What are capital gains on a rental property? Capital gains on a rental property are the profits made from selling real estate assets. When these transactions are not profitable, they’re referred to as capital losses. Special rules apply in regard to the basis for your gain or loss when an asset is received as a […]
Summer is just around the corner, which means Q2 quarterly taxes are due for many small businesses. While some businesses use a service to calculate and submit what’s owed, many owners will roll the dice and do it themselves, which makes them vulnerable to penalties and increased IRS scrutiny. Use this blog as your guide […]
Selecting the correct entity to form as is an essential part of running a successful small business in California. If you’ve never done it before or are a little rusty, use this blog as your guide to understanding the benefits of forming as an LLC in the state, along with detailed instructions on how to […]
Doing business as, commonly referred to as a DBA, is a great way to protect your small business interests. Mainly, a DBA will help your small business develop in a way that protects both your business name and legal name. Starting a DBA in New York is quick and easy and will only take a […]
Choosing between a member-managed and a manager-managed LLC is a pivotal decision in forming your business. In this blog post, we’ll break down these structures, guiding you to make the choice that best aligns with your business’s needs and objectives. This read will highlight the benefits of a manager-managed LLC, the nuances of LLC taxation, […]
What is a State Tax ID Number? A state tax ID number (also referred to as a state EIN, a state employer ID, or a state tax registration) is the unique number the state will assign to a business entity or organization. The state tax ID is associated with the state in which the business […]
It’s true what they say: everything is bigger in Texas. That also applies to your tax burden if you don’t understand how to navigate the Lone Star State’s unique tax laws and regulations. If you own a Texas business or want to learn how to start a business in Texas, use this blog as your […]
What is a Sole Proprietorship? A sole proprietorship is an unincorporated business entity that you own and control by yourself. What makes a sole proprietorship an appealing business structure is its simplicity, easy setup, and inexpensive cost. When starting a sole proprietorship, you do not have to fill out formal paperwork or register with your […]
Being a commercial truck driver isn’t just about the open road. It also involves handling tax responsibilities. Balancing the demands of the job, including tracking miles, logging hours, and meeting deadlines can get even further complicated by taxes. Commercial truck taxes require an understanding of the various taxes that apply to you. This knowledge is […]
Florida is one of the most business-friendly states in the country. While its economy and industries attract small businesses, it is also a tax-friendly state for small businesses. If you want to know how to start a business in Florida, you’ll want to know about taxes. Here’s what you should know about small business taxes […]
