Taxation

Do you send a 1099 to an LLCs corp? An LLC that is an S Corporation does not need to receive a 1099 form. However, there are a few specific types of payments made to corporations by your business, including payments to S Corporations, which would require you to report the payment on an S … Read more

What taxes do record labels pay? When your label or publisher writes you a check, this is taxable income that must be reported. Typically, royalties received from the work you do are considered self-employment income. These are taxed at ordinary income tax brackets and are subject to self-employment taxes. Read more on blog.sonicbids.com Because they … Read more

Is getting an EIN number free? Your Employer Identification Number (EIN) is your federal tax ID. You need it to pay federal taxes, hire employees, open a bank account, and apply for business licenses and permits. It’s free to apply for an EIN, and you should do it right after you register your business. Read … Read more

How do I get a certificate of Good Standing from the IRS? In order to get a certificate of good standing, you must have paid all your business taxes, filed required documents, and otherwise complied with your state’s business regulations. Unlike a business license, you don’t need a certificate of good standing to conduct business … Read more

Do Youtubers pay tax Australia? Income tax is paid by Australian youtubers on earnings more than $75,000 via Google Adsense revenue. Is that income also subject to GST? As per ATO’s ruling: “”The income the taxpayer receives from Google for their YouTube videos is a reward for providing services relating to their activities as a … Read more

Do family foundations pay taxes? Although private foundations are exempt from federal income tax, their investment income is subject to an excise tax of 1 to 2 percent. It is increasingly common for families to transition an existing private foundation into a donor-advised fund with assistance from legal and tax advisors. Read more on www.fidelitycharitable.org … Read more

Is Social Security income taxable? Some of you have to pay federal income taxes on your Social Security benefits. between $25,000 and $34,000, you may have to pay income tax on up to 50 percent of your benefits. more than $34,000, up to 85 percent of your benefits may be taxable. Read more on www.ssa.gov … Read more

How much does it cost to get a tax ID number in NC? Applying for an EIN for your North Carolina LLC is completely free. The IRS doesn’t charge anything for applying for an EIN. Read more on www.llcuniversity.com Getting a Tax ID number is one of the first things you must take if you’re … Read more

Does Oklahoma accept the federal extension? The State of Oklahoma recognizes the Federal tax extension (IRS Form 4868). Therefore, if you have a valid Federal extension, you will automatically receive a corresponding Oklahoma extension. Make sure to enclose a copy of your Federal extension with your Oklahoma tax return when it’s filed. Read more on … Read more

Do LLC pay taxes in Missouri? Generally no income tax is paid by the LLC. Each member will receive a Federal K-1 and will report their income on their Federal Form 1040 and on a Missouri Individual Income Tax Form 1040. Read more on dor.mo.gov In Missouri, Limited Liability Companies, or LLCs, are a common … Read more