companies House WebFilling website, however I've the following type of accounts: Abbreviated Accounts These audit exempt accounts are ...
1
vote
1answer
176 views

Can I reuse a W9?

I created a Single Member LLC to do my IT Consulting/Training through. Each new contract that I join requires me to fill out a W9. This last time, I looked through the document and realized there ...
1
vote
1answer
57 views

Can forming an LLC be beneficial when earning foreign income?

I'm a full-time salaried employee in the US. I have the opportunity to do some freelance foreign work on the side while continuing to live in the US. Would it be beneficial to register an LLC and ...
1
vote
1answer
51 views

How to calculate taxes (really cost basis) on the sale of software-as-a-service product

here's the scenario: started an online software subscription product in 2008, the only product of the business. business that owns the product is a single-member LLC (disregarded entity) paid ...
1
vote
1answer
79 views

capital gains vs operating losses

Let's say an LLC owns some shares in company XYZ, and it also owns a small retailing business. The shares are sold and they make a capital gain of $1,000 this year. And the retailing business loses ...
31
votes
7answers
7k views

Why would my job recruiter want me to form an LLC?

What are the benefits of forming an LLC when contracting for a high-paying job? My recruiter is asking me to do some tax things that I don't really understand. He's also a bit of a snake so I am ...
1
vote
1answer
179 views

How to report a personal expense for an LLC partnership paid in one year and reimbursed in another?

My business partner and I have a very small partnership LLC. This is my first year filing IRS tax forms for the LLC. In late 2014 I made a $30 purchase (from my personal money) on behalf of the LLC. ...
3
votes
1answer
54 views

EIN for personal LLC: Is this an S-Corp?

I'm currently a software developer, and it looks as though I'll be transitioning to doing 1099 work much more often than W-2 work. As such, I've decided to open a personal LLC in the State of Florida. ...
1
vote
1answer
33 views

LLC in states with customers with and without employees in the state

I work out of my home office, I do not have a business office setup. I did register an LLC in the state of Oklahoma where I live. My question is, two fold: If I hire someone in Utah to do sales ...
2
votes
2answers
143 views

Starting a LLC in the US from India - Am I self-employed or salaried?

I am Indian and I am planning to form a LLC in Delaware for my web development business (it will not have any physical presence in the US). It will be single member LLC to start with. So in India ...
2
votes
1answer
80 views

Where should I start my LLC?

I want to release an iPhone app to the App Store and want to put my company name as the app's "seller" field. I was thinking of starting an LLC because I'm working alone and want to hire a developer. ...
2
votes
1answer
66 views

How to move (or not move) an LLC from Illinois to New Mexico?

I'll be moving from Illinois to New Mexico soon and am wondering the best way to deal with my LLC. It is a design services LLC, electing S-Corp taxation. Currently revenues are all over the place - ...
1
vote
1answer
3k views

California LLC statement of information filing (LLC-12R)

I received a notice that my California LLC is required to file another statement of information filing. It requests that I use form LLC-12R, however, I can only find LLC-12 listed on the official ...
2
votes
1answer
84 views

What factors to consider for deciding between forming an LLC vs taking insurance on rental properties

My friend and I (both living in California) want to buy a couple of rental properties (one in Texas and other in Florida). Looking through the various websites and forums on the internet, we could ...
1
vote
1answer
130 views

LLC: Where should the funds for initial startup costs come from?

I recently created an LLC (with myself as the only member) and I have some initial costs (website, P.O. Box, etc.) that I need to finance. Can I pay for those out of my personal bank account or do I ...
0
votes
1answer
68 views

Does an online business selling across the USA would need to file for foreign qualification in each state?

I have been looking at the rules for an all online transactional company. If I make sales in all US states, do I need to file for foreign qualification if I have a Nevada LLC?
1
vote
1answer
89 views

I'm contracting from London for a company based in Paris, and they require Proof of Residence for my Ltd Company. Where can I get this?

I've already gone through the process to obtain a "Proof of Residence" letter on the HMRC website. Once the application was completed, the email I received stated about applications in general that ...
1
vote
1answer
551 views

Setting up a LLC for two partners in different states, what should we look into?

My friend and I are looking into starting our own design agency. The LLC would be based out of Texas, but the other employee would be based out of North Carolina. We would both be full time employees ...
-4
votes
2answers
393 views

Can stock market gains be better protected under an LLC arrangement?

As I understand it, if one has a business, profits can be reinvested to show zero net profits, so as to avoid tax. (I could be wrong about this, feel free to correct me.) I'm wondering if one can do ...
1
vote
0answers
70 views

What can I claim when there is a loss in the business?

I purchased 49% shares of a LLC business(Paid $150,000) and the business is claiming a loss of $ 130,000 for the 2014 year. I worked full time at the business but did not take a paycheck at all. Can ...
0
votes
1answer
93 views

Can my non-US-resident LLC partner file a 1040NR-EZ?

One of my partners is a non-US-resident. Our LLC is based in Delaware, and we are subject to pass-through taxation (where we declare our share of profits/losses as income). In principle, this ...
1
vote
1answer
696 views

Is there a way to open a U.S. bank account for my LLC remotely?

I'm operating a company remotely — I'm not in the U.S. Is there a way to open a bank account without going to the U.S.? I've called a few banks and most of them require myself to go the a ...
1
vote
3answers
150 views

Received Check as Business Before Having Funds to Start the LLC

I've received a payment and will continue to be receiving payments contingent on me getting paid as an LLC. The problem with that is, is that starting an LLC is expensive and I don't have the funding ...