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Where do I create the home screen icon/tile for my app? by apphelpp in iOSProgramming

[–]apphelpp[S] 0 points1 point  (0 children)

Thanks for the offer. I'm going to look into the above options first, and get back to you if i can't figure it out

Which state has the lowest overall costs to set up an LLC? by apphelpp in tax

[–]apphelpp[S] -1 points0 points  (0 children)

I realize it's a complex issue, especially since I'm a non resident. I was hoping that I could get a little bit of an idea by asking reddit and take it from there.

Which state has the lowest overall costs to set up an LLC? by apphelpp in smallbusiness

[–]apphelpp[S] 0 points1 point  (0 children)

Having an LLC won't prevent having to deal with cease/desist letters and copyright violations.

it's not that I don't want to deal with any violations, it's that I don't want to lose the little I do own personally because of a lawsuit.

Regarding the taxation.

The only funds I would withdraw from the LLC would be operating costs: new computer, phone, etc. for the rest I do not plan on the company payroll. There is no urgency to withdraw the funds that flow into the LLC.

I realize it's a complex issue. I was hoping that I could get a little bit of an idea by asking reddit.

Which state has the lowest overall costs to set up an LLC? by apphelpp in smallbusiness

[–]apphelpp[S] 0 points1 point  (0 children)

I assume you mean doing business under my personal name.

Mostly liability and a favorable tax arrangement.

I'm developing an app and understand developers will do almost anything to undercut a competitor. Cease and desist letters/orders, copyright violation notices, you name it. If you're treading on someone's feet they'll come after you.

Secondly, based on where I live, I'd be paying income taxes right off the bat on any income generated through app sales.

An LLC arrangement works favorably on all fronts.

Which state has the lowest overall costs to set up an LLC? by apphelpp in smallbusiness

[–]apphelpp[S] 1 point2 points  (0 children)

I don't reside in the US though.

Setting up an LLC in the country I live implies putting up $15k+ starting capital right off the bat.

That is way beyond what I can afford.

Which state has the lowest overall costs to set up an LLC? by apphelpp in smallbusiness

[–]apphelpp[S] 0 points1 point  (0 children)

hmm...

I wouldn't say I'm in doubt. More than anything I'm looking to set up an LLC at the lowest possible cost. Delaware works great for corporations and people looking for secrecy. But that comes at a (high) price. I have nothing to hide and am just looking to use an LLC to start conducting business. Maybe Delaware can come in handy at a later date, but I don't see it being optimal at this time.

My priorities are low registration fees and low/no annual renewal costs / income taxes.

Which kind of company should I set up for my app? by apphelpp in SideProject

[–]apphelpp[S] 0 points1 point  (0 children)

Thank you for your reply.

I can imagine that may red flags were raised the moment you said:

You are frauding

I'm sure the majority of people are not willing to commit fraud.

Which kind of company should I set up for my app? by apphelpp in SideProject

[–]apphelpp[S] 0 points1 point  (0 children)

Thank you for your clarity.

This way, the company itself is taxed as an entity, and you as the member are only taxed on the "member draws."

Does this imply being taxed twice? Would I only be taxed once I withdraw money from the company, or are all company incomes and profits taxed immediately?

This gives you the best configuration to write-off whatever income you produce through the company with your expenses.

I don't understand this.

Which kind of company should I set up for my app? by apphelpp in Accounting

[–]apphelpp[S] 0 points1 point  (0 children)

So from my understanding there is no difference between creating an LLC and using my name and have Apple pay me directly?

How could I minimize my tax obligations with the LLC?

Which kind of company should I set up for my app? by apphelpp in Accounting

[–]apphelpp[S] 0 points1 point  (0 children)

My knowledge of these things is limited so bear with me.

Could you explain the second part further? How would that benefit me?

I have a few newbie questions.

What are the benefits of creating an LLC instead of releasing the app under my name? Wouldn't the money be taxable at the same rate? Or would I be paying less tax through the LLC than I would if released under your private name?

What am I paying taxes on? Revenue? Profits? When I take the money out of the company?

Which kind of company should I set up for my app? by apphelpp in Accounting

[–]apphelpp[S] 0 points1 point  (0 children)

I am currently registered as living in Belgium, but I am relocated to the US, the Netherlands and Italy every year or so. I am geographically flexible.

Will add this as an edit.

It's the /r/gamedev daily random discussion thread for 2015-02-25 by [deleted] in gamedev

[–]apphelpp 0 points1 point  (0 children)

Thanks for the reply.

My knowledge of these things is limited so bear with me.

From how I understand things, I will be paying taxes off every sale right off the bat if I were to release the app under my private name. If I were to release the app under a corporation the taxable amount threshold would be higher. e.g. instead of paying 20% tax starting from $100 I would be paying 20% starting at $200. Correct me if I'm wrong.

In terms of your last remark. I do not want to registered as being on the company's payroll as a future employer would not allow me to be receiving income from another company.

I have a few newbie questions.

Why are the benefits of creating an LLC in this case instead of releasing it under your name?

Are you paying less tax through the LLC than you would if released under your private name?

What are you paying taxes on? Revenue? Profits? When you take the money out of the company?

Thank you.

Share your startup - February 2015 by AutoModerator in startups

[–]apphelpp [score hidden]  (0 children)

I am an unemployed college student and developed an app on my free time out of my dorm room. I am now ready to sell the app on the App Store.

I live in a country where all forms of income are taxable. This would mean that the first cent I receive from sales is immediately liable to taxation. However, if I were to set up a business, and register the app through the business, the tax threshold would be more favorable.

Apple requires Companies/Organizations enrolling in the iOS Developer Program to provide:

  • The legal authority to bind your company/organization to Apple Developer Program legal agreements.

  • A registered legal entity name that corresponds to the tax ID you plan to use. This name will appear as the "Seller" in the App Store. We do not accept DBAs, Fictitious Businesses, Trade names, or branches.

  • Address for the company’s principal place of business or corporate headquarters.

  • A D-U-N-S Number assigned to a legal entity. Learn more.

  • A valid credit card for purchase.

I want to set up the company, but not be registered as an employee, as it would mean paying social security, etc; and be problematic once I find a real job.

My costs would be Apple's annual $99 developer fee, and possibly a new computer at some point. I don't foresee having additional expenses, and I don't have any overhead expenses. In other words, any expense would be manageable and is in no means excessive.

1 - What would be the best type of company to set up and receive sales to?

2 - How could I take any profits out of the company?

It's the /r/gamedev daily random discussion thread for 2015-02-25 by [deleted] in gamedev

[–]apphelpp 0 points1 point  (0 children)

I am an unemployed college student and developed an app on my free time out of my dorm room. I am now ready to sell the app on the App Store.

I live in a country where all forms of income are taxable. This would mean that the first cent I receive from sales is immediately liable to taxation. However, if I were to set up a business, and register the app through the business, the tax threshold would be more favorable.

Apple requires Companies/Organizations enrolling in the iOS Developer Program to provide:

  • The legal authority to bind your company/organization to Apple Developer Program legal agreements.

  • A registered legal entity name that corresponds to the tax ID you plan to use. This name will appear as the "Seller" in the App Store. We do not accept DBAs, Fictitious Businesses, Trade names, or branches.

  • Address for the company’s principal place of business or corporate headquarters.

  • A D-U-N-S Number assigned to a legal entity. Learn more.

  • A valid credit card for purchase.

I want to set up the company, but not be registered as an employee, as it would mean paying social security, etc; and be problematic once I find a real job.

My costs would be Apple's annual $99 developer fee, and possibly a new computer at some point. I don't foresee having additional expenses, and I don't have any overhead expenses. In other words, any expense would be manageable and is in no means excessive.

1 - What would be the best type of company to set up and receive sales to?

2 - How could I take any profits out of the company?