Counsel
Ask an expert!
Legal, accounting and compliance advice from qualified professionals.
Wazzeer Professional Network
ProfessionalI want to know what are the legal and accounting compliance while starting a business?
I would like to know, in-depth details like Taxation, which I need to pay to the government when I started a business(partnered with a friend). I'm a job holder and want to start my own company legally. How could I survive from Tax? How much money do I need to pay yearly as Tax even if my business doesn't make revenue? Are there any legal issues by holding my Job and as well as an Own business both on my name? I would like to do projects for free to my clients, but, at the same time, I want to take some % of the money from the revenue generated through that project for my client. Is this legal and possible? If possible, what are steps to be taken by me?
-
Wazzeer Professional Network
ProfessionalBeing employed does not stop you from opening a company. You will be a Director of the entity. The business of your company cannot be a competition to your employer entity. You can get a consulting fee from your entity and that should be disclosed in your Tax Return. For the steps to be taken by you, 'Get a Wazzeer'about 5 years ago
View answer
I want to know what are the legal and accounting compliance while starting a business?
I would like to know, in-depth details like Taxation, which I need to pay to the government when I started a business(partnered with a friend). I'm a job holder and want to start my own company legally. How could I survive from Tax? How much money do I need to pay yearly as Tax even if my business doesn't make revenue? Are there any legal issues by holding my Job and as well as an Own business both on my name? I would like to do projects for free to my clients, but, at the same time, I want to take some % of the money from the revenue generated through that project for my client. Is this legal and possible? If possible, what are steps to be taken by me?
-
Wazzeer Professional Network
ProfessionalBeing employed does not stop you from opening a company. You will be a Director of the entity. The business of your company cannot be a competition to your employer entity. You can get a consulting fee from your entity and that should be disclosed in your Tax Return. For the steps to be taken by you, 'Get a Wazzeer'about 5 years ago
Looking to hire a professional from our handpicked community?
Explore our services, submit your request and let us do the rest for you.