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where do I find information about a tax ID number for a business?

Sat, 06 Apr 2013 12:16:59 +0000

Question by luvsclowns: where do I find information about a tax ID number for a business?
I am planning to start a small business, but I need to apply for a tax ID number, where can I find this information on the internet? I need a EIN number for a business

Best answer:

Answer by cwy49
You can go to the irs website.

http://www.irs.gov/index.html

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Q&A: What to know about taxes regarding small businesses.?

Tue, 23 Oct 2012 15:21:04 +0000

Question by Andrew M: What to know about taxes regarding small businesses.?
I’m running several small businesses online. I’m 20 and I’d like to know what I should know about taxes and what things I should be keeping track of. I want to know more about all of the different forms as well (i.e. W2, etc. etc.) Thank you!

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Q&A: Small business i have questions about taxes. Please help?

Thu, 02 Aug 2012 23:48:24 +0000

Question by Ashley: Small business i have questions about taxes. Please help?
so im starting a cleaning company and i have no idea on how to do any of the taxes. do i pay every month or do i just pay once a year? do the offices i clean for give me the tax form or do i have to get it? im completely lost. please if someone could explain how to do taxes for a small business that would be great. its llc and im the only one if that helps….. Thank you so much

Best answer:

Answer by wartz
Hire a bookkeeping service to take care of this for you so you can concentrate on doing what you do best.

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If I wanted to start a small videography business, what do I need to know about taxes and liscenses?

Wed, 01 Aug 2012 09:22:38 +0000

Question by lilchikka2005: If I wanted to start a small videography business, what do I need to know about taxes and liscenses?
Do I have to tell the irs or whoever that i’m starting a business.. or do I have to even if im not making much money? Is there a certain amount that has to be reached before I have to file taxes for my business revenue?

Also do I have to have a liscense of some sort. P.s this is out of a home, not an office..

Best answer:

Answer by Omaha
Find a lawyer and an accountant that you can trust. This is simple stuff, but its worth spending a couple hundred bucks to have everything done right. Its also worth cultivating a relationship with those professionals, as they will serve as a key point of networking for your business.

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Small business tax question about a charitable contribution.?

Thu, 28 Jun 2012 18:37:37 +0000

Question by cbsb: Small business tax question about a charitable contribution.?
My husbands business donated to a qualified charity but I cannot find where to enter it in on the schedule C. Do I put it under advertising? I know that is where I put the sponsorship of a sports team. And please do not tell me to ask an accountant we know we will only get about $ 80 back so paying someone $ 400 is not feasable. If you have any answers please let me know.
He donated cash to a qualified organization

Best answer:

Answer by v b
The charitable contribution goes on schedule A, as usual. If you don’t itemize, too bad.

There is no place on schedule C because you don’t get a charitable contribution as a business expense.

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question about small business and taxes.?

Mon, 25 Jun 2012 13:46:43 +0000

Question by LA B: question about small business and taxes.?
I have been taking pictures for friends… literally just start last week and was Does anyone know when you become a small business and not just someone taking pictures (for a small fee, editing is a lot of work!) for your friends? I don’t want to get into trouble making the transition. I have looked at the State (Tx) Comptroller website but it doesn’t really answer this question. Any help would be really appreciated.

Best answer:

Answer by Judy
As soon as you get paid for your work, you basically are in business. If you make $ 400 or more for the year, you have to file a federal return and report it – under $ 400 total, you don’t.

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How do I go about setting sending in taxes for both fed and state taxes (monthly?) for my small business?

Thu, 07 Jun 2012 23:16:52 +0000

Question by dar: How do I go about setting sending in taxes for both fed and state taxes (monthly?) for my small business?

Best answer:

Answer by jen
Pay quarterly estimated taxes. You can go to IRS.GOV Keep in mind you are guessing what you are going to make for the year. You can adjust them as you go If you make more pay more if you make less pay less. You just want to make sure at the end of the year that you do not owe more than 999.00 to the IRS. I’m not sure about your state. look up department of revenue for you state on the Internet most states have them.

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Q&A: What do I need to know about taxes for a small home business?

Thu, 10 May 2012 03:42:09 +0000

Question by The Naughty Librarian: What do I need to know about taxes for a small home business?
Would this just be part of my individual taxes? How would I claim my income? Gross or net? etc…

Best answer:

Answer by Mathew
Most home based businesses use Schedule C to report the income and expenses from their activity. You are taxed on the net.

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Q&A: Obamas small business tax plan, question about it?

Thu, 03 May 2012 18:15:08 +0000

Question by punkydoodle218: Obamas small business tax plan, question about it?
Ok I have heard after reading on yahoo answers two different versions of Obama’s tax plan for small businesses. One said that businesses would be taxed on net and the other said on gross, who is right? Thanks

Best answer:

Answer by mbublegirl1
Always gross.

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Question about minors owning a small business and taxes?

Sun, 22 Apr 2012 13:19:43 +0000

Question by freakyanimeluver: Question about minors owning a small business and taxes?
Me and my friend are both 16. We have been wanting jobs, or some source of income, for the past couple years. There really aren’t a lot of places around us that are willing to hire teens, it’s usually 18 and up. We have decided to make our own business and we plan to do more research on starting a small business over the next couple months. Business is something we are both interested in and plan on making it a career someday, so we are interested in learning a lot about it. We find it extremely fun to learn about. It’s not going to be some huge business that makes lots of money each year, but it’s not exactly going to be as small as like, lets say a lawn mowing or baby sitting business (not interested in doing those.) So i’ve asked my friend about this before but she knows about as much as me, which is little, if we were able to make money lets say 10,000 a year (which we would evenly split) do we have to do anything about taxes? Lets see, tax forms or tax returns or something like that I think they’re called, basically what small business’ do . I’m sorry it’s not a very descriptive question but I don’t know a lot when it comes to this sort of stuff >.> and i’m hoping some of the answers will get us pointed in a good direction to further our research. I’m not sure if this matters, but most of the money we make will be going into our savings accounts…college isn’t that many years off so we want to start saving as soon as we get some money coming in.

Thanks ^^

Best answer:

Answer by Ed Atun
You can legally do this. You have to protect yourself and your customers in 2 ways. You are too young to sign business contracts. So keep all of your “contracts” small handshake deals. Do every bid on a per-job basis. Nothing long term.

You can not incorporate and you can not grow too fast. Accept only cash for all dealings for the first year. Later you can accept checks, but not credit cards until you are 18.

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