The return is due March 15 for the previous year. Your S-corp doesn't pay taxes, it files a form 1120S informational return. The 1120S produces a form k-1 that states your share of the companies income and other items. You report that k-1 on Schedule E of your Form 1040 in April. You have to file...
Basically, any money you put into the business with personal funds is a loan into the business to be paid back. Lets say you put in $10. At the end of the year you profit $100 dollars. That $100 goes back to you as owner, however only $90 of it is considered taxable money since the 10 is just a p...
I believe in MVP (Maximum Validated Product). The more you get customer/user validation, the more robust and complete the product becomes. It's smart to begin testing immediately to collect data that can help road mapping for the next product build improvements. Launch early with a few lighthouse...
In my experience a technical co-founder's primary responsibilities are to be a visionary first, a hacker second and a manager third. first you recruit a tech co-founder to help visioneer what your product can, will and should do. then you have them support the one key part of the development pr...
Most Software as a service vendors generally don't book annual deals except in highly specialized cases. Most customers prefer to be able to cancel/change anytime they choose. Also, deals done "offline" end up actually often being more trouble than they are worth to administrate especially for ...
I have been approached to advise companies with this arrangement. In the arrangement I was considering, the options simply turned to ownership but there was an end date by which the distribution had to be paid. Hope that helps!
Can you demonstrate value for them? All the words you're using here are very negative; you need to find a positive spin because I'm not going to pay for something which sounds so negative.
Just do it! No, seriously, I'd not recommend to talk to someone, because it basically is more a thing of getting to know the interface and the quirks of doing x and y. I'd neither advise someone to start using a 3rd party if you do have someone who can invest a bit time to learn the platform. H...
You must be very careful about this type of loan, as doing this wrong can have profound tax effects. This is called imputed interest penalty. So the IRS can determine a loan was paid back incorrectly + ascribe some random interest rate, then require you pay back taxes + penalties on whatever rate...
The only way that I can think of is to get a legal adviser on the management/board team and give them an equity stake in the company. Long-term, it's likely to cost you more in real terms though.