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...
Liability and 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 fo...
Your reporting shows the difference = the Net Income, which is part of taxes. Examples: I buy $100 of Stamps to use for your project, and I charge you $100 for that cost, at Cost. That means I have $100 gross Postage expense and $100 Gross Sales R...
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Most nonprofits and charities report their taxes on a schedule H or Form 990, which only has to report the officer’s compensation as well as monies given to charitable organizations, or other 501 organizations. The nonprofit would show a balance of zero as the donated money for that year ...
No land transfer taxes apply to the sale of real estate. However, stamp duties apply to the registering of real estate with the relevant land books. As a general rule, the buyer will be required to pay the notary fees along with the Land Registration Office fees. Sale of Romanian propertie...
An LLC is a type of business structure. A DBA means you're "doing business as" a different name from your own. You can have an LLC that is registered as a DBA, so neither one is necessarily better. It depends on how you want to name and register your business and pay taxes. The...
C8. Tax 25 What main taxes are businesses subject to in your jurisdiction, and on what are they levied (usually profits), and at what rate? The main taxes payable by businesses in Singapore are corporate tax and goods and services tax. The corporate tax headline rate is 17%, although ...
Native residents of countries that are signatories to DTAAs with Vietnam are subject to the relevant taxes in their native countries. A person or organization is typically considered a resident if they own residential property, have resided in the country for a certain amount ...
In addition, under KSA tax legislation, taxes should be withheld from certain payments (or deemed payments) made to non-resident parties by Saudi-resident entities / permanent establishments. WHT rates vary between 5% and 20% depending on the nature of the payment. Who is subject to income ...