Taxes for a company with a net loss
Ashley McGrand, Des Moines
Can a company owe income taxes in a year in which it has a net loss?
Comment
DiggHow do I survive the down economy?
FSB’s experts weigh in to help a remodeling firm whose sales have plunged during the economic downturn.
Eric Tolley, Oak Park, Ill.
I have been in the remodeling business for eight years and have built a lot of brand equity in my company - but our sales have dropped 70% in the last two years. I know I don’t have the energy to start over. How do I survive until the economy turns around? Read more…
Stimulus package tax changes
John Bellow, Lynnwood, Wash.
Where can I find a clear summary of the tax changes that will be in effect for small businesses for 2008? I understand that there have been some changes that were implemented with the stimulus package.
Increasing fees during the economic slump
Cheryl D. Ajamu, Southfield, Mich.
I own an advertising media sales representation firm. How do I raise my fees to cover increased expenses at a time when my clients are experiencing lower advertising revenues?
Help, my client won’t pay!
Reporting nonpaying customers to an agency like Equifax is an option - but if you do it for one customer, you have to do it for them all.
Rajendra Hariprashad, Glen Oaks, N.Y.
Can a small business make a negative report on their clients’ credit report for not paying their bill? If yes, how can it be done?
Switching personal assets to business assets
B.H., Deltona, Florida
How do I switch a personal car title/registration into an S-corp business name? How do I record taxes on this? Read more…
Paying your own salary
Bidhu Prakash, Ellicott City, Md.
My wife and I are the owners and the sole officers of an LLC. We make money only when we are on a project. Do we still need to pay a salary to ourselves if we are between projects and not making any money during this period? Read more…
What’s a fair split when partnering up?
A software inventor checks with Ask FSB’s experts for advice on whether a 50/50 split with a sales and marketing partner is a reasonable deal.
Eugene, Santa Monica, Calif.
I have a software product that I developed myself. I found a company that is willing to sell the product, and they would like a 50/50 deal: They’ll be responsible for advertising and selling and I’m responsible for continuing development of the software. Am I giving them too much of the profit? Read more…
Picking the least-taxing business structure
Forming a corporate entity can be financially and legally advantageous, but check out tax and insurance considerations first, the experts advise.
Jennifer, Flagler Beach, Fla.
I am a licensed professional (a mental-health counselor) doing contract work paid under a 1099, for tax purposes. Can I remain self-employed, or do I need to set up as a professional association, an LLC or a corporation? Are the tax rates different? Read more…
Business loans from Uncle Sam
The government can help you get cash with the SBA’s 7(a) program, but banks still hold the purse strings.
Chris Holm, LUK Industries, Chandler, Ariz.
I run an Internet retail store that has been in business for just over a year. The business is running in the black, so I want to move some of our start-up costs to a fixed-rate loan. Is an SBA 7(a) loan the right choice for us? Read more…
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A rural indie channel is paying $25 million to pair the shock jock's chatter with tractor pulls and Christian cowboys. more
