Questions tagged [business]
generic tag for questions related to small business. Related tags corporation, limited-liability-company, s-corporation, limited-partnership, sole-proprietorship can be used as appropriate.
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Employer wants me to get an EIN for contract work. Is this okay, and if so, what kind should I choose?
I recently got offered a job opportunity to do contract work with an IT company. But along with all the usual paperwork, it's mandatory that obtain and submit an EIN.
But I'm not sure which type I ...
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Freelancer, Schedule C, Deductions for MEALS in 2018-2025
This question is specific to sole proprietor freelancers who (a) network with other freelancers, (b) sometimes outsource their work to other freelancers but never employ someone, and (c) file a 1040 ...
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NPV in trade projects
The question must be very simple but I'm still struggling.
Let's suppose that I have an import-export business. Then I have a discounted CF which is formed by subtracting all costs & taxes from ...
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Is there a liabilities equivalent of the statement of cash flows?
When I consider the three major accounting statements - profit and loss, cash-flows and balance sheet.. there does appear to be some missing information about the change in liability throughout a ...
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129
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Can You Switch Between Actual Expenses and Per Diem Expensing For Meals / Entertainment?
I currently report the actual costs for my meals and entertainment expenses on business trips. I am thinking about switching over to the Per Diem method.
Are there any regulations against using both ...
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106
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How to do financial planning?
I'm not doing this for any entity other than me. I run a business and I'm doing some financial goal-setting for the next few years. What I'm trying to achieve with this is setting numeric goals with ...
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Purchased business can i keep EIN
I purchased a small business, it is inc. I kept the name etc., do I have to obtain a new EIN or can I change the ss information and keep the current number
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US Permanent Resident holding partial stake in a European company
I'm a permanent resident living in the US and would like to invest some money in a company run by my family back in Poland. I'm trying to figure out how to do this and what kind of tax implications it ...
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general expense vs capital expense
If the water main outside of my business has ruptured and I paid the entire $10,000 to have it repaired can I write that off as a general expense on the business or do I have to depreciate it?
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Does business credit score transfer over when you incorporate from a sole proprietorship?
I have a newly registered sole-proprietorship in Canada that I am trying to build credit for. If later down the line I decide to incorporate my business, will the business credit score from my sole-...
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How common is it for an executive to sell more than $50k in shares without filing a 10b5-1 plan?
So with regard to the Equifax hack and the sale of shares by three executives, we've read that:
Filing a 10b5-1 plan and selling shares on a set schedule is an affirmative defense against insider ...
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Selling utilities to an LLC
So, first I'd like to say the LLC has been setup, and no we have not "finished" all aspects of the business. Meaning, it's legal but we're ironing out a lot of loose ends, and will be consulting a tax ...
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UK Business rates if multiple businesses/partners operate in the same unit
I can't find an answer for this anywhere...
If a business property is rated at £10k and we figure out the business rates as such:
£10,000 (rateable value) x £0.462p (multiplier) = £4,620 (basic ...
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22
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Filing a UK Company Tax return for 22/23- is it possible to bring back a trading loss from 23/24?
Whilst filing my UK company tax return for the financial year covering 22/23 in the section 'Trading losses', under 'Bring back a loss from a later period' is states the following:
You can only bring ...
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31
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Why is the UK Corporation tax payment deadline before the company tax return filing deadline?
I've returned to contracting (as a software engineer) after 8 years of full time employment and am now working through my own LTD company.
I mistakenly thought - as is the case with self assessment - ...
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Can I sell my business car to myself (personal)?
I am seeking to change the ownership of my vehicle from my business to myself? In other words, the vehicle will no longer be used for business purposes - just for personal.
Now, my accountant ...
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Term For Business Entity Founded With The Sole Purpose Of Holding Non-traditional investment?
I've done some searching but have been unable to find info on what I'm specifically looking for. My guess is there's a specific term for this type of business that I don't know.
Suppose I want to ...
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57
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If a single owner LLC is closed in Jan 2020, does the company owner still file a return in 2021?
If someone has single owner LLC in California USA and if he/she closes the company in Jan 2020, do you still have to file business tax return in 2021? Specially if company has elected financial year ...
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129
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Can I deduct an office space rental if I am not self employed?
As a remote worker, I'm looking at renting an office space $250/mo. I am not self employed but instead working for a company.
Is this expense tax deductible?
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