First: Get out of California. Move to Texas or Tennessee or Florida, where taxes are far lower. This single step will solve many problems. Next: Work with an attorney to answer your questions. Also a tax professional. Cheapest tax professional you can hire is H&R Block Executive Tax Services...
So, you are looking for leads to call you. That's a very good idea. Cold calling is not the solution. Don't get me wrong, cold calling works. I have successfully built a company using cold calling. But that was some time ago and now it's extremely difficult to get people on the phone. The solu...
Yes… a corporation (entity type) that has taken a c-election (tax election) can be the sole member of an LLC which owns all the shares of another corporation (entity type) that has taken an s-election (tax election) - but the LLC must not elect to be treated as a disregarded entity. Note that en...
You can build based on your traffic a fee for backlinks based on industry and it could be a price list for 1 star, 2 stars, 3 stars, ..., 5 stars. By saying so you can stimulate entrepreneurs and blogers to engage people to vote on a small widged you can build and put on their website in order ...
You can still do business in CA regardless of where you incorporate. You'll still need to pay taxes in CA, but the benefit Nevada provides (like Delaware) is pro-employer legal language and well defined laws. The other benefit is if you take financing later from an investor, they will appreciate ...
I am not an attorney nor an accountant. This is not "professional advice". An S-Corp is like a pipe you run water (revenue) through for tax benefits. An LLC is a more rounded entity. If you're planning to raise money, issue stock, or sell the firm, the LLC is the better choice. My accountant ...
As a business owner, I face similar issues myself. I'm sure you already know this but for something like this, you really should consult a lawyer and a tax professional. Having said that, the cleanest and safest way to do this would be to dissolve the current S-Corp and create a new one under a...
If you're a US citizen living outside the country more than 330 days/year, then you meet the Foreign Income Exclusion test. Talk with your tax preparer about this. If you meet this test, you're first $100K (roughly) is income tax free, if + only if you take the money yourself. If you run the m...
If you are flipping real estate, an S corp may be better than an LLC. Flipping income can easily be categorized by the IRS as “earned income” and thus subject to self employment tax through an LLC, particularly if it is single member. An S corp will shield part your income from this tax. Always ...