Whether you are a career eBay seller in Idaho, or just making some extra cash, taxes can be a very daunting part of your new venture. Do Idaho eBay Sellers Have to Pay Taxes? Any profit from your eBay sales is considered when you determine your taxable income. In...

Idaho Business Basic fire Insurance If you bought all the different kinds of Idaho business insurance available to you, you’d be broke before you made your first sale. First, determine what insurance is required by law, what insurance is required by your landlord or...

Assets that are being depreciated are written off over a period of years, known as the “write off period” (also known “recovery period”).  Here are the write off periods for assets most used by Idaho businesses and farmers: 3 Years: Idaho web site design. Some...

A loss on your Idaho business tax return is by no means a sure cause for audit. It is not uncommon for new businesses to show a loss in the first year or two, with high start-up costs and early, slow Idaho business. A warning, however,  to people who manage to show a...

Idaho Business Financial Statements Explained Accountants supply information to people both inside and outside the Idaho business by issuing formal reports that are called financial statements. The financial statements are usually issued at least once a year. In many...

Idaho Business Consignment Rules Idaho Consigned inventory is merchandise an Idaho business or an individual place with another Idaho business for the other business to try to sell. A dressmaker may consign inventory to a dress shop. The person consigning the goods...

Your Idaho business will be required to identify itself on tax forms and licenses by either of two numbers: your social security number or a federal employer identification number (called FEIN or more often EIN). So, proprietors can use either number, your choice,...

Some Idaho businesses are naturally suited to be operated out of home, and others, of course, or not. Ideal home businesses are those where the location of the business is not a significant factor in the success of the business; Idaho businesses that require little...

Opening a new Idaho business starts by forming your Idaho business’s legal structure, finding a location, obtaining necessary permits, and operating licenses.  Are You Buying an Existing Idaho Business? You may also be buying unpaid debts, unpaid taxes, worker’s...

Idaho Corporation Common Stock vs. Preferred Stock When an Idaho corporation receives its charter from the state of Idaho, it can sell shares of stock to the public. The shares can be sold to investors, families, staff on an individual basis. However, an Idaho company...

What Are Ordinary and Necessary Expenses? Ordinary and necessary expenses are expenses incurred by individuals as the cost of owning a business or carrying on a trade. “Ordinary and necessary” expenses are categorized as such for Idaho income tax purposes, and these...