as a consultant or own your own business, you may consider hiring an accountant to ensure you don’t do anything wrong. However, I own a solo member LLC business myself and did my own taxes and created the schedule C just fine three years in a row without...
An LLC can be established by one member (being an individual or organization), which is known as a single-member LLC (SMLLC); or it can be established by two or more members, up to fifty, which is known as a multi-member LLC (MMLLC). For LLCs, the liabilities of its members are...
28 Are there any significant transfer taxes, stamp duties, etc. to be taken into consideration? Ad valorem stamp duty is chargeable on a lease or agreement for a lease of immovable property with average annual rent exceeding S$ 1,000. Buyer's stamp duty is payable at up to 3% on ...
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Taxes: Using a DBA does not create a separate legal entity. It does not affect the owner’s legal liability or tax obligations. The legal business entity remains responsible for all debts, contracts, and legal actions. If a sole proprietor uses a DBA, they are still liable for business ...
Under the ICR, the deduction of net interest expenses (i.e., interest expenses less interest income) is generally limited to 30% of the taxable earnings before interest, taxes, regular depreciation and amortization (EBITDA for tax purposes) of a given business. Starting January 1, 2024, the ...
For example, a company might be subject to taxes in its native or resident country, and also in another foreign country where it has raised income by providing labor, or via a foreign invested company that provides goods or services. Double Tax Avoidance Agreements (DTA) ...
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Whereas, Zakat base additions are mainly equity items and long term debts, while Zakat base additions are mainly long term assets and investments not held for trading. In addition, under KSA tax legislation, taxes should be withheld from certain payments (or deemed payments) made to non-...
However, electing a DBA does not provide the same legal protections as having a separate business entity, such as a Corporation or LLC. Every day, people inquire about setting up a DBA for their Delaware LLC or Delaware corporation. Business owners often choose to operate under multiple, ...