Small Business - Nerdwallet

Small Business

According to the U.S. Census Bureau, more than 99% of businesses in the U.S. have fewer than 500 employees and are considered small businesses.

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John C Brandy
John C Brandy
CFEd, AAMS
Redmond, WA
6 recent answers
Adam Funk
Adam Funk
CFP®, MSFP
Troy, MI
1 recent answer
All Questions: Small Business
NewPosted September 23, 2016
John C Brandy

John C Brandy

CFEd, AAMS

IRS Form 2553. When you file it, you elect to have your LLC treated as an S-Corp for tax purposes. That means that all profit and loss from the corp...

NewPosted September 19, 2016 · Chicago, IL
John C Brandy

John C Brandy

CFEd, AAMS

You'll want to run some of this by a CPA, particularly the stuff in your last paragraph, and her parent firm for who she is a broker will have an opin...

NewPosted September 19, 2016 · Washington, DC
John C Brandy

John C Brandy

CFEd, AAMS

You can file a form with the IRS (form 2553) to elect to have your LLC taxed as an S Corp. There's no switching required.

What happens then is that ...

Posted September 12, 2016
Adam Funk

Adam Funk

CFP®, MSFP

IRS rule says when you pay a person more than $600 you are supposed to submit a 1099-misc form to IRS and to the person. When you pay a company such a...

Posted September 8, 2016

Yes. I am assuming that you are organized as either a sole proprietorship or LLC? If so, the money used for the down payment would be considered an ow...

Posted September 6, 2016 · San Francisco, CA

Without detailed financial information I can't give specific steps but I can get you headed in the right direction. Public school is free. Investiga...

Posted September 6, 2016 · Austin, TX
Curtis (Curt) Sheldon

Curtis (Curt) Sheldon

AIF®, CFP®, EA, MBA

Consult with a local Enrolled Agent (EA) or CPA that specializes in tax resolution.

Posted September 5, 2016

Let's see if we can expand on this little bit. On the assumption your are a one person LLC you will be required to file a schedule C on your personal ...

Posted September 5, 2016
James Kinney

James Kinney

CFP®, CCPS

First of all, this is a situation you really want to hire a CPA to advise on. There are options such as spreading the gain over more than one year to...

Posted August 30, 2016

If the business paid $30,000 in taxes it had some income. The business situation has nothing to do with your personal taxes. If you owe $5000 becaus...

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