I need a bank account for the online small business I’m starting with my sister?

Posted July 27th, 2008

Michele M asked: I need to know a few things:
1. At what point must I start paying taxes on the money we make (this is selling things as much as you would at a yard sale, maybe $200 per month right now) and who pays the taxes? The company itself?
2. Where can [...]

PayPal funds deposited in US bank and then transferred into business account abroad. Tax Liability to IRS?

Posted March 28th, 2008

Lawrence W asked: If I am accumulating funds for my offshore business into a PayPal business account and then depositing those into a US personal account which then gets transferred into a business account in Costa Rica since my business is based in Costa Rica, am I liable for paying corporate or personal taxes to [...]

Are the modern wealthy similar to the emerging feudal burgeious class?

Posted March 28th, 2008

Jesus Touched Me asked: I remember reading about feudalism in a World History class. There was this chapter about the bourgeois class that had emerged and didn’t think they should pay taxes. The only way to avoid paying taxes was to gain noble status. Historically they had to be born into noble [...]