Once a year, we record the teaching sessions of a church conference and sell the CD’s to attendees who wish to purchase them.
Half of the sales price goes back to the church and we keep the other half.
We should file a sales tax report and pay what is owed, but do I calculate the tax due based on just my half of the sales price since the other half goes to the non-profit? I’m not trying to be cheap or scam on sales tax, I just really am not sure which is correct.
Thanks for your help.
I have an S Corporation with one bank account in which I deposited a few thousand dollars. Some of that money has been used as startup costs. A few hundred dollars have been added to the bank account as revenue from Google AdSense ads. Can anyone tell me what lines I need to fill out for the S Corp return? And should the rest all be -0-?
I started an online businees one year ago and at that time I don’t have any money so my relative who was willing to support me and give me the start up money about US$10000 for starting and we both agree that if we make profit, I only take either 50% or maximum US$5000 monthly. And the rest of the profit will T/T wire to him in Japan. How can I report this tax, do I need to pay taxes on the money I wire to this partner, can I claim that is an expense. Please help me. I don’t want to be illegal but I also don’t want to pay too much tax.
Can a non-profit organization in ohio collect sales tax from a service that it provides to the community but keep the fee as fundraising revenues for the organization?
I’m pretty sure that you can’t do this but I have an old college buddy who bet me $100 bucks that you can and that their are other non-profit orginizations who does this as well. I am telling him that you can’t do that and he seems rather convinced that you can!
Someone please clarify this and help me win the $100 bucks.
nishu asked: I am graduate in B. Com. I have great inerest in Income Tax Law.I am doing service in private company. I want to do study in this course without taking any discontinuity in my service. I mean to say that I want to do study as well as service.Also help me in locating some instituitions who provides this course.
