by cdaaccounting | Jun 6, 2022 | Business
Yes. A Coeur d’Alene LLC is a pass-through and unable to differentiate between a wage and other payout methods. Therefore, you will pay self-employment taxes on your share of the profits regardless of how you withdraw the funds. Coeur d’Alene S or...
by cdaaccounting | Jun 5, 2022 | Business
No. Due to the Coeur d’Alene LLC’s lack of legal formalities, this business entity is not required to have annual meetings or record minutes and resolutions. However, it is in these documented meetings, minutes and resolutions that the limited liability and...
by cdaaccounting | Jun 5, 2022 | Business
Yes. If you are a Coeur d’Alene LLC with one owner, then you will be taxed as a sole proprietor unless otherwise elected. In Idaho you and your marital partner can still opt to be taxed as a sole proprietor even though there are two members. For Tax Resolution...
by cdaaccounting | Jun 5, 2022 | Business
If you are wondering if you should hire full-time Idaho employee or use independent contractor, don’t make the mistake of thinking they are the same thing. Employees and Contractors are not alike in the state and federal governments eyes. If the IRS suspects that you...
by cdaaccounting | Jun 3, 2022 | Business
One potential Coeur d’Alene business tax reduction strategy is to hire independent contractors instead of employees. Misclassified If a worker’s classification fits within the tax law, it’s a legitimate strategy that can save you thousands of dollars. But...
by cdaaccounting | Jun 3, 2022 | Business
Yes. A Coeur d’Alene S-Corporation can have a maximum of 100 shareholders that are US citizens, permanent residents or an LLC taxed as a sole proprietor. For Tax Resolution or Tax Preparation services in Coeur d’Alene Idaho click here.
Recent Comments