what is the best way to pay little tax for my business?
471753
1. Make sure you maximize your tax deductions. Plow more money back into the business - marketing, new computers, etc. and claim them as deductions\n\n2. Open a Self Employment 401K http://www.powerhomebiz.com/vol149/401k.htm and maximize it. You can put in as much as $16,000 per year + 25% of business profits. It is tax deferred so you don't pay taxes now, but at least you can use it to save for your retirement.
1107186
I would talk with the "Small Business Administration" and "SCORE" in my local community (They in the Phone Book Blue/Government Pages). They may be able to help and it Free advise. You just determine what important for you.\nAlso, you may want to call the IRS. They offer Free Tax Classes to help you know what Forms and stuff would be important for your Business, plus, they usually answer some important questions you may have as to Deductions. They real important and it FREE!!!! Then talk to your State Revenue Department and find out what you need to get your Tax ID etc. for your Business. Usually it just your Social Security Number for a Small Business. But, you need this Form to Buy Wholesale and not pay Sales Tax on your Stock. You charge the Tax when it sold.\nThere is a lot to cover, but, do not feel overwhelmed, take each part, step by step. You not in a hurry! AND those guys/gals @ SCORE can tell you most of this and help you. They Retired Business Owners Volunteering their time for something to do.
494207
I'd start with 5% on top of the seller fees.\n\ncheck out the link below for more info...\n\nhttp://www.entrepreneur.com/article/0,4621,316352,00.html
754424
I paid my property taxes with a check (from the credit card company) at a 5.9% rate.  I didn't have $1900 for mine and the $35 fee is less than the 10% I would have been charged.\nIf you have some of the money, you can use your credit card and pay that which you do have right away to the credit card company.  IE- pay $1100 on credit card and mail $500 to the credit card company.  This will help you get the balance down and not incur as much finance charge.  \nDon't forget you have another property tax bill due again on April 10, so if you don't have the first part paid off by then, you will be really behind.  \nYou might consider having an impound done so you are sure you have the money already set aside in the future.
834199
Get registered as self employed with the tax office. Go see a business startup specialist in a Bank.  One of the best banks out there from personal experience were Barclays they have a team of business specialists they can provide loads of info including Starting and running your own business guides on CD Rom and information fact sheets, there are other sources of information you can obtain through Business Link too. \n\nBanks usually lend on a matched funding basis to new businesses, ie 50/50 but only if you can provide a cashflow projection and business plan up front.  If you have already bought equipment to use for your business and can produce receipts this would be included in your 50%\n\nYou sound like a hardworker, working for yourself is not always easy and does demand your time and effort, from what you have said you have no objections to doing this.  The benefit obviously being that any money you make (less any deductions) is your own clear profit not someone elses.\n\nAnyhow, best of luck!
356977
When it comes to tax deductions and expense write offs, the best thing you can do for yourself is to consult with a certified and experienced tax professional.\n\nThe legal form of your business is a major factor in how you pay texes, sloe proprietor, limited partnership, corporation?  If you are not sure ask an attorney.\n\nThere is nearly no limit as to what you can purchase and use for a business.  What you can write off however is a different story.  When you make purchases with the sole intention of business use, you should consider the depreciation of the asset,(thing you own are considered assets).  To estimate the depreciation value of an asset, try deviding the cost of the item by the number of years you expect to retain the asset in service, the resullting number is the amount of money you can deduct from your taxes each year untill the asset no longer serves your needs.  Another option is to write off the entire depreciation in the first year of ownership.  Though this may decrease your tax liability dramitically for that year, there will be no other tax benefits to the ownership of that asset.\n\nYou can also deduct the cost of operation such as rents, mortgages, utilities, insurance, interest paid on loans (real estate), vehicles and the cost of operation of the vehicle, advertising, accounting, legal fees.  Pretty much any expense that you incur for the business, and certain things that you share, such as a residence, or a car can be used as deductions at tax time.  Be careful not to double deduct items.  If you cliam your car as a business expense, don't claim the interest you pay on the loan in your personal taxes.\nThere are also limits to which you can make deductions; remember you don't want to run in the red with your taxes for more than a couple of years, as the IRS will closely scrutinize your tax returns and records.\nHope this helps.\nGood luck
828392
It does not matter where you work.  Whatever entity you set up, you will wish to take profits out of the business to live on, right?  In that case, you will have to pay NY taxes becaus that is where you live.  Remember, not all free advice is worth the money!  (Think about it.)\n\nYou should consult with a NY CPA, who will be able to advise you best.  Do not rush to a low-tax jurisdiction without considering the effect on your own personal return.  Ultimately, that is the bottom line.
620354
You will have to pay income taxes but not sales tax (although that will depend on your state).  Good luck.
502754
First, it depends on which state you live in.\n\nThere are a variety of taxes that phone (and other utilities) like to pass down, especially excise taxes.  I would plan to pay anywhere from 10% to 15% in taxes.
824091
You have to have a tax I.D. number for the business. Call or go into a local bank and they can help you get started. Good luck w/your business!
250761
I think Flat tax is best. First of all people that make lots of money have smart bankers and accountants they probably pay less taxes then most. When people ask me how much money I make my answer is as little as humanly possible. The corpration tax entity unleveled the playing field for the smart and self employed. Corps pay there taxes last and only after they've spent and hid all they can. Employees or sheep pay first and pay up the butt. bottom line learn the system becoming a sub contractor and incorporate in Belize.
253873
Try the Fair Tax.  Eliminate all taxes and enact a sales tax.
53658
Go to any 'city hall' that corrosponds with your area\nthrough the info desk you should have one w/a small\nfee by the end of next week. Remember to name it as\na "bussiness" for all inclusive tax purposes. Write \noff the car, gas, car ins.\nAnother way would be to submerge yourself into the\nsurroundings of your interest...as with any\n"independant" endevore...please be careful, there is\nplenty of money to go around in this world. Yet, \nthere is only one of you.
577406
You should pay some estimate so you don't get penalized.  If your tax liability is not within 15% of what you paid in throughout the year you'll be liable for penalties.
435315
If this is a regular business activity then you should apply for a resale certificate (basically a permit) which you can provide to your supplier so they don't charge you tax on the purchase. When you sell the item you would charge the buyer sales tax and remit the collected taxes to the state.\n\nIf this is a one shot deal then just pay the sales tax on the purchase and don't bother with any tax on the sale. You need a permit to collect and remit sales taxes.\n\nAlso, bear in mind that requirements for out of State or on-line transactions may vary as well.
470196
If it for business use(you sold goods at a profit), treat them as you would any other form of payment.  It is probably simplest to deal with the net payment.  If you report the gross payment then you should use the fees as an expense to offset them.
396859
http://www.irs.gov/businesses/small/article/0,,id=108339,00.html\n\nThat should help!