Legal Question in Business Law in Iowa
I plan on putting an ad in the paper to rent out items that I have for weddings. At what point do I need to claim that for tax purposes and also at what point will I need to get a tax id number and would have to list it as a business?
Asked on 3/23/10, 1:24 pm
1 Answer from Attorneys
Robert Luedeman
solo practitioner
You claim an expense for the tax year in which you incurred it, you need not get a tax number unless you are going to be selling a service in Iowa for which taxes are charged, and you will have to declare it as a business enterprise when you file your income taxes-which you may have to do on a quarterly basis.
Answered on 3/28/10, 2:43 pm
Related Questions & Answers
-
I'm a member of a gym here in Iowa and recently used their tennis courts. A month... Asked 3/15/10, 4:52 pm in United States Iowa Business Law
-
I gave my sister my credit card to use once at an Iowa city gym and they enrolled... Asked 3/10/10, 5:58 pm in United States Iowa Business Law
-
As a founder for a non profit group i wish to remove my name from the founders... Asked 3/10/10, 12:34 pm in United States Iowa Business Law
-
What licenses or permits are required to own and operate a coffee shop Asked 3/03/10, 11:52 am in United States Iowa Business Law
-
We want to start a business. We live in Iowa but want to incorporate in South... Asked 2/22/10, 5:18 pm in United States Iowa Business Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
