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Clarity

JoAnn Fleming

Greater New York City Area

President of Fleming & Associates CPA for 20 years. I provide accounting, tax, audit, financial, forensic and valuation services to individuals and businesses. I have helped many businesses from start up to the sale or purchase of businesses and everything in between. We can help with most financial issues.

$5.83/min

10 Calls

4 Reviews

18 minutes
Avg. call

Business Valuation Accounting Litigation Support Fraud Corporate Tax Tax

Answers 5
Reviews 4

Answers

JoAnn Fleming answered

I'm a business in Canada (QC) that mostly does business with USA based clients over the web. What taxes do I need to apply?

You can take a credit in Canada for foreign taxes paid in the US. You should not pay tax twice on the same income.
Is the product or service you are selling subject to sales tax? You have to provide more info to determine that tax.

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Tax

Income Tax

Corporate Finance

JoAnn Fleming answered

What kind of taxes do I need to pay for an LLC service company that provides cleaning services in NYC?

The income tax you pay will be based upon the net profits of your business. The profit or loss will be taxed on your personal tax return. In addition to income tax, you will be subject to self-employment taxes.
Depending on the amount of tax that you will be have to pay, you may be subject to paying estimated taxes on a quarterly basis during the tax year, rather than just paying 100% of your taxes when you file your income tax return on April 15.

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Small Business

Tax

Income Tax

JoAnn Fleming answered

I am looking to set up an LLC outside of my state of residence. Does it matter what state I set up the related business bank accounts in?

I don't think it matters, but check with the bank.

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Income Tax

Corporate Tax

Tax Law

JoAnn Fleming answered

Can my S-Corporation receive a 1099 on my behalf?

You will have to report it on your personal tax return on Schedule C. If you deposited it into your S corporation bank account, it will be counted as income twice. You can expense it on your Schedule C and net to -0- since it included in your corporation income.
In the future, provide your S corporation name and federal ID# to insure that the income will be reported as corporation income rather than personal income.

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Income Tax

Corporate Tax

Tax Law

JoAnn Fleming answered

If I get a virtual address for my company and I work from home; will I still be eligible for tax credit on my home office?

yes. As long as your main place of work is your home/office.

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Tax

Corporate Tax

Tax Credits

Reviews

I asked JoAnn Fleming about a depreciation matter and she was very helpful and explained the solution and I could understand her. I hope to use her again.

Paul Warburton Source: Clarity

Great call with Joann. Very knowledgeable and helpful with my situation.

Mike Bonadio Source: Clarity

Extremely helpful. Will definitely use JoAnn's expertise again in the future.

Farbod Deylamian Source: Clarity

clear, definitive advice and suggestions for next steps.

Michael Alexis Source: Clarity

Member since July 2013