camz

30 ms·

241.
by camz 16y ago
I agree, international tax is constantly shift because the economy is shifting away from being isolated to individual citizens. I'm not surprised that the Phillipines have the same tax rules as the united states since they were held by the
242.
by camz 16y ago
I think that RDL is giving valid and valuable advice. Generally speaking WA and TX has no income tax for personal and businesses, but the gross receipts is almost always going to hurt more than the average income tax because of the huge ta
243.
by camz 16y ago
No problem, that idea actually has 4 major multibillion dollar companies competing right now. Lexis/Nexus, Westlaw, RIA Checkpoint and CCH basically TRY to do this but honestly there's no way to make these laws easy. I'm a professional tha
244.
by camz 16y ago
Quick note, if you are selling a standard software program and then tailoring it to an enterprise user, then you'd still be paying sales tax on the "standard" portion of the code. The customized portion COULD be non-taxable but it would ha
245.
by camz 16y ago
In tax, its all the same generally speaking. The only difference is where these costs enter the equation. Apple is similar to the situation above where they are accepting money and transferring a large portion of it back to the developer as
246.
by camz 16y ago
Canada generally uses GAAP like the US so theres no problem there. Also, accounting isnt going to be a serious issue when a company wants to buy you. This is more like an afterthought. If the buyer gets a tax benefit then thats icing on
247.
by camz 16y ago
I dont think so, you should be fine since you're earning the income from a foreign country such as canada. You should be fine since you dont really have a connection to this country besides your customers. But, some states might be aggress
248.
by camz 16y ago
When you sell the equity in an LLC, then you're selling an investment and if you hold that investment for longer than a year or 366 days or more, then yes it would be long term capital gains. Generally, its better for you and the buyer to s
249.
by camz 16y ago
I think a dual tax agreement is a bit different than a low-tax IBC generally is a situation where you dont have local taxes and you pay small fees for doing business (franchise tax). The tax havens in the bermudas and carribeans do this a
250.
by camz 16y ago
Honestly, I cant remember off the top of my head the SPECIFIC details related to florida but i can almost guaranty you that you're business is providing a taxable service. (1) Your business isnt provided a customized system so it isn't a pr
251.
by camz 16y ago
Nexus is a state and local tax concept. Nexus is defined as the "minimum connection necessary for a state to tax a taxpayer." Generally, there are three factors that lead to nexus (there are more but i'll give you the basics.) If you have
252.
by camz 16y ago
We'll I don't think tax is a good idea to base your decisions for a startup. There's a saying that the tail wags the dog. Your business is the dog and tax is the tail. California state is almost as disgusting as New York when it comes to
253.
by camz 16y ago
Honestly, the cost varies because the quality of the accountant varies. Also, when you hire a "CPA" most of the time people dont think to ask the CPA what their background is. CPAs are broken into three types of people. There are tax guy
254.
by camz 16y ago
In this situation you're essentially trying to increase your adjusted basis in the property so that you'd pay less taxes on capital gains and alternative minimum tax. Honestly, I can't think of an answer that would solve this problem off th
255.
by camz 16y ago
A US nonresident alien has special rules because your not a citizen. But, generally a nonresident alien is not required to pay social security on income in the US if it is related to a foreign nonresident students studies. But if it's a gen
256.
by camz 16y ago
I'd highly suggest that you separate your websites into different llcs because of a variety of reasons. Firstly, liability is rarely a serious issue in tech but it's always better to be safe than sorry right? Secondly, by separating the ass
257.
by camz 16y ago
That's honestly more of a semantics question. The IRS doesn't appreciate it but, they're not going to kill you for it. Whatever you spend on coffee is only going to be 50% deductible under meals and entertainment, so don't worry about it.
258.
by camz 16y ago
I will note though that New Zealand is part of the tax planning strategy that Google uses to save. They've recently been destroyed by the PR machine for doing this, but its honestly pretty common. I'm constantly hearing and learning about
259.
by camz 16y ago
I'm in new york city and that's where I currently practice. I'm working on a nonprofit 501c3 startup/webtool for education from 1am to 3am. Its nothing as interesting as the stuff you guys do, but I like technology and really want to do s
260.
by camz 16y ago
I dont know if you guys heard, but the Obamacare health bill requires everyone to receive a 1099 that gets paid over $600. It used to be that only individuals and independent contractors were the only ones that were really required, but now
261.
by camz 16y ago
Yup, sales taxes are a state issue. Like i said, state taxes are complicated and i'll try to find the time to dig up that 50 state matrix which is a guide to all the states and how to treat software sales... that sounds very useful to this
262.
by camz 16y ago
Why not look into SEP, simplified employee pension plans. The limitation for last year and this year is $49,000. You sound rich lol, so why not just get this plan and start socking away money. You can put up to the lesser of 25% of wage
263.
by camz 16y ago
Hmm.. thats a complicated set of facts. I hope that the sale was done through a stock buyout instead of a sale of assets. When you sell a company there are two major methods. A complete sale of assets (which it sounds like you did) and a
264.
by camz 16y ago
Awesome question! Sales tax is a crazy world for software developers because there's a shitload of exceptions and rules. I'll tell you the general rule though. Software is taxable IF (1) it is a retail "off-the-shelf" program. A retail "of
265.
by camz 16y ago
I've taken a 3min gander at the dual tax agreement and it sounds like your standard foreign tax credit situation. Whatever tax you pay to the US will be a tax credit for NZ and vice versa. So, you'd basically run the company in the US acco
266.
by camz 16y ago
There's no real reason for you to stress about this point because if your taking in 100% of the ad revenue and then remitting 70% of it to your publishers then you're only keep 30% as gross profit. Ex: Ad Rev/Sales = $100 Cost of Sales= $70
267.
by camz 16y ago
That sounds a bit awkward because goodwill is an intangible that should amortized over 15 years. I'm going to start showing legal statutes: "General rule. A taxpayer shall be entitled to an amortization deduction with respect to any amorti
268.
by camz 16y ago
We'll being a minor means that you're still a dependent on your parent's tax return. And, that actually sucks haha. Sorry. As a dependent, you don't get a personal exemption but you'll get a standard deduction of $5,700 (in your specific
269.
by camz 16y ago
Stock options are a loaded question but I’ll discuss it in general terms. There are two types of stock options. Qualified and Non-Qualified. Qualified stock options are those given to employees. So, all of the first employee hires that get
270.
by camz 16y ago
Maybe consider trying to work for a startup where you'll be challenged to understand and solve practical problems. Sounds like you want to feel utilize and see your effect on a company besides being a cog. I've had a similar experience in

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