Tax Law (Questions About Taxes)/tax


QUESTION: I have an internet magazine and I want liability protection therefore I want an LLC. My question is if for example if I get an LLC in one month can I include expenses in it from 3 months past? Also, what kinds of expenses can I include and how does that affect my personal taxes?

ANSWER: What do you need liability protection from?  Of you, personally, do wrong (ir tort or slander) you won't be able to "hide" behind an llc anyway.   Is your magazine controversial?

Insurance is probably cheaper and a better tax answer

Depends upon what activity you do in net (referral marketing, Google ads etc)  you might owe tax in jurisdictions other than maryland (Google "tax and economic nexus")

Do you pay people to provide content? If so, are they also in Maryland? Or other states...?

How profitable is it?

You have a ton of biz AND tax issues ahead of you. Not just llc status

I can recommend a maryland cpa if you are interested...

---------- FOLLOW-UP ----------

QUESTION: Yes, recommend me a Maryland CPA. My website is just starting and I want to cover the whole ground now before launch. My writers are from all over the world. I want protection if someone claims I might have plagerized an article (unlikely but I want protection anyways). The main reason I said LLC is because all of my competition are listed within an LLC so I thought there must be a good reason for that and also I want to be able to deduct expenses during tax time. I'm open to the insurance idea though. What is a good reason for LLC then?

sorry for delay.  

send me a new inquiry with the PRIVATE box marked. i will send you a name or two. I used to work in Frederick a lot and have  a good friend in Potomac (even though I live in CT).

I am also willing (able) to work remotely..


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Tax and general business including hospitality related (hotel mgmt degree and experience in industry prior to obtaining ms tax and cpa).


19 years cpa. ms tax. NOTE: My discussions are only a general information and do not constitute tax advise without entering into a specific agreement and executing an engagement letter; This free chat is nothing more than general information and should not be construed as tax advice nor does my response or replies imply an agreement to provide client specific advice or other guidance for purposes of avoiding IRS tax or penalties and should not be relied upon without your own validation and confirmation of the how the discussion may fit your facts... Not having all the facts and/or not having a direct client relationship prevents me from providing the most accurate replies as possible and I highly suggest using a local CPA to provide you with written advice and guidance. Taking matters into your own hands is much akin to trying to land an airplane without a license. It is easy to FLY a plane, but LANDING is when critical experience is key. In short, caveat emptor; do your homework and don't just rely on free chat board advice anywhere, anytime.

AICPA, CSCPA (Ct society), National Tax,

a bunch.

MS tax and other post graduate coursework

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variety including Summa Cum Laude

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