Taxation

Does Etsy report to IRS? Etsy reports your gross income to the IRS on Form 1099-K, but even if you don’t receive a 1099-K, you must report Etsy sales income on your tax return. If your state has income tax, you must pay state income taxes on the net income from your Etsy sales as … Read more

Can a single-member LLC elect to be taxed as an S Corp? As a single member LLC, you can elect to be taxed as an S-Corp as long as the election is made no more than two months and 15 days after the beginning of the tax year you want the election to go into … Read more

How do I get a EIN number in Kentucky? You can find your account number will be on any return (K-1, K-1E, K-3 and K-3E) sent from the Kentucky Department of Revenue. Your UI Kentucky Employer Identification Number (KEIN) number will be 9 digits (XX-XXXXXX-X), usually with two leading zeros. Read more on support.gusto.com You … Read more

Is a car wash taxable in California? (a) GENERAL. The free car wash is considered a service that is part of the sale of gasoline. The gross receipts from the sale of gasoline should not be reduced. The car wash is seen as analogous to the washing of the windshields or pumping air into tires. … Read more

Can you carry over Schedule C losses? If you have to carry over some of your losses, you must deduct as much as you can from the previous two years’ tax returns and submit adjusted returns. You can subtract from three years instead of two if your business has annual receipts under five million. Read … Read more

Which county in Florida has the lowest property taxes? Walton County Walton County has the lowest property taxes in Florida, 0.79%, then Jackson County 0.73% and Santa Rosa County 0.77%. Bay and Monroe were connected with the fourth least expensive district at a rate of 0.79%. The three counties with the least expensive property tax … Read more

Do S-corp owners have to pay unemployment tax in Florida? Florida S corporation taxes include federal payroll taxes and federal unemployment tax. In the state of Florida, both the S corporation and its shareholders are exempt from state income taxes. The S corporation might still need to pay state sales tax and excise tax. Read … Read more

Is it better to live in a state with no income tax? Living in a state that doesn’t tax income can be a major advantage ? especially to those in high income households. While many states force high earners to pay high taxes, states without personal income tax do not tax their earnings at all. … Read more

Is there tax free in USA? Nine states – Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming – have no income taxes. New Hampshire, however, taxes interest and dividends, according to the Tax Foundation. Read more on www.aarp.org Every nation’s economy depends heavily on taxes, and the US is no exception. … Read more

What items are tax free in Maryland? What items will be eligible for tax-free purchase during Shop Maryland week? Certain clothing, footwear and accessories are eligible. Examples of tax-free clothing and footwear are sweaters, shirts, slacks, jeans, dresses, robes, underwear, belts, shoes and boots priced at $100 or less. Read more on www.marylandtaxes.gov Throughout the … Read more