December 31, 2019 / by Larry Donahue / Anonymous LLC, Corporations, LLC, Other Corporate Entities, Partnership, Taxes / 0 comments
When clients ask me what type of tax status they should elect for their company, I usually respond with, “Please ask that question to your CPA or Accountant.” After all, a good CPA or Accountant, who understands the needs of your business, is going to be able to make a good recommendation and help you […]
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Selling Goods in Different States: South Dakota v Wayfair, Inc
February 24, 2020 / by Ian Alden / Taxes / 0 comments
In the case of South Dakota v. Wayfair, Inc., the Supreme Court of the United States allowed the State of South Dakota, under a law it had passed, to require Wayfair (a popular online sales company) to collect and pay South Dakota sales tax even though Wayfair had no “economic nexus” to the state of […]
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Marriage and Taxes: The Good, The Bad, and The Ugly
February 3, 2020 / by Ian Alden / Taxes / 0 comments
For many people, marriage is a blessed start to a new chapter in life. Unfortunately, for many people, marriage can often come with an unexpected tax bill. Here are a few key things that newlyweds should know about marriage and taxes before tying the knot. Your tax bill could go down For many couples who […]
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Operating Agreements and Taxes: What You Need to Know
January 15, 2020 / by Ian Alden / LLC, Taxes / 0 comments
As you may have gathered from some of our previous articles (for example, read “Does your LLC have a proper Operating Agreement?” and “Important clauses for LLC Operating Agreements“), the Operating Agreement is the foundation of any limited liability company. If yours is missing a lot of key terms and conditions, or, even worse, if […]
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Tax Status for Companies
December 31, 2019 / by Larry Donahue / Anonymous LLC, Corporations, LLC, Other Corporate Entities, Partnership, Taxes / 0 comments
When clients ask me what type of tax status they should elect for their company, I usually respond with, “Please ask that question to your CPA or Accountant.” After all, a good CPA or Accountant, who understands the needs of your business, is going to be able to make a good recommendation and help you […]
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Capital Loss and Leaving a Partnership
April 3, 2019 / by Ian Alden / Business Law, LLC, Partnership, Taxes / 0 comments
Everyone who’s ever started a business will tell you that any new business venture involves risks. Sometimes it’s the risk of a capital loss of everything you have invested, or sometimes it’s the risk of spending countless hours trying to build something that just won’t stand on its own. Sometimes it’s the risk that your […]
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Banking and the Small Business Owner
March 4, 2019 / by Larry Donahue / Business Tips, Small Business, Taxes / 0 comments
The Corporate Veil: Don’t pierce it! “Piercing the Corporate Veil” refers to the situation when a court puts aside the protections that are normally associated with an incorporation. The very reason you went to the trouble and expense to incorporate in the first place will be rendered void if you do not routinely exercise a […]
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A S Corporation May Help You Save a Lot in Taxes
December 6, 2018 / by Ian Alden / Business Tips, Corporations, Small Business, Taxes / 4 comments
If you’re familiar with the different types of businesses out there, you’ve probably heard something about an S Corporation or “S-Corps”. Maybe a friend or colleague told you about some of their benefits, and maybe you’re even thinking about making one. Before you do, it’s important to understand why an S-Corp can be so beneficial […]
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From the Experts – Tax Forms
September 17, 2018 / by administrator / Taxes / 0 comments
Going into business for yourself is exciting, and being your own boss can be both rewarding and financially lucrative. However, there is more to going into business than hanging out a shingle. There are numerous legal documents required, including tax related forms. Establishing Your Business The structure of your business is one of the most […]
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Return of the C Corporation
August 27, 2018 / by Ian Alden / Corporations, LLC, Other Corporate Entities, Partnership, Taxes / 0 comments
If you’re starting a new business (or reorganizing an old one), you have a few options to choose from. For example, you could form a Limited Liability Company (or LLC). LLCs are often a great choice for startups because they’re easy to start, simple to administer, and you can choose how you want it to […]
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Internet Sales Tax and the Supreme Court
June 21, 2018 / by Ian Alden / Business Tips, Corporations, LLC, Marketing, Strategic Planning, Taxes / 0 comments
If you run a business large or small, it’s hard to ignore today’s headlines: Supreme Court rules states can force online retailers to collect sales tax (CNN), Supreme Court rules states can collect sales tax for online purchases nationwide (Fox News), Supreme Court rules states can require shoppers to pay online sales tax (MSNBC). In […]
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