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 […]
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 […]
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 […]
In today’s fast-paced digital landscape, small businesses are turning to e-commerce platforms as an additional avenue for showcasing their products. Although traditional brick-and-mortar stores remain a popular choice for conducting business, launching an online store presents a more efficient and dynamic approach to reaching customers. Embracing the world of e-commerce not only offers numerous advantages […]
LLCs are one of the most common business entities, and their members enjoy limited liability and other benefits, making them great business entities. However, LLCs can convert to C Corps to benefit their shareholders even more. Tax consequences are worth considering before ending an LLC and beginning a C Corp. When you convert an LLC to […]
Many people aspire to be their own boss. Setting their hours and making their own business decisions is liberation for some. You’re no longer a tiny cog in the wheel! But it also comes with increased pressure and responsibilities, taxes included. Now that you’re self-employed, you’ll have to pay your taxes directly to the IRS […]
As a small business owner, you’ll have questions about your business, business procedures, and taxes. You may have entity-specific or business tax questions, making receiving the correct answers urgently. When tax season arrives, small business owners will have questions but only a little time to receive proper answers, assistance, and next steps. Here are answers […]
If you’ve been building a side hustle as an Etsy seller, and you’re wondering, “do I have to report Etsy income on my taxes?” you’ve come to the right place. Etsy is home to many artists and craftspeople selling their goods online – but you need to remember to report Etsy income when it’s time […]
For business owners, equity is a vital tool that you can use to your advantage. There are different equity types that serve different purposes within your business. Here’s an overview of what equity is and how to calculate equity in a business. What does equity mean in business? Equity comprises the net value of a […]
What is Small Business Saturday? Small Business Saturday is part of a trio of events that kick off the holiday shopping season. It’s meant to encourage consumers to take a break from the Walmarts and Amazons of the world and embrace the businesses that make up the backbone of their communities. Small Business Saturday always […]
