I would suggest you consult a tax accountant in your area. I would even speak to a couple of them. Their advice can be quite different with regard to a legal entity you should choose for your business (I assume you haven't done that yet). The tax implications of different legal entity types (Sole proprietor, partnership or corporations) are very different and it's really important to know them before getting started.
By the way, many of my clients have corporations, partnerships and sole proprietorships based in their homes...
BizResearcher | Window Shopper |
3/30/2010 - 8:23 am
If you have a business, you must pay taxes regardless of where the business is located. You may need to pay federal and state income taxes and, if you sell a product, sales tax.
as they say, 2 things are certain in life: death and taxes. Any income from any source is taxable.
Enforcability is a different story, but if there is one enemy you dont want to have its the irs. Get your tax arrangements sorted now, or you will apy the price later
avoiding a foreclosure is something everyone wants to do - if you're facing
foreclosure get educated and you just might save your home.
lucy | Creator | 4/2/2010 - 9:08 pm
BizResearcher | Window Shopper | 3/30/2010 - 8:23 am
ChristineL | Former Moderator | 3/26/2010 - 8:40 am
ForeclosedHomes | Window Shopper | 4/4/2010 - 2:14 pm
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