Businesses are the cornerstone of the American economy. As a business executive, it is important to stay up to date on all the documentation necessary to keep your corporation, LLC, or other entity legal. In most states, filing an Annual Report is required whether you make changes to your business, or not. The state of…
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There are several corporate structures that exist to fit everyone’s needs. From C-Corporations to LLCs, every corporate structure gets taxed differently. This article will highlight some of the major aspects of how each business entity gets taxed and help you choose which one would best suit your style of business. Sole Proprietor: Filed on a…
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Your personal information is as valuable as gold. As we are approaching the holiday season, it is important to protect your information at all costs. This article will highlight how to avoid common internet scams. Block unwanted calls and messages. Scammers are evolving their techniques and strategies to obtain your information. Whether through social media…
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What SBA Loan Types are available, and what are the Tax Ramifications that go along with these loans? The U.S. government has launched many programs to support local businesses. To add some more clarity, we want to share information on the two SBA COVID-19 loan options. Here’s a chart that shows a comparison between the…
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Cross your T’s and Dot your I’s If you are a business owner, you have to keep an eye on many aspects of the company. Making sure you remain profitable with a good debt to asset ratio is your number one priority and allows you to continue the venture and pay your loyal employees. However,…
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Whether you run an S Corporation or choose to invest in one, it is essential to keep a few key considerations in mind. The tax benefits gained from an S Corporation versus a C Corporation are crucial, and two main reasons for electing S Status are: Avoid double taxation on distributions Allow corporate losses to…
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An S Corp is the correct choice. Save money on taxes by setting up your small business as an S Corporation. While C Corporations may be required to pay taxes at both the corporate and individual levels, an S Corp avoids this double taxation. Business profits are also not subject to self-employment tax in an…
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The Benefits of Incorporating Choosing to incorporate your small business means more than just getting an INC after your business name. You may have noticed that many small business owners opt for an LLC, or limited liability company. Just like an INC, having an LLC protects your personal assets from being liable for your business…
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