As a business owner, you know first-hand that running and growing your company is a daily challenge. The same thing can be said about your tax situation. This article gives a brief overview of the primary types of business taxes you’ll likely encounter as a business owner: Income taxes, self-employment taxes, payroll taxes, and excise […]
Most small businesses must calculate and file tax returns with the IRS multiple times per year. It’s a crucial aspect of operating a business that all owners should be familiar with to remain compliant and avoid repercussions. How and when do you pay taxes as a small business? Why is it so hard to find […]
Taxes can be a headache, especially when you’re unsure of the technical rules. Section 179 allows taxpayers to take an immediate tax deduction for property placed in service during the year instead of deducting the cost over several years. This article will explain the Section 179 rules and help you understand how to take advantage […]
Independent contractors, freelancers, sole proprietors, self-employed individuals, and gig workers. No matter what you call it, earning an income from something other than a full-time job is booming in the United States. According to statistia.com, 73.3 million Americans call themselves freelancers, up from 57.3 million in 2017. While freelancing offers significant benefits not available for […]
You’re finally ready to dive into your passion and create an organization for your cause. Do you dream of supporting an underrepresented group, improving social welfare, or starting a sports club? After you decide on a goal, you should determine whether a non-profit or a not-for-profit organization is best for your mission. You may wonder: […]
If you’re self-employed or own a small business, you already know getting paid isn’t as simple as collecting a bi-weekly paycheck. Did you also know you need to file a Schedule C tax form with your income tax return? Schedule C reports your self-employment income to the IRS. If you run a business or you’re […]
If you’ve ever wondered how far back the IRS can audit you, you’re not alone. Many small business owners are unfamiliar with the IRS audit statute of limitations and assume they must retain decades of tax documents just to be safe. However, once you better understand the tax audit time limit, you can spend less […]
Voluntarily dissolving an LLC in California – taking steps so that it no longer exists – can be a great decision. Perhaps your small business can no longer compete in the market, or maybe you and your partners are no longer aligned on the business vision. Whatever the reason, it is your responsibility to take […]
Do you need a registered agent for an LLC? Yes! If you’re planning to form an LLC, you are required to appoint a registered agent. A registered agent plays a vital role in your business, making selecting the right agent important. If you’re in the planning stages of your business or ready to form, it’s […]
Small business owners typically outsource many services that would otherwise be done in-house at larger companies, such as marketing, advertising, and accounting. But how can you ensure you’re choosing the right professional to listen to your needs and provide trustworthy expertise? Some services are lower risk. After all, if you choose the wrong cleaning company […]
