Taxation

Can my S Corp buy my house? An S corporation, C corporation and a limited liability company (LLC) can all buy real estate, and these business entities shield your personal assets from business losses or lawsuits. Read more on smallbusiness.chron.com You may have asked if your S corporation might buy your home if you are … Read more

How do I apply for a resale certificate in Indiana? Indiana does not require registration with the state for a resale certificate. How can you get a resale certificate in Indiana? To get a resale certificate in Indiana, you will need to fill out the Indiana General Sales Tax Exemption Certificate (ST-105). Read more on … Read more

How much is sales tax in Boise ID? What is the sales tax rate in Boise, Idaho? The minimum combined 2022 sales tax rate for Boise, Idaho is 6%. This is the total of state, county and city sales tax rates. The Idaho sales tax rate is currently 6%. Read more on www.avalara.com The sales … Read more

Does an S Corp pay taxes in New York? Paying tax as a shareholder of a New York S corporation. Shareholders pay New York tax on their pro rata share of the S corporation pass-through items of income, gain, loss, and deduction that are includable in their federal adjusted gross income. Read more on www.tax.ny.gov … Read more

How can a sole proprietor write-off taxes? As a sole proprietor, you can deduct most of your regular business expenses by filling out a Schedule C, Profit (Or Loss) From Business, and turning that over to the IRS along with a Form 1040 tax return. Read more on smallbusiness.chron.com You are liable for paying taxes … Read more

What is sales tax in Utah for car purchase? In Utah, Salt Lake County collects a 7.25% state sales tax rate on the purchase of all vehicles. All dealerships may also charge a dealer documentation fee. In addition to taxes, car purchases in Utah may be subject to other fees like registration, title, and plate … Read more

Do nonprofits have to charge sales tax in Massachusetts? Read more on www.mass.gov Nonprofits are businesses established without the intention of turning a profit in order to meet social needs. They support a number of social causes, including those related to healthcare, education, and eradicating poverty. Massachusetts offers a number of tax breaks and perks … Read more

What are Texas gross receipts? Texas Tax Code Section 171.103 defines gross receipts for a business as the sum of: Each sale of tangible personal property if the property is delivered or shipped to a buyer in this state regardless of the FOB point or another condition of the sale. Each rental of property situated … Read more

How much can I write off for small-business? Under the new tax law, most small businesses (sole proprietorships, LLCs, S corporations and partnerships) will be able to deduct 20% of their income on their taxes. Read more on www.ramseysolutions.com Small business owners are constantly seeking for methods to save costs and lower their tax obligations. … Read more

Does Nevada have business income tax? As just mentioned, Nevada is one of four states that have neither a corporate income tax nor a personal income tax. More particularly, any businesses that have employees and report gross wages to the Nevada Employment Security Division (ESD) are subject to the state’s modified business tax (MBT). Read … Read more