Recent content by tax_guy

I would ALWAYS recommend staying away from the Sole Proprietor if possible. LLC is a good business organization, you might also want to look up S Corp. Switching from Sole Prop to LLC or S Corp is a great way to protect yourself from lawsuits and such, and it usually ends up saving my clients...

OP, have you thought about incorporating? you will be eligible for many more deductions if you incorporate...but the paperwork can be confusing. there's really no way to "Get around it", but you can minimize your tax by lowering your income. An advantage of incorporating is that you don't have...

What's your skype name? I can't send pm's yet. Your questions: 1) You can deduct any expenses related to your business...and you're right, you're only taxed on your profit. As far as student stuff: if you're in your first 4 yrs in college, you might actually get money back depending on how much...

ok, sorry I'm not familiar with UK tax law...

can you tell us a little bit more about your business? that'll help tell what type of business solution fits you. feel free to PM me directly...

OP, you've already gotten some really good advice. Please allow me to add a little bit more advice... the whole incorporating in DE thing is a big mess if you ask me. My clients ALWAYS ask me about that (b/c there's NO corp tax in DE). it sounds good, until you realize that you will be...

wow! i can't believe ppl are actually asking for a "high risk account". that's the first ive heard of this. truth is...there's no such thing, and if there is, its illegal LOL

Nathan, I'm assuming you live in the US...if so, expect to receive a 1099-K for 3rd party network payments. Mind you, this is considered to be different than a 1099-M or 1099-G for instance. Accordingly, it'll be taxed different than other forms of income and of course, the deductions will be a...

scriptox, where are you located (country)? I'm familiar w/ US business formation law...please let me know. you too, Dell12345.