Before you even begin to launch your business plans, you need to determine the right entity formation. There are several options to choose from. Many smaller businesses might opt for a sole proprietorship, partnership, or LLC. Your choice will depend on the ownership, business model, and your possible liabilities. These Read more…
Side hustles are getting to be as common as some of the hobbies which lead people to try to make a little extra from home. Some have used the layoffs of our uncertain economic climate as a push to take it to full-time. With all of the technology at our Read more…
What’s in a name? That which we call a rose by any other name would smell as sweet.” Or, so Juliet believes. In the real world, people make snap judgements based on the first observations that they make. Your business name is likely to be the first thing that a Read more…
Pros of an S Corp S Corporations offer several advantages if your company qualifies: Tax advantages: S Corporations are exempt from federal income tax except for certain capital gains and passive income. Similar to the LLC, the S Corporation allows profit to pass through to its shareholders, and the income Read more…
Unlike traditional C Corporations, also called C Corps, the S Corporation is not subject to corporate income taxes. Instead, the S Corporation receives different treatment for tax purposes that is generally more favorable to the business owner. The S Corp is a pass-through entity for tax purposes, similar to the LLC. This Read more…
If you are like most business owners out there, you are working tirelessly to turn your business dream into a reality. As this happen and your company grows, your tax rate and responsibilities tend to grow as well. Growing companies face a variety of complexities during tax season, and that’s Read more…