More than 600,000 new businesses are formed in the United States each year. Unfortunately, not all of these have staying power in their industries. Properly managing your tax obligations is one of the most important responsibilities you have as a business owner. However, this means you will need to understand how to read a business tax return. Let’s take a […]
Category: Business
5 Signs Your Company Needs a Fractional CFO
A recent study reveals that 82% of businesses will fail because of problems related to cash flow. Further, 48.9% of small businesses will survive beyond five years. It pays to know how your company is fairing financially, but not every business has enough money to pay a full-time Chief Financial Officer. That is why many small businesses often opt to […]
C-Corp and S-Corp: The Essential Comparison
Has your business been growing recently? Are you no longer eligible as a sole proprietor or single-member LLC? Have you been looking to form a corporation? If so, you’ve come to the C Corporation vs S Corporation crossroads. You need to figure out whether you’re going to be an S corp or a C corp. In order to do that, […]
Small Business Tax Deductions Can Be Life-Savers
The outbreak of the coronavirus pandemic and its repercussions took a serious toll on small businesses across the United States. Not only did some businesses have to shut their doors for a period of time, but the ongoing labor crisis is making it difficult to do business even as lockdowns have reduced. As of February 2021, 53% of small business […]
Consider a heavy SUV for your business
The nice weather and the general downturn in COVID-19 cases has spurred some business owners to think about buying a car this spring. Here’s an option that may save on taxes.
Update on the employee retention credit
Keeping employees on the payroll has been difficult for many businesses over the past year. The latest COVID-relief law, the American Rescue Plan Act, extends the employee retention tax credit.
Is an S corporation election a good idea?
What is the best choice of entity for a new business venture? It might be an S corporation. Here’s why
Your guide to home office deductions
Business owners may be able to save tax with home office deductions. If you’re working from home (like lots of people these days), you may qualify. Here’s a rundown of the rules.
The many uses of a SWOT analysis
Whether your business is striving to hold steady or gain ground this year, a SWOT analysis can provide valuable insights
Tax implications of buying or selling a business
Buying or selling a business may be the largest transaction you’ll ever make. Pay attention to taxes. After a deal is done, it may be too late to get the best tax results.