Limited Liability Companies (LLCs) have become increasingly popular among entrepreneurs and small business owners due to their flexibility and liability protection. One crucial aspect...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 08/17/2023
Investing in a franchise can be an excellent way to start a business, benefiting from an established brand, support system, and proven business model. However, beyond the operational...
Posted by Pat Raskob on 08/11/2023
Limited Liability Companies (LLCs) have become popular among business owners in recent years. One reason for this is the tax advantages and disadvantages of an LLC. In this article,...
Posted by KLSM CPA Firm PLLC on 04/09/2023
A C corporation is a type of business entity that is formed under state law and is taxed separately from its owners. On the other hand, an LLC is a business entity that provides limited...
Posted by Taxes Made EZ Inc on 03/25/2023
Business owners benefit from driving themselves or their employees for business purposes because of the tax deduction it attracts. The IRS allows business owners to deduct their returns...
Posted by KLSM CPA Firm PLLC on 11/30/2022
The traditional process is slow and tedious if you want to convert your corporation to an LLC. But in many states, there is an easier and less expensive way.Although it doesn't...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 11/28/2022
Partnerships should use Schedule K-1 tax forms to distinguish partnership income from owners' income. By doing this, your business will more likely avoid the $54,171 tax penalties...
Posted by Taxes Made EZ Inc on 11/17/2022
The IRS considers an independent contractor as a self-employed or an entity hired to provide a service or work for another entity as a non-employee. Due to that, independent contractors...
Posted by Taxes Made EZ Inc on 10/30/2022
For a small business owner, tax season can be stressful, and the prospect of paying a large sum of money to the government is not really a pleasant one. That's why small business...
Posted by Pat Raskob on 09/30/2022
