Starting a business and embarking on the entrepreneurial journey is an exciting challenge. As you craft your business plan, strategize marketing efforts, and assemble your dream team, it’s important not to forget the vital task of incorporating your business. It may sound complicated, but in reality, you’re simply creating a legal entity that is separate […]
If there’s one thing that small business owners and entrepreneurs need to know right off the bat – it’s how to maintain their records. Sloppy financial records can spell disaster for small businesses. If you can’t keep up with your books, you’ll find yourself in trouble further down the line if you ever run into […]
Tax deductions are by far the most exciting topic that falls under the “taxes” umbrella. Most people are aware that deducting things from their taxes means that they get more money back on their refund. Or in the case of businesses, it means lower payments to the IRS each year. But despite the exciting topic, […]
In today’s fast-paced digital landscape, small businesses are turning to e-commerce platforms as an additional avenue for showcasing their products. Although traditional brick-and-mortar stores remain a popular choice for conducting business, launching an online store presents a more efficient and dynamic approach to reaching customers. Embracing the world of e-commerce not only offers numerous advantages […]
You’re an entrepreneur starting your own business and want to do everything possible to set your company up for success. You need to decide how best to structure your business and how you will handle your tax liability as a business owner. There’s a lot of information, but it’s hard to figure out how it […]
Establishing your small business as a Limited Liability Company, or LLC, offers many benefits, from increased credibility to personal asset protection. LLCs provide owners or members limited personal liability if the company experiences legal trouble. Members can include corporations, foreign entities, individuals, and other LLCs, with membership ranging from a single owner to unlimited owners. […]
Being self-employed brings with it a lot of independence. You get to make your own choices and set your own hours. You work when you want to work! But for better or for worse, that independence also means a lot more responsibility. You’re operating your own small business, and as a result, you’re responsible for […]
For business owners, equity is a vital tool that you can use to your advantage. There are different equity types that serve different purposes within your business. Here’s an overview of what equity is and how to calculate equity in a business. What does equity mean in business? Equity comprises the net value of a […]
While hiding one’s head in the sand can feel better than actually dealing with the problem of tax debt after an IRS Audit, it needs to be dealt with sooner rather than later. Especially if a taxpayer has plans to travel, needs to travel for work, or would like to be able to travel internationally […]
When hiring a tax professional, small business professionals have a lot on their plates. Between managing a team, marketing their products and services, and staying on top of industry trends, there are a lot of responsibilities to juggle. However, one area of work that small business owners would benefit from outsourcing is accounting. Tax professionals […]
