Tagged Questions
0
votes
1answer
72 views
Can I set up a retirement plan for an LLC with negligible income?
I am currently working as a W2 contractor, with no access to a 401(k) plan through the contracting agency. However, I do own an LLC, with, unfortunately, negligible revenue earnings. Here are my ...
1
vote
1answer
929 views
What does “LLP” stand for in the name of an organization?
What does LLP stand for? As in the example name "Flood Law Group, LLP".
4
votes
1answer
97 views
How does LLC ownership work in relation to U.S. tax law?
If an established LLC business offers ownership to a new member, will that member owe federal tax even though that member has still not realized any gain?
Let's say for example the LLC is worth $10M ...
4
votes
2answers
487 views
What are the tax implications of lending to my own LLC?
Well, as I mentioned before, I'm buying rental property under the name of my LLC (California). I used cash for the purchases, but the initial investment I made in the company was not enough to cover ...
1
vote
1answer
142 views
Can a single-member LLC have a fiscal year not as the calendar year?
Well, the title pretty much is the question. I'm in California, and its a disregarded entity. It matters for the LLC tax, and a positive answer will save me $800 cash. With references please, ...
7
votes
1answer
118 views
How does one's personal credit history affect one's own company's credit rating?
Quick background: I have no intention whatsoever on actually getting any loan. However, to accept online credit card payments (eg. via Paypal Payments Pro), merchant account providers determine ...
4
votes
1answer
142 views
Foreign company incorporated in US and W9
I own a translation company and my clients are reluctant to contract a provider based abroad, although I have a US Bank account, US tel, US PO Box (I lived in US for a while). I need to be able to ...
5
votes
3answers
309 views
I am the sole owner of an LLC. Does it make a difference if I file as an S-Corp or a sole-member LLC?
As an LLC with one owner, I had the option of filing using Schedule C on my household taxes, effectively treating business income (in this case, losses) as I would a sole proprietorship. My plan had ...
1
vote
1answer
107 views
Costs associated with starting an LLC in Massachusetts?
I am going to be starting a LLC business (wedding photography) and I was curious about the associated costs. The business will be registered in Massachusetts. I understand that an exact number may not ...
4
votes
3answers
737 views
What's the difference between TaxAct and TurboTax?
I've always used TurboTax, but found an edition of TaxAct that will do state, federal plus schedule c for about 33 percent of the price of the Turbotax edition? Does TaxAct not do some important ...
5
votes
1answer
322 views
Sole proprietorship or LLC?
At what point in the life of a small business would you choose to do a LLC over a sole proprietorship? What's the advantage, and what's the cost of doing an LLC?
6
votes
1answer
395 views
What are the benefits and downsides to an LLC vs. Sole Proprietorship vs. Individiual?
As a followup to my previous question, what benefits are there for an LLC vs. a Sole Proprietorship? What are advantages and disadvantages to both and also vs. just being paid as a person?
18
votes
4answers
774 views
When should I start an LLC for my side work?
I am doing quite a bit of sidework this year and wondering at what point would it be a good idea to "start a business" and bill through that.
