This is a gift from your parents and is not taxable income. But, your parents may have to file gift tax returns, form 709. I hope this...

Do I need to pay sales tax?

You have a real concern with having state sales tax liability. Because Amazon has so many distribution offices in different states, they typically...

If your father signs the loan he will be personally responsible for the full amount of the loan should you or the LLC not pay. Generally, signing...

How to form LLC for small business?

My experience with yoga instructors is that they typically work at one or more studios to provide personal service. If that is the case, your...

How is money transferred from a corporation to its owner taxed?

Why would you start a C Corporation rather than a LLC? You now have to file a federal 1120 corporate tax return, pay corporate tax on any income,...

My question soecific to TX & DE. What Happens to a single member LLC & its assets when owner of LLC Dies?

The membership interest in the LLC is transferred to the estate. If there is no will, it follows the law of intestacy of the state of residence of...

Sorry, but you set up a US business and are u in the clutches of the IRS! You need a good tax attorney to handle this for you. I hope this...

Do I need to withhold taxes on payments of $500K in a year to a business in India providing me IT Sales and Service.

This is complicated. It does not seem that you need to withhold since the services are performed in India, not the US. Please call a good tax...

Do not sign the consent. That will require you to pay the tax before going to court. You shoul speak with a tax attorney to guide you. You may have...

What business entity to chose?

A sole proprietor filing a Schedule C on your 1040 would be easiest. I suggest you speak with a lawyer about getting an EIN, filing a trade name,...