For entrepreneurs starting a small business for the first time, it’s easy to feel a bit overwhelmed by all of the funding options available. Do you go with the first offer made to you or shop around? Is it better to go it alone with your personal savings and bootstrap instead? And what about crowdfunding […]
Small businesses may be making great contributions to the U.S. economy, but their financial health is in critical condition. According to a 2016 JPMorgan Chase Institute study, most small businesses only have 27 days’ worth of money on hand to cover expenses if inflows stopped. Essentially, this means that many small businesses are operating on […]
Another tax season has passed us by once again. If you filed your return(s) on time this year and did not need to obtain a 6-month extension from the IRS, you are probably done with your biggest tax responsibilities of the year. But don’t run for the beach or hop on a cruise ship too […]
When it comes to starting a business with low overhead, opening an online store seems like a surefire bet. You run operations from the comfort of your PJs, and there’s no need to rent out a space or hire an arsenal of employees. However, opening an online store still has some financial concerns involved. Learn […]
We all know that April 18, 2017 is Tax Day this year – the day by which personal income tax returns must be postmarked and mailed or electronically filed with the IRS. However, many taxpayers forget that this longstanding personal filing deadline also represents an estimated tax payment deadline. What Are Estimated Taxes? The concept […]
S Corporations are considered to be the most prevalent type of corporation with entrepreneurs and the most popular in the United States, with tax year 2003 reporting that 61.9% of all corporations filing Form 1120S were shown to apply for S Corp status. What is it about this entity that makes it so popular with […]
Did you know that one-third of private employers are at risk of an FLSA lawsuit because of comp time (or, formally, compensatory time) issues related to their employees? Operating a small business comes with countless responsibilities, many of which some business owners are completely unaware that can put them into major hot water over legal […]
Whether you’re a family of five or a single college student, there’s a chance you are looking to get away from it all for a few days during the spring break period from early March through late April. Below are some quick tips on how to make your spring trip a little more affordable. 1. […]
Each and every year, the Internal Revenue Service releases a list of the “dirty dozen” tax scams the agency recommends taxpayers be on the lookout for throughout the year. That’s because scammers seem to come up with innovative tactics to bilk money out of innocent taxpayers all the time. The list also includes tax moves […]
“Lawyers are seldom loved but often needed,” according to Robert B. McCay, who was a former dean at NYU Law School. In the course of your business, you’re likely to incur legal expenses, some of which may be modest, but some may be substantial. If you thought that all legal fees paid by your business or by […]