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First, you have to decide what type of business entity you will be: a sole proprietorship, a corporation, an LLC, etc. Each type has different tax and liability implications. If you want to incorporate, there are legal services which will form a NJ corporation at very reasonable fees. If you want to form an LLC, you can do it all on-line by yourself. These two types of entities will provide some personal protection inn case a pet gets injured or killed while under your supervision. Then, check your business name for availability here: http://www.state.nj.us/treasury/revenue/checkbusiness.htm Create your entity with the state of NJ. Use a lawyer for a corporation or do it yourself here (see step 1): http://www.state.nj.us/treasury/revenue/gettingregistered.htm Then, obtain a Federal ID number here: http://www.irs.gov/businesses/small/article/0,,id=98350,00.html Then, follow step 2 from the NJ link above to obtain your state tax id numbers. You must file for income tax purposes and you will have the option of filing for employer taxes (if you have employees) and a sales tax number if you collect sales tax (see publication S&U-4 here:http://www.state.nj.us/treasury/taxation/index.html?s_ucommish/commish.htm~mainFrame ) Good luck in your new endeavor!
What else can I help you with?
Is a LC small business tax exempt?
LC business be TAX EXEMPT NO NOT POSSIBLE FOR ANY TYPE OF LC BUSINESS TO BE TAX EXEMPT.
Does EZ tax returns do business tax returns?
In addition to their other services EZ tax does do business tax returns, although additional charges may be applied depending on the location and size of business.
Understand Your Company's Tax Responsibilities?
Before you start your new business, it is important that you understand your company tax responsibilities. Small business taxes can be a bit confusing. Meeting with a certified tax professional is the best way to ensure that you will be able to meet your tax obligations. During the year, you need to make sure that you set aside a portion of your profits so that you have enough money to pay your taxes. Meeting with a business tax specialist can also help you clarify any questions you have about company tax deductions. If you know which business expenses you can deduct from your taxes, you can save quite a bit of money which can then be reinvested in your business.
Can business owner get money back when filing business tax?
Yes, if the business owner's estimated tax payments were more than the business actually owed.
How long do you have to keep tax records for a business?
We must keep tax records for 10 years for a business
Is pet insurance tax deductible?
Pet insurance is generally not tax deductible for individuals, as it is considered a personal expense rather than a medical expense. However, there may be exceptions for certain business owners who use pet insurance for their working animals.
What tax incentives are available to a new business person who establishes his business in backward areas?
The tax incentives that are available to a new business person who establishes his business in backward areas are such as exemption of taxes and low percentage of taxes.
What tax deductions do you get when opening a new business?
There are many tax deductions available for new businesses. Some include home office deduction, travel, meals, entertainment, and gifts, and business use of your car. To see the many more deductions go to http://www.sba.gov/content/small-business-expenses-and-tax-deductions
How temporary were Borden's new taxes after all?
Not temporary at all. Canada still has the business tax and the personal income tax,
Does New Hampshire tax social security?
There is no income tax in NH on anything other than business income or dividends and interest.
What kind of business tax do i need?
There is no such thing as small business tax. The state will tax you just like every other business, but you may be eligible for a tax break because you are small business, minority business owner, women owned business, etc.
Is a LC small business tax exempt?
LC business be TAX EXEMPT NO NOT POSSIBLE FOR ANY TYPE OF LC BUSINESS TO BE TAX EXEMPT.
How joining in Tax preparation Classes helps a business man?
Tax Preparation Classes are generally helpful for a business man in his business. He can learn about the tax laws, tax infomations which will be helpful in running his business efficiently.
Are gift cards tax deductible for a business?
No, gift cards are not tax deductible for a business.
What is the tax deduction on a new truck?
There is no "tax deduction on a new truck." If you use the truck for business, you may be able to deduct part of the cost as a business expense. This is complicated enough that you should probably talk to a CPA or Enrolled Agent (somebody who prepares taxes for a living).
Does the government support business startups?
Yes. They do assist on the start up of a new business. There is quite a few legal procedures to go through and tax forms to fill out. But all in all they do help with the creations of a new business.
Does EZ tax returns do business tax returns?
In addition to their other services EZ tax does do business tax returns, although additional charges may be applied depending on the location and size of business.
