Ask Entrepreneur - Money

When converting from an IRA to a Roth, do I have to file self-employment tax?

I am a little confused by this whole situation.

Is there a tax advantage to forming an S-corp?

I am an emergency room physician currently employed by a group as a contract employee. Also, can I make family members shareholders to reduce estate taxes?

When's the best time to seek additional financing for my startup?

I started my golf products company two years ago and I now need about $20,000 for manufacturing in China. I have the trademarks and patents for my products.

How can I source financing companies for my customers?

Where I can find companies that will offer my customers financing for my services?

How can I secure financing to purchase a business?

The business costs just under 300K and does about 1.2 million in gross sales with an owner benefit of $110,000. I have 20 years of experience managing similar properties.

How can I learn the basics of financial management?

I'm starting my own construction company and want to do the accounting myself.

How can I transfer assets from one of my corporations to another?

Is this possible? What's the best way to do this?

For bookkeeping, are discounts considered income or expenses?

I use QuickBooks and offer discounts to my customers on standard rates for my rental properties. How should this appear in my accounting statement?

What are some creative ways to gain financing for my business?

I have a very strong business plan that's borderline commercial-residential. I'm driving myself crazy with lenders who think they are intersted but can't quite seem to commit.

Can I keep my two businesses separate for tax purposes?

I'm half owner of a 50/50 LLC and we're doing business as two distinct entities. When profit/loss and tax liability pass through to our personal returns, will we both be responsible for half of each business?

How do I separate my business and personal taxes?

I am partial owner of my small business. If the business operates at a loss for the first year and we have about $30,000 in expenditures, how does that get calculated?

What are the tax benefits of buying a car through my business?

I own a small retail bead store and am considering purchasing or leasing a vehicle. The car would be used for both professional and personal reasons.

How can I get the IRS to reduce the penalties I'm paying on my back taxes?

I can't afford to hire an accountant.

Am I required to give out my tax ID number if I strictly teach classes?

I have no retail sales. Why would a customer ask me for my business tax ID?

Do the profits from a corporation that files a 1120 form transfer to the shareholders with a K-1?

Who pays the tax from the profits? The company has made a profit for the first time. The shareholders are concerened that the profits will raise the taxliabilty on their personal return.


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