h****e
发帖数: 2125 | 1 A Mexican CPA told me I don't have to do it as I will need to pay social
security taxed. I only need to do tax return at year end.
I'm worried about whether this is correct, shouldn't I at least do
quarterly report to avoid IRS penalty? Is corp-2-corp different than 1099? |
R****a
发帖数: 131 | 2 Is your company a one-man company?
【在 h****e 的大作中提到】
: A Mexican CPA told me I don't have to do it as I will need to pay social
: security taxed. I only need to do tax return at year end.
: I'm worried about whether this is correct, shouldn't I at least do
: quarterly report to avoid IRS penalty? Is corp-2-corp different than 1099?
|
h****e
发帖数: 2125 | 3
yes.
【在 R****a 的大作中提到】
: Is your company a one-man company?
|
R****a
发帖数: 131 | 4 If your company is sole prop. and you have no employee, then you don't need
to file payroll returns
【在 h****e 的大作中提到】
:
: yes.
|
h****e
发帖数: 2125 | 5
need
do i need to do quarterly report? for 1099 i have to otherwise IRS will
charge me penalty. is corp-2-corp different? i don't need to pay any taxes
until next January? in next Jan I simply pay a huge amount of taxes at
once and there will be problem?
THANKS A LOT!!!
【在 R****a 的大作中提到】
: If your company is sole prop. and you have no employee, then you don't need
: to file payroll returns
|
h****e
发帖数: 2125 | 6 besides can i still buy 401k if i don't do payroll? thanks a lot! |
a**e
发帖数: 5794 | 7 一个人的公司如果钱赚得足够多，还是要每个季度交
self-employment tax。
need
【在 R****a 的大作中提到】
: If your company is sole prop. and you have no employee, then you don't need
: to file payroll returns
|
R****a
发帖数: 131 | 8 but that goes with your individual return,
【在 a**e 的大作中提到】
: 一个人的公司如果钱赚得足够多，还是要每个季度交
: self-employment tax。
:
: need
|
h****e
发帖数: 2125 | 9
say i have $10K each month goes to my business account, then i transfer
all of them to my personal savings account. do i need to pay estimate
taxes each quarter to IRS as individual income?
thanks!
【在 a**e 的大作中提到】
: 一个人的公司如果钱赚得足够多，还是要每个季度交
: self-employment tax。
:
: need
|
R****a
发帖数: 131 | 10 In your case, you may be subject to quarterly estimate tax, need to file 1040-ES
【在 h****e 的大作中提到】
:
: say i have $10K each month goes to my business account, then i transfer
: all of them to my personal savings account. do i need to pay estimate
: taxes each quarter to IRS as individual income?
: thanks!
|
|
|
g********g
发帖数: 2172 | 11 Also, file your state and local (if you have) 1040-ES.
1040-ES
【在 R****a 的大作中提到】
: In your case, you may be subject to quarterly estimate tax, need to file 1040-ES
|
g********g
发帖数: 2172 | 12 You do not have to. But you will have to pay penalty in the annual tax
return.
【在 h****e 的大作中提到】
:
: say i have $10K each month goes to my business account, then i transfer
: all of them to my personal savings account. do i need to pay estimate
: taxes each quarter to IRS as individual income?
: thanks!
|
g********g
发帖数: 2172 | 13 Estimation. Self-employment tax is Social security tax and Medicare Tax,
which are part of the Estimation.
【在 a**e 的大作中提到】
: 一个人的公司如果钱赚得足够多，还是要每个季度交
: self-employment tax。
:
: need
|
g********g
发帖数: 2172 | 14 401K is for payroll only. For self-employment, you can put money into SEP
IRA, which has much higher cap than 401k.
【在 h****e 的大作中提到】
: besides can i still buy 401k if i don't do payroll? thanks a lot!
|
h****e
发帖数: 2125 | 15
so if i pay quarter tax ES i wont get penalties from IRS, correct? in next
jan i will just have to ask CPA to do business tax return and income tax
return, right?
【在 g********g 的大作中提到】
: Estimation. Self-employment tax is Social security tax and Medicare Tax,
: which are part of the Estimation.
|
g********g
发帖数: 2172 | 16 Right if your estimation is equal to or higher than what you should pay. My
estimation is usually lower than the real amount since I do not want IRS to
return me money, which has some risk. So I will have some penalty every year
. Not much though.
【在 h****e 的大作中提到】
:
: so if i pay quarter tax ES i wont get penalties from IRS, correct? in next
: jan i will just have to ask CPA to do business tax return and income tax
: return, right?
|
a**e
发帖数: 5794 | 17 IRS还钱给你有什么风险？
My
to
year
【在 g********g 的大作中提到】
: Right if your estimation is equal to or higher than what you should pay. My
: estimation is usually lower than the real amount since I do not want IRS to
: return me money, which has some risk. So I will have some penalty every year
: . Not much though.
|
h****e
发帖数: 2125 | 18
guess it's easier to get audited. it's always harder to getting money than
giving money...
【在 a**e 的大作中提到】
: IRS还钱给你有什么风险？
:
: My
: to
: year
|
