The concept of debt is so ingrained in our culture that most people accept it as a necessary part of life. Many individuals accumulate personal debt, including credit cards, student loans, car payments, and mortgages. Another type of debt that may affect small business owners at one point or another is business debt. Businesses in […]
The U.S. tax code is an extraordinarily complex body of law that’s spread across nearly 7,000 pages. To further complicate things, it’s essentially a living document that gets revised and amended every year. To put it simply, taxes are complicated and without a dedicated accounting expert on your side, it can be near impossible to […]
Starting an S corp in New York City can provide significant benefits for your small business. New York has a robust economy, bustling metropolitan areas, and an expansive workforce. New York State offers an attractive environment for businesses to grow and thrive, making it an ideal location for entrepreneurs to launch their S corporations. Before […]
Small businesses in California (even those with a California LLC or limited liability company) may benefit if they start an S corp in California. Although a California S corp is a great business entity, there are things worth considering first. All corporations must convert to an S corp. The state also requires its own form […]
The basics of accounting for a partnership business are similar to accounting for a sole proprietor. However, there are some key differences that are worth knowing when it comes to crunching the numbers. A partnership differs from a sole proprietor in that a partnership is a collection of multiple sole proprietors. For multiple sole proprietors […]
Starting an LLC in New York can significantly your business growth, thanks to its large population and its business-friendly environment. It’s important to be aware of the essential aspects involved in creating an LLC in New York. There are many necessary forms and strict deadlines that must be met to avoid severe penalties. To help […]
Starting a business can be a daunting task, and choosing the right city to set up shop can be just as challenging. The good news is that there are many cities in the the United States that offer great opportunities for entrepreneurs. We’ve created this guide with the help of organizations that study and rank […]
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 […]
The last thing any small business owner wants is an audit notice from the IRS. But there is a certain comfort in knowing your returns are accurate and you have the paperwork to back them up. That way, you know you’ll have a strong defense. But what happens if you get audited and don’t have […]
