The IRS wants quarterly estimated tax payments based on an estimate of what the business will make that year. They want you to pay 100% of the previous year's tax over the course of 4 quarters or 90% of the current year's estimated income. However, since this is their first year in business and...
Yes, you should read Do More Faster by Brad Feld and David Cohen from Techstars. It gives you great advice on what to consider when starting your tech company.
International billing and taxation is usually managed by the government of each country, though there may be variations depending on local laws and regulations. Resources on international billing and taxation can be found online or through government agencies in each country.
If you're not an American or Canadian citizen + you have no physical location, you only pay your Estonian taxes.
866 951-0459 www.fiestainsurance.com/tax/services
I believe you have not had any answers to your question because it is not detailed enough. There are too many variables for someone to provide a comprehensive answer. Why are you closing the corp.? Were you the sole shareholder? Was the capital infusion listed as a loan on the corp. books? Who ...
Disclaimer: my business is based in the U.S. with little experience in the UK and EU. But I'm inclined to believe that if you are the entity legally importing the merchandise, you pay VAT. Your client would pay VAT only if the import documents list their name as the consignee. If you only wanted ...
Yes you should be reporting the capital contributions. Under the old Form 5472 rules, it's true that only items that impacted taxable income would be reportable transactions. So, a capital contribution by you to the corporation would not be reportable, unless the equity contribution was somehow...
Hi there, If you spend money with a service provider then your expense is their income. If you claim that your time over the years was an expense that added to the capital cost of your business, then who claimed that amount as income? If you try to do this, then a tax auditor may try to look t...
If you're a US citizen living outside the country more than 330 days/year, then you meet the Foreign Income Exclusion test. Talk with your tax preparer about this. If you meet this test, you're first $100K (roughly) is income tax free, if + only if you take the money yourself. If you run the m...