SOLE  Proprietor’s – Self Employed

What are the Paper work and forms required to get Guaranteed Issue Medical Coverage

Rules Summary -

Requires Broker Password

Rules Summary - Requires Broker Password

Enter your census and we will get right back to you with quotes
Enter your census and get instant proposals for California - then email us [email protected] if you need additional information or to enroll

Health Care Reform ACA/Obamacare – AB 1083

Requires that you prove that your business, is a bonifide Employer, with at least ONE   bonified common law employees and owner’s who are really working 30+ hours, the same as before under AB 1672.

SHOP’s Employer application on page 2 has a nice simple matrix to show you what documents are needed for each type of business structure, propritorship, corporation, llc, etc.

Please send email [email protected] your documents to us so that we can review your paperwork to help you make sure you qualify.

Typical Required Documents

If you are not on the  DE 6 or 9 (Payroll Tax Reporting form for the State of CA and you’re actually working the required 30 hours/week  then we need a Signed Statement attesting to it.

Current Schedule 1040 C  Profit or Loss from a Business

You file Schedule C filed annually and attach it to Form 1040 (a farming sole proprietorship files Schedule F, Profit or Loss From Farming.) loop hole lewy.com

Other licenses….  such as:

LA City Business Tax 

Business Licenses are sometimes accepted in lieu of the 1040 for brand new biz.  License might still be required anyway. LA County Business License

Fictitious Business Name – Los Angeles Search * Filing  *  

Who should file a fictitious business name?

  • Persons doing business for profit under a fictitious name (does not include surname in company name).
    •  if John Doe formed a bakery called Doe’s Donuts, he may not need to file a DBA. But if his business was going to be called John’s Donuts, he would. The last name is the key. If he or she does not intend to use his or her last name, a DBA should be filed. Upcounsel.com
    • This filing is required by law in order to connect the name of a business to the business owner. This protects consumers because it allows them to get information about the owner of a company if they have consumer problems or need to file a lawsuit. Free Advice.com
  • Statement must be filed in county of principal place of business and may also be filed in other counties as long as the requirements for filing in the county of principal place of business have been met.
  • Non-profit corporations, organizations or associations are not required to file a Fictitious Business Name Statement  LA VoteLA Vote

Husband & Wife as Co-Sole Proprietors Must meet minimum hours 30 full time, 20 part time  §10700 (f) and have at least 2 employees (workers)   (w) Learn More

Resources

Sole Proprietorship Franchise Tax Board CA

Form 540/540A Booklet

Excerpt of Signed Statement form that you work, but not on payroll

Flow Chart - Requirements to Prove Business Eligibility 
Flow Chart for AB 1672 proof of bonified business and employees

Reference - Please check with us on latest AB 1083 Requirements

Warner Pacific 411 Broker ONLY

Steve Shorr Explanation of Participation Rules Pre - ACA

 

CA Franchise Tax Board’s Guide & IRS to:
Common Forms of Ownership

 

Sole Proprietorship
General Partnership
Limited Partnership

Corporation

Personal Service Corporation
Benefit Corporation
Social Purpose Corporation
Nonprofit Corporation

Limited Liability Company

Single Member Limited Liability Company
Limited Liability Company Classified as a Partnership
Limited Liability Company Classified as a Corporation

Appendices

Appendix 1: Doing Business As
Appendix 2: Commonly Used Terms

 

IRS

  • Choose a business structure. The form of business determines which income tax return a business taxpayer needs to file. The most common business structures are:
    • Sole proprietorship: An unincorporated business owned by an individual. There’s no distinction between the taxpayer and their business.
    • Partnership: An unincorporated business with ownership shared between two or more people.
    • Corporation: Also known as a C corporation. It’s a separate entity owned by shareholders.
    • S Corporation: A corporation that elects to pass corporate income, losses, deductions, and credits through to the shareholders.
    • Limited Liability Company: A business structure allowed by state statute.
  • Choose a tax year. A tax year is an annual accounting period for keeping records and reporting income and expenses. A new business owner must choose either:
    • Calendar year: 12 consecutive months beginning January 1 and ending December 31.
    • Fiscal year: 12 consecutive months ending on the last day of any month except December.
  • Apply for an employer identification number. An EIN is also called a federal tax identification number. It’s used to identify a business. Most businesses need an EIN.
  • Have all employees complete these forms:
    • Form I-9, Employment Eligibility Verification
    • Form W-4, Employee’s Withholding Allowance Certificate
  • Pay business taxes. The form of business determines what taxes must be paid and how to pay them.

Taxpayers interested in starting a business can find information for some industries on the Industries/Professions Tax Centers webpage. Each state has additional requirements for starting and operating a business. Prospective business owners should visit their state's website for info about state requirements.

More information:

Leave a Reply

Your email address will not be published.

wp-puzzle.com logo