Every year, I have a few S-corporation clients who complain that they have a tax liability on their personal return. Typically there’s also a comment made about how “other people” they’ve talked to have S-corps and “never pay anything in taxes.” This conversation happens several times a year, and oftentimes it’s the same conversation with […]
A common question from business owners is, how can a small business avoid the crush of taxes and regulations while still staying within the confines of the law?
You should look at forming an S-corp when your net income from the business starts to approach the amount of a “reasonable salary” for the work you do.
Many of the business clients I work with are either side businesses, or side businesses that are turning into “real” businesses. I’ve written before about the struggle of taking a side business and turning it into something more. Today, I’m going to write about the choices a business owner has with their side business when […]
A common question from business owners is, how and when do I calculate quarterly estimated tax payments?
Starting a not-for-profit just to reduce your tax liability is a bad idea.
Why make estimated tax payments? An understanding of how the tax calculation works is a good starting point.
Tips for financing a small business include: understand that there’s going to be paperwork and hoops to jump through.
Basic tax information about sole proprietorships
Federal taxes provide for 5 different filing statuses. This blog post examines the definition of filing status and explains each type of filing status.