How to compute quarterly estimated tax for a freelancer?
Hi,
I read a lot about estimated tax but I am still confused. Is it based on sales amount or net income? I read that it's good to pay 25% to 30% each quarter but I am having trouble computing it ...
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Zoey Wen CPA
Hi there, the quarterly taxes is based on your estimated net income. Take a look at this section on estimated taxes in our tax guide for freelancers - https://a ... Read more
If I am starting a business from my home office deductions the first year
If i start a business from my home office and during the first year do not bring in revenue as I am building a internet website can I deduct part of the cost of my business expenses like part ...
Should I report independent contractors to EDD California?
Hi,
I always prepare a 1099 form for my clients' contractors but today I was on EDD employer account and I saw that it was written that the employer must report the info of independent contractors as well. I am confused. ...
What is the best type of business to set up for an international distributer
I have a client that is purchasing goods in the US and selling them to their clients in Chile. What are the tax implications for US & Chile? What type of business entity is best? He has a full ...
What is the best way to hire an international employee as an S Corp?
One of my clients wants to hire an individual as an employee from overseas but she has no clue how to deal with this and what formalities and things are required?
Can anyone guide me on this?
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Liz King, CPA CPA
First you will want your client to apply for certification from the United States Department of Labor. The Department of Labor seeks to protect the rights and w ... Read more