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Moving Company Tax Laws

Business Law discussions

Moving Company Tax Laws

Postby Checha » Fri Sep 30, 2016 6:17 pm

Hello, I am looking to start a small business, a moving company.  How do I report profit?  What are the tax laws? How does it all work?  I appreciate a prompt response.  Thank you very much in advance. Yelena Binder
Checha
 
Posts: 53
Joined: Tue Jan 07, 2014 7:03 pm

Moving Company Tax Laws

Postby Kotori » Fri Sep 30, 2016 10:29 pm

Hello, I am looking to start a small business, a moving company.  How do I report profit?  What are the tax laws? How does it all work?  I appreciate a prompt response.  Thank you very much in advance. Yelena Binder
Kotori
 
Posts: 47
Joined: Thu Feb 06, 2014 10:26 am

Moving Company Tax Laws

Postby Salvatorio » Sat Oct 01, 2016 8:04 pm

There are no special tax rules for a moving company.  If the company is a regular corporation, it will pay taxes on its taxable income.  If you do business as an S corporation, limited liability, partnership or other pass-through entity, the owner(you) will reports the income and losses on your own return.

Tax laws are complicated and compliance is essential.  For example, if you fail to withhold and pay payroll taxes on payments to your employees, you are PERSONALLY liable for those taxes.

If you don't have a thorough understanding of how a business is taxed, you need to get professional advice.

Good luck.
Salvatorio
 
Posts: 37
Joined: Wed Feb 12, 2014 11:54 am


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