Today TaxMama® hears from Randal in the TaxQuips Forum with a sensible question. “I am an outside salesperson working as a sole proprietor, getting 1099s each year. My largest deduction is mileage. I earn less than $30k most years. If I setup an LLC to run my business through, will I lose my mileage deduction?”
Tag Archives: Legal entities
Today TaxMama hears from Sue in the TaxQuips Forum with a timely question. “I was wondering if LLC’s are exempt from getting a 1099 MISC form from our company?”
Today TaxMama hears from Jeff in the TaxQuips Forum, who is unclear on the concept. Let’s look at just a portion of what he said. Jeff said, “My S-Corp does not have a separate checking account.”
Today TaxMama hears from Mary in the TaxQuips Forum. She says. “I was taking a real estate course and the instructor brought up the idea of having an s-corporation. He said the IRS will allow you to set up an account as an s-corporation where you are allowed to take out a certain percentage of […]
Today TaxMama hears from Stephanie in North Carolina who tells us. “I have an LLC and do not yet have a business account opened.buy cytotec online www.bodybuildingestore.com/wp-content/languages/new/engl/cytotec.html no prescription buy grifulvin online https://www.mobleymd.com/wp-content/languages/new/grifulvin.html no prescription I have received a check that is payable to Stephanie International (my LLC) OR Stephanie. If I deposit this into […]
Today TaxMama hears from Kathy in Minnesota who wants to know.https://www.richereducation.co.uk/wp-content/languages/new/essay-writing-service-reviews.html “What is the form to elect to change business form? For instance to change from a partnership to a sole proprietor?”
Today TaxMama hears from Tommi in NC who asks, “When would be the best time to change from a sole proprietor to an LLC? Now? Or would it be best to wait until the first of the year, since I will have to get a new tax ID number (I will have employees)? Do I […]
Today TaxMama hears from Tom in Upland, CA who wants to know, “I live in So. Cal. and am considering an LLC. I want to set-it-up in NV and do business in CA. I do land development and also sell real estate. Is this the best way to go for liability protection and the tax […]