Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [small-business]

Questions specific to small businesses, generally under 100 employees and revenues less than $1,000,000.

Questions specific to small businesses, generally under 100 employees and revenues less than $1,000,000.

489 questions
52
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4 answers

On paper I have 1 share in my company. How can I sell a smaller percentage of my company to another party?

To be specific, my wife and are equal partners in our limited company. On paper it says we have one share each. We now want to sell 10% of our company to a third party. How does that work in terms of the existing share status?
Mike
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52
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6 answers

Determining fair price for profitable mobile app business

I have been developing iOS apps for a few years now. They do pretty well, and yesterday I was approached with an offer to buy one of them. The offer was for $40,000 dollars for an app that generates roughly $650 a month in income. The app has been…
Ross Sullivan
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50
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2 answers

Can I hire my kid and start a Roth IRA for him?

I own an LLC, of which I am currently the sole member. It's my main source of income. I am wondering if there is a reason why I could not do the following: Hire my child as a part-time employee of the LLC, for an annual salary of $5500. Start a…
painter48179
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45
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10 answers

I won USD 50K! Now what should I do with it?

I won a sweepstakes and will be getting USD 50k...it is verified that it is legitimate although no taxes have been taken out so I will have to claim this income on my taxes next year, they will send a 1099. I do have a significant amount of student…
Emily
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42
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5 answers

Every month I make money from Patreon. I want to split my income with a partner. How do I avoid paying taxes on 100% of the income?

Let me start off by saying I have no idea what I'm doing here. The context is, I am making a game, and every month I make $400 or so from Patreon (people are my patrons, and they are paying me because they want to see the game be created). This…
Clueless Investor
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38
votes
3 answers

How to prove that invoices are really unpaid?

When it comes to official business documentation (USA) between a company and a client who is either another company (B2B) or individual person (B2C), how can the company providing the invoices, prove that those invoices are really not yet…
Liam
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32
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4 answers

When should I start an LLC for my side work?

I am doing quite a bit of sidework this year and wondering at what point would it be a good idea to "start a business" and bill through that.
Jeff Martin
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32
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4 answers

Should my husband's business pay my business?

My husband and I are each starting our own private enterprises--me as a web developer. I'm building a website for his company. Is it worth it for me to "charge" him? At the end of the day the money basically belongs to both of us, but I'm…
thumbtackthief
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22
votes
12 answers

Pay off Loan With Savings or Keep Emergency Fund

A year and a half ago I took out a Career Development Loan(£7000, 9.9% interest). Which is currently around £4900 now. I have been saving for no particular reason, and I now have over £5000 in savings that is just sitting there. So I was thinking of…
Geo
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21
votes
3 answers

Is money from the sale of an asset considered income?

Is money from the sale of an asset, like a pickup truck, considered income? For example, let's say I am a carpenter and I buy a new pickup truck for $40,000. I deduct $18,000 in depreciation for the first tax year, then $16,000 for the second tax…
Five Bagger
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21
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11 answers

Why can't my LLC get a credit card when the owner has credit history and a good credit score?

I've started an LLC (US-based) and have an EIN that I'm bootstrapping myself and self-funding. All my addresses and details are registered in the US. I'm the sole employee, but have zero revenue as it has just been founded. It's a software company…
Grant
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20
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3 answers

What to ask for on a business partnership?

I am being asked to provide technical expertise on a technology entrepreneurship. They are offering me equity of the business, in exchange of my work/commitment. I know they will require a capital investment soon down the line. What may I ask, in…
Geo
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18
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4 answers

Will depositing $10k+ checks each month raise red flags with the IRS?

I am a freelancer that runs a small design business (LLC) and I have one client in particular that I regularly do more than $10k per month worth of business with. Sometimes I'll deposit a check for $14k in one shot. I have check stubs and a paper…
Kevin
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17
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1 answer

Will I owe any taxes if I can write off every cent?

Does anyone know if I will owe any taxes for my small business if I can write off every cent? My business is based in the United States. I started a small web design business this year and anticipate the business to bring in around $4,000 this year.…
KodeKreachor
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15
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5 answers

A merchant requests that checks be made out to "Cash". Should I be suspicious?

My barber accepts only cash or checks made out to "Cash". Is there a likely legitimate reason she might want the checks made out to "Cash"? Or am I helping her hide her revenue from the IRS?
Jeremy Stein
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