United States

How do I retroactively transfer personal income to my new business?

I am about to start a new business entity (probably an LLC), but I have already been earning income (intended for this business) under my name and personal bank account, since the LLC has not been formed yet and I do not have a business bank acount yet.

Tags: Business Bank, Business Name, Earning Income, Personal Income Tax, Start Llc.

Filed under United States by admin on Nov 17th, 2010.

How does depreciation work for business?

For example, say a business bought an asset that cost $100,000 and it has an economic life of 10 years, does that mean the business gets to write off $10,000 a year for 10 years in taxes, or am I understanding it wrong? Is there a limit to how much a business can write off in depreciation? Thanks

By: BigE

About the Author:

increase page ranking

Tags: 10 Years, Depreciation, Economic Life.

Filed under United States by admin on Nov 13th, 2010.

Are business expenses deductible if paid for with personal money?

My boyfriend and I recently started up a small home business, and being that tax season is coming we were wondering on something.

1. What percent of a tax preparer’s and accountant’s fees are tax deductible for our business?

Tags: Accountant, Business Owner, C Corporation, Personal Money, Tax Preparer.

Filed under United States by admin on Sep 9th, 2010.

Can you have a business license and still receive unemployment assistance?

Right now I’m receiving unemployment benefits but I’m looking to start a business next month. Can I have a business licenses even though I’m not planning to do business for the next 3 – 6 months. Would that affect my unemployment?

Tags: Business License, Business Licenses, Start A Business, Unemployment Assistance, Unemployment Benefits.

Filed under United States by admin on Sep 4th, 2010.

Home-based Business. What if I have next to nothing coming in for how much I am deducting in taxes?

I am looking into setting up a home based Business as a part time thing. I have a day job and I would like to do this music endeavor on the side. I want this to be legitimate but I know I will be making very little money and writing off a lot in tax deductions. Does anyone have experience in with this type of scenario? Is there a reasonable expectation that IRS has around how much revenue needs to come in for how much you are writing off? I don’t want the Business to appear fraudulent although I have more to gain from a tax deduction basis.

By: rothchristian

About the Author:

Marketing Strategy

Tags: Day Job, Expectation, Home Based Business, Taxes, Time Thing.

Filed under United States by admin on Sep 4th, 2010.

If you invest money into your business and the business loses money, how do the taxes work?

I want to start a business and I know most lose money in the beginning so I was wondering how the taxes work between filing business tax returns and personal tax returns. I wasn’t planning on doing a DBA so there would be two returns but do I claim business loss of revenue AND personal loss of investment?

By: thebuffettour

About the Author:

Marketing Strategy

Tags: Business Tax Returns, Business Taxes, Invest Money, Money Work, Start Business.

Filed under United States by admin on Sep 2nd, 2010.

Can my business start up expenses still be deducted?

I’m starting a business but I don’t have a business bank account yet because I’m still waiting for everything from the state. But I don’t want to wait to begin preparing and buying the things I need so I’m using my own money. Can I still get a deduction from my start up expenses when the time comes?
Thank you!

By: Brittany

About the Author:

marketing business

Tags: Business Bank Account, Money, Starting A Business, Starting Business.

Filed under United States by admin on Sep 2nd, 2010.

Transitioned business from proprietorship to LLC – How to file taxes?

I transitioned my business mid 2007 to an LLC. Should I file taxes as two separate businesses? The first to include income and expenses as the sole proprietorship and the second to include income and expenses after becoming an LLC.

Tags: How To File Taxes, Llc, Sole Proprietorship, Tax Id.

Filed under United States by admin on Aug 26th, 2010.

For business owners: How do you start your own business and register your company’s name?

I am starting my own home-based business. I hope I can expand it outside of the home in a couple of years, but until then I just need to know how to start it. Like tax wise how do I go about registering and do I have to get a Tax id?

By: Kia25

About the Author:

it marketing strategies

Tags: Business Owners, Business Register, Start Business, Starting Business, Tax Id.

Filed under United States by admin on Jul 28th, 2010.

I’ve been filing a business write-off on my personal taxes. How do I close out the business on my tax return?

I am a writer who has filed business write-offs on my personal tax return for 5 years as per the law. I have not made profits in those years. I have been advised by my accountant that tax regulations do not favor my continuing to file business write-off because I have not made a profit so should close out the writing business. How do I go about filing my taxes now? Do I just ignore the past years write offs as thought they were never deductions?

By: sullivan_vl

About the Author:

Marketing Strategy

Tags: Accountant, Business Tax, Business Write Offs, Personal Tax Return, Profits.

Filed under United States by admin on Jul 28th, 2010.

1 2 Next »

United States

How do I retroactively transfer personal income to my new business?

How does depreciation work for business?

Are business expenses deductible if paid for with personal money?

Can you have a business license and still receive unemployment assistance?

Home-based Business. What if I have next to nothing coming in for how much I am deducting in taxes?

If you invest money into your business and the business loses money, how do the taxes work?

Can my business start up expenses still be deducted?

Transitioned business from proprietorship to LLC – How to file taxes?

For business owners: How do you start your own business and register your company’s name?

I’ve been filing a business write-off on my personal taxes. How do I close out the business on my tax return?

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