0
Yes
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
Does being incorporated cost more in taxes?
The answer is 'it depends.' If the corporation was established in one of the few states that has no corporate income tax, the answer is most likely 'no.' Even if your business is internet commerce, the US Supreme Court has ruled that states can not force you to pay their sales tax on sales into their state. If on the other hand you incorporate in a state with corporate income taxes, you will have to file a corporate income tax return and may or may not pay corporate taxes.
What taxes does a distributor pay?
A distributor will pay taxes as would any other business. They would file the return based on the type of business they are legally. If a sole proprietorship, they would file a 1040 with a Schedule C for the business section. If a C Corporation, they would file a 1120 Corporate return. If a Subchapter S corporation, they will file 1120S. A partnership will file a form 1065 return. Their income is calculated as income minus cost of good sold minus expense will equal income.
Can managers file taxes?
Sure. If you have income, you are required to file income taxes.
What is the easiest corporate income tax software?
The easiest option to file corporate income taxes is to get a program like Turbo Tax. You could also use Tax Act, or just have them done professionally.
Minimum income to file taxes?
There is not a minimum income one must have in order to file taxes. Anyone can file taxes if they want.
What are the requirements to e file your federal income taxes for free?
Your income must be 58000 or less to file your federal income taxes for free. If your income is higher then you cannot file them for free from e-file.
Who has to file income taxes in Illinois?
Anyone with any income, or even without an income can file. You are required to file Federal taxes if you made more than $1,800. Illinois requires anyone that earns or receives income in the state to file state taxes.
Im on SSDI total income is 10,300.00 do I file taxes?
I'm on SSDI do I file taxes on $10,300.00 total income
I run a small corporation, do I have to file a corporate tax return?
Corporations must file Federal tax returns every year, regardless of income or loss. The same is true in most states.
Can you still file income taxes even though no federal taxes were taken out of check?
Can you still file income taxes even though no federal taxes were taken out of check?
At what income do you have to file taxes?
$600
I earned $945.00 working for my landlord and I need to know if I can file income taxes on this?
Yes you can file income taxes on $945.00 that you earned.
