Question by Christy: How much do you have to earn in profit in a small business to report it on your taxes? I’ve been selling some of my crafts recently (a little here and there to friends), and I don’t want to get in trouble for making money and not reporting it. I’ve been thinking ...…
Question by Onesisthe: Are small businesses taxed at a different percentage then regular jobs taxes? I know jobs you pay by how much you make. 15% if you make 8-32 thousand, 25% if you make 32-78 thousand etc. Is there a set rate for small business or does it work the same? Best answer: Answer ...…
Question by sunnskye: Does a small business owner save taxes by including his own salary as an expense? If the salary is included as an expense, then the income tax for the business is less, but of course, the owner has to pay his own income tax. So is it better to not pay yourself ...…
Question by Mandy: How does a small business owner do their taxes? Employees get their W2 forms in the mail in January, but how do small business owners take care of that sort of thing? What should I know before the end of the year? (I have an at-home business and this is my first ...…
Question by Brittney: How to open up a small business on the internet? Taxes? I was planning on opening up a pageant crown/tiara business only on the web. I was wondering do you have to have a license or anything to have a business on the web? Do you have to pay taxes? How do ...…
Question by April R: If my business donates time to a non-profit, can I do that work in my home office and still claim on taxes? I am claiming a home office on my small business taxes. Since that space must be ONLY used for my business to qualify as a tax-exemption, if my business ...…
Question by business owner 589: When and how does small business taxing work? Background info–I started my business in June, during the month of June I didn’t not receive any revenue–but I paid out of pocket for all business expenses personally. Then starting in July I was paid. But didn’t not have my LLC set ...…
Question by Bob Jackson: Small Business loss. Taxes. How does it work? I have operated an LLC for 1 year now an d I’m getting ready to file with HR Block premium. My business expenses total over $ 20,000 dollars. The business made about $ 6000. I work and have a daughter also and made ...…
Question by Brian H: What is a small business tax write off? Can some one tell me in simple terms what a small business tax write off is I think I know but it sounds to good to be true. Best answer: Answer by bostonianinmoAny expense that is reasonable and necessary for the production of ...…
Question by Travis S: What do you have to do as far as taxes go to open up a small business? I just want to know how you file taxes when you own a small business. Best answer: Answer by AnnieGDepends on how you have structured your small business. If you are a sole proprietorship, ...…
