There is a gross misunderstanding when it comes to the protection afforded to business owners of a Limited Liability Company (LLC). This video identifies who’s liability is protected and who is not.
VIDEO: Limits to Limited Liability Read More »
Most people associate registering their business with the Secretary of State as the proper way to secure their unique business name. While this reason is partially true, it is not the real reason a business needs to register their entity with the Secretary of State. In this short video, we discussed the real reasons why
VIDEO: The Real Reason for Registering an Entity Read More »
I often encounter clients that want to create a non-profit business. They all too often think that the primary difference is just one pays taxes and the other does not. They think that as long as they have a social benefit, they can be considered a non-profit. However, there is a vast difference between their
Non-Profit or For-Profit? Read More »
While crowdfunding is becoming more and more common, tax support and guidance for the campaign creators continue to remain unclear on many points. At a minimum, the tax treatment of funds generated through crowdfunding depends on whether the campaign is reward-based, donation-based, or equity-based. Moreover, if it is reward-based, the value of any reward offered
Taxes and Crowdfunding Read More »
One of the most confusing issues facing many newbie business people is related to the confusion and frustration related to taxes, vocabulary, and acronyms.
Business Confusion About Taxes, Vocabulary, and Acronyms Read More »
The Federal Debt as of Jan 2021 is nearing $28 trillion with another $1,9 trillion stimulus bill being considered. When I wrote this post initially in 2015 the federal debt was about to cross $18 trillion. What does a nearly $30 trillion debt have to do with me? It is not my debt. Someone else
A Strategy to Lower Income Taxes Read More »
By transferring a traditional IRA into a self-directed IRA, the IRA owner can invest in private businesses and in real estate as well as traditional sources
Using a Self-Directed IRA to Fund Your Business Read More »
Many would-be entrepreneurs have money tied up in retirement plans like IRAs or 401ks that could be used to fund their businesses. Many simply believe they can’t access these funds until they reach the age of 59.5 without being subject to a premature distribution penalty. That being said, there are a few ways that you
Retirement Account Funds New Business Read More »
Income tax is paid on a company’s Net Profit which is the amount that is left over after you subtract your COGS, business operating expenses and allocations.
Business Income Tax – What You Need To Know Read More »
Many new business owners make several formation errors during and after the registration process that can come back and bite them later. 1, One common formation error is that the registering agent fails to include an entity identifier in the name, such as LLC or Inc. 2, Once registered, many LLCs fail to produce an operating
Seven Common Business Formation Errors Read More »
