Expenses incurred due to the legal costs of running a profitable business that yields an available income is usually listed as a tax-deductible expense. It's only when the legal...
Posted by CORE PERFORMANCE on 01/09/2022
The type of business you own determines what your tax returns will be like to a large extent, whether your taxes will significantly be reduced. Let’s start by defining what LLCs...
Posted by KLSM CPA Firm PLLC on 01/01/2022
A leveraged loan is a high-risk loan for borrowers who have a lot of debt, bad credit, or both. Lenders usually charge higher rates of interest because the risk of default is higher....
Posted by Unifirst Financial & Tax Consultants on 12/27/2021
We recommend that you keep some documents and files longer than others. It really depends on the document and your business.With the exception of some guidelines from government agencies,...
Posted by Dennis Jao on 12/10/2021
There are various business structures, so when forming yours, you will probably have multiple options. Chances are you will hear of S corporation and wonder the implication and how...
Posted by Unifirst Financial & Tax Consultants on 12/10/2021
Starting a new business comes with many upfront tax issues. Let's take a look at some of the tax considerations you need as an entrepreneur when starting a business, including...
Posted by James Financial Services Inc on 11/21/2021
Those who cannot withhold federal taxes from each paycheck must pay taxes quarterly.United States income tax operates on a pay-as-you-go system, in which the federal government collects...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 11/11/2021
Selling a small business implies income, and income means taxes. But the way you structure your business can make a big difference in how much of the sale price goes towards taxes...
Posted by Pat Raskob on 11/11/2021
What is a Profit and Loss Statement?After every financial year, it is normal for businesses to know if they are making a profit or losing. A company can access its revenue, expenses,...
Posted by CORE PERFORMANCE on 11/04/2021
