Tag Archive | "Taxed."

If I Put $30,000+ In The Bank Right Now,would It Be Taxed Or How Does That Go?


Or would it never be touched if I am a tax payer and fulltime worker? and what if the balance went up higher than that,like up to $100,000? would that be taxed or can some of it be taken out of my account without my input on it since the amount is so high? I’m trying to get a better understanding on taxing and economics

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How Llc Companies Are Taxed.?


I got a quick question about how LLC companies are taxed. Do the companies get taxed on the total income or the total profit? For example lets say
$0-50k = 15% taxes and
51k-$100k = 25% taxes to keep things simple.
Now lets say my companies sources of income are as follows for a given year.
Affiliate Income = $70,000
Product Sales = $10,000
Advertising = $5,000
So the total money that has went into the company is $85,000 for the year, but from that $70k from affiliate income the actual profit is only $20k as we give back around 70% of our affiliate income for referring users to other sites & services back to the users in form of cash and prizes.
So the actual income is $35k and lets say after fees like ( licences, maintenance, employees ect) are paid the net profit of the firm is $25,000 for the year. So do i pay 15% of 25k in taxes or 25% of 80k in taxes?

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