If you have a small business (or want to start one), what blockers do you feel exist that are preventing you from growing (or starting)?
What are the day-to-day pains and fears you face?
What...
Type: Posts; User: Jschultz; Keyword(s):
If you have a small business (or want to start one), what blockers do you feel exist that are preventing you from growing (or starting)?
What are the day-to-day pains and fears you face?
What...
Wheels
Partners in a S corp must take proportionate distributions. It sounds like you understand that. And that is essentially your problem.
My suggestion is to talk to your accountant and see...
It is either some sort of capital contribution or a loan.
I do not think that you need to change the entity to a CA LLC
I do not see an issue with the presentation. Going forward you should take some sort of W2 wage. You cannot go back retroactively and create a W2. But any S Corp owner participating in the...
I disagree with the position Zach took.
An accountant is an Asset to your business. It is never too soon to consult one.
You will likely have to file tax returns in both countries. USA residents have to report their worldwide income on the tax return. US residents do however receive a credit against that tax for any...
Some things to think about:
1. sometimes taking a mileage check instead is more effective
2. Often insurance companies will charge higher rates for cars owned by businesses
3. Sometimes fiance...
Jim
Your business will receive a tax deduction for reimbursing your employees for mileage. Understand that the .30 per mile is much less than the federal rate which is about .55 per mile for...