Computing tax obligations when a partner liquidates his partnership interest can be simple or extremely complex. The tax liability will depend on the structure of the partnership agreement and the history of transactions that have occurred with the partners. The sale actually has no effect on the c...
At tax time, just report it on Schedule C with your personal tax return. Doing Business As (DBA) “Doing Business As” (DBA) or a “Fictitious Business Name” (FBN) registration is not technically a legal structure. It allows you to conduct business under a name other than your own....
Your small business taxes are based on the type and structure of your business. If you recently started a small business, you might be wondering which forms you need to file and what your tax obligations are as a business owner. Check out this small busi
Imagine you’re operating a construction company, and you partner with an international building material supplier to build a new real estate. When entering into the partnership, both parties would have issued a bank guarantee to prove their financial capabilities. You might also want to take ...
Decide how and when to join accounts. The old-school strategy may have been to throw your savings into a shared account. But today, couples are often entering marriage or partnership with years' worth of their own savings, investments, credit products – and sometimes children and divorce decre...
Lisa Greene-Lewis, a certified public accountant and TurboTax spokesperson, says that even if you don't receive 1099s, "it's important to keep careful records and track all income under these limits, as you still need to report all income regardless of whether or not you recei...
Working for yourself has many benefits. You never have to report to a boss and can set your own hours. It also has a few added tax requirements. You have to pay taxes quarterly instead of with each paycheck as a W-2 employee would. ...
Start your business with our step-by-step guide. From writing a business plan to choosing a business structure to branding, marketing, and financing.
Be careful not to commit to a product that will lose interest as quickly as it gained it. Once you’ve brainstormed a few good ideas, take some time to make sure that it’s a realistic item to sell. Ask yourself if your item is easy to ship, where you can sell it and whether ...
limited partnership, limited liability company or corporation,” Morgeson says. “Conceptually, the partners/members/shareholders obtain proportionate share interest in the particular structure based upon investment amount, which structure/entity then holds title to the real property as a business entity ...