Business Information and Help » United States

Can you have a business license and still receive unemployment assistance?

admin — Thu, 11 Mar 2010 05:31:45 +0000

Godspeed asked:

Right now I’m receiving unemployment benefits but I’m looking to start a business next month. Can I have a business licenses even though I’m not planning to do business for the next 3 – 6 months. Would that affect my unemployment?

Thanks!

Have a job and a business, any problem if I deposit a payroll check into my business account?

admin — Fri, 14 Nov 2008 00:55:12 +0000

Kubricksmind asked:

I work for someone part time and also run my own business. Is there a problem if I deposit a payroll check (taxes have obviously been deducted already) into my business account?

Can you claim business deductions quarterly, when you file estimated taxes quarterly?

admin — Sun, 09 Nov 2008 02:16:11 +0000

Courtney B asked:

If you can claim business deductions quarterly, what form do you need to file quarterly, if you are self-employed? Also, what form do you file to report estimated taxes quarterly if self-employed? Or do you claim all deductions and business expenses at the end of the year?

Home-based Business. What if I have next to nothing coming in for how much I am deducting in taxes?

admin — Wed, 27 Aug 2008 13:59:43 +0000

rothchristian asked:

I am looking into setting up a home based Business as a part time thing. I have a day job and I would like to do this music endeavor on the side. I want this to be legitimate but I know I will be making very little money and writing off a lot in tax deductions. Does anyone have experience in with this type of scenario? Is there a reasonable expectation that IRS has around how much revenue needs to come in for how much you are writing off? I don’t want the Business to appear fraudulent although I have more to gain from a tax deduction basis.

How do I retroactively transfer personal income to my new business?

admin — Mon, 11 Aug 2008 21:28:09 +0000

Matt asked:

I am about to start a new business entity (probably an LLC), but I have already been earning income (intended for this business) under my name and personal bank account, since the LLC has not been formed yet and I do not have a business bank acount yet.

I will probably be filing IRS Form 8832 so that the LLC is taxed like a corporation, and can seperate my personal income tax from my business income tax.

Can I transfer income related to the business that i personally received before starting the LLC into the LLC so that the business would be taxed on it, and it would not be applicable towards my personal tax? How would this be done?

The income was received within the 2006 tax year, so I’m assuming i may need to start the LLC within 2006 as well?