Your Questions About How To Do Business Taxes Online
Mandy asks…
What legal paprwork needs to be done when opening a small online business?
I just opened a small online business from home selling some of my paintings and a few handpainted items. Now, I want to know what to do to protect my Business name from being stolen? If I should start an LLC or Corporation? Or if I even need to do that since I’m a very small business…. and if I have to pay taxes then how much or what tax forms and paperwork will I be doing? Please all the help would be apreciated!
Jere answers:
Im in the same situation. Luckily my mom is an accountant so i can pass on some info to you!
If you want everything to be legit and you want to claim your business sales on your personal taxes you should be an LLC. You only get taxed once vs. Twice with corporation.
You have to pay sales tax on every item you sale and you have to file accordingly.
Maybe you know an accountant or someone that opened their own business.? Ask for advice! Theres so much to learn, good luck and wish me the same please!
Joseph asks…
Is having an online business legal ?
I wanted to have an online web designing business. But I thought about taxes. I know there’s lots of people who use pay pal etc.. to receive payments for web design etc… But how do the taxes get payed out ?
Jere answers:
Online businesses is legal and should be legal because you still pay taxes I don’t know how they pay taxes but i know that they do though.
Helen asks…
How to start an online home business in TX?
I am thinking about starting an online business, but I find out I need a resale certificate to buy the products from wholesalers in TX. Does it mean I have to charge customer taxes even through it’s going to be an online sale?
Could anyone also tell me where to start?
Jere answers:
I am a business owner in Texas. A sales tax permit simply allows you to purchase items to resell without paying sales tax. You are then responsible for collecting the sales tax from your customers on items they purchase. Some wholesale companies require a sales tax number for their customers. I recommend contacting the Texas State Comptroller’s office. They can answer your questions especially in regards to internet sales.
Good Luck!
Paul asks…
How do I start my own online business?
I would like to start my own ‘cat’ business. Cat collars, books, food, litter items, scratch posts, bedding, books, etc.
How do I go about this? I know I have to register a company name and with the tax department. I was hoping to have an online store only.
How do I go about finding and importing items for this?
Any advise?
Jere answers:
You can get stringsofsound.com to build your website for you, they built mine for really cheap ( universityreviews.ca)
Lisa asks…
Do you need a tax id to run an online business and accept credit payments via E-mail?
If so, where can I get one and how long does it take to get processed? Thank you.
Jere answers:
Tax should be handled by your bank.
To claim VAT of items (i.e. You charge your users VAT) you need a VAT number – ask an accountant or your bank.
You need to pay tax for any premises you own – inland revenue.
You may need to pay customs if business is overseas
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