Doing business in California is expensive. Many businesses, though, are ok with the high costs because of the Golden State’s strong economy and numerous opportunities to grow. But there’s no question that California has more fees and red tape to cut through than many other states. Limited Liability Companies (LLCs) operating in California are taxed […]
Starting your own business can be a huge learning curve. With so much to learn, taxes can feel like another challenge added to your list. We understand how challenging taxes can be – so we created a small business tax guide for beginners. This guide includes step-by-step instructions for filing your taxes for the first […]
You’ve carefully planned your 2024 business budget and you added a cushion in case unexpected costs pop up during the year. You can’t predict everything, but don’t let a surprise tax bill derail your business spending. This article will explain how to determine your small business tax liability in 2024. You’ll learn how to find […]
Payroll compliance is an important aspect of running your small business. The goal of payroll should be to pay your employees correctly and on time while ensuring that you take appropriate actions to comply with Internal Revenue Service (IRS) standards. Completing and filing the correct payroll-related form is an essential part of fulfilling your payroll […]
Officially establishing your business as a limited liability company (LLC) is an excellent choice due to its numerous advantages. You’ll enjoy simplicity and flexibility in how you are taxed, along with protecting your personal assets, which shields you from business liabilities. If you handle your business’s financial work, you need to be aware of the […]
If you’re a small business owner, you know how valuable your time is. You want to approach tax season feeling confident about your business tax compliance, not worrying about time-consuming return prep and potential tax penalties. This guide will help you understand how – and when – to prepare for your business tax return filing. […]
The entity you choose can have serious implications for you and your business, including taxes, raising capital, and personal liability. Selecting the right entity has numerous benefits and can make a positive immediate impact. For example, small business owners who select their optimal entity can cut their tax burden in half in their first year […]
Ensuring your business is firing on all cylinders and moving in the right direction can be incredibly challenging, especially when you have partners. That’s before you attempt to navigate mountains of complex financial work, including Form 1065 the US Return of Partnership Income, that can get in the way of building your business. If you […]
Partnering with vendors is an important part of being a small business owner. One aspect of working with vendors is making sure you’re complying with applicable state and federal tax rules. Similar to employees having a set of tax rules that business owners must follow, vendors have their own set of rules that owners are […]
Establishing your limited liability company (LLC) in the big, bustling state of Texas offers numerous advantages. Texas features a pro-business climate and a large professional workforce, making it an attractive choice no matter your industry. But before you send your paperwork to the Secretary of State, there are some things you should know. While certain […]
